Office for sale

Union Road, Accrington BB5

Excellent Investment Opportunity – Established Hair Salon with Income Potential

An excellent opportunity to acquire a well-maintained commercial premises currently operating as a hair salon, offering an attractive investment opportunity for both experienced investors and those looking to enter the commercial property market.

The property is presented in excellent condition, meaning there is no immediate work required, allowing a purchaser to benefit from the existing setup from day one. The salon features a spacious shop floor, dedicated massage room, shower room, laundry room, utility room and WC, providing a versatile layout for a range of beauty and hairdressing services.

The premises currently benefit from four rented salon chairs, with three generating an income of £415 per calendar month each and a fourth generating £280 per calendar month. The income from the fourth chair is expected to increase once the occupant has become more established in the business.

This provides a current rental income of approximately £1,525 per calendar month, equivalent to £18,300 per annum, before running costs. With the owner's reported monthly running costs of approximately £400 for gas, electricity and other bills, there is potential for an attractive ongoing income, subject to the full costs of operating the premises.

Further potential exists to increase profitability by introducing additional rented chairs, reviewing the existing chair rental rates and making full use of the available space.

Conveniently situated on Union Road, the property offers an appealing opportunity for investors seeking an income-producing commercial premises, as well as hairdressers, beauty professionals or business owners looking to acquire a ready-to-use salon.

Early viewing is highly recommended to appreciate the condition, layout and income potential this property has to offer.

Additional information

Tenure - Freehold

Council Tax - N/A small business relief.
EPC Band - tbc

Auctioneers Comments

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).

If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.

A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.

Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional.

Disclaimer

Whilst we make enquiries with the Seller to ensure the information provided is accurate, Yopa makes no representations or warranties of any kind with respect to the statements contained in the particulars which should not be relied upon as representations of fact. All representations contained in the particulars are based on details supplied by the Seller. Your Conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. Please inform us if you become aware of any information being inaccurate.

Money Laundering Regulations

Should a purchaser(s) have an offer accepted on a property marketed by Yopa, they will need to undertake an identification check and asked to provide information on the source and proof of funds. This is done to meet our obligation under Anti Money Laundering Regulations (aml) and is a legal requirement. We use a specialist third party service together with an in-house compliance team to verify your information. The cost of these checks is £82.50 +VAT per purchase, which is paid in advance, when an offer is agreed and prior to a sales memorandum being issued. This charge is non-refundable under any circumstances.