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Investment property for sale in Blackburn

New Wellington St, Mill Hill, Blackburn BB2 4PJ
For sale
£160,000

COMMON USE CLASS: A1 Shops

ainsworth-lord-estates
This property is marketed by:
Ainsworth Lord Estates

Ainsworth Lord Commercial is delighted to be offering for sale this Mixed Use/Retail Investment Opportunity in Mill Hill Blackburn.

 

Trading as a well established pet shop with excellent reputation and strong following, the property is occupied by the owner who runs the profitable business together with a small team of staff.

As he wishes to retire we are instructed to sell the property and the business either as one or in two parts.

 

We are looking at the following 2 Options:

 

Option 1.

Sell the whole Property for £160k PLUS the business at £25k for a combined price of £185k + Fixtures & Fittings plus stock at value.

 

Option2:

Sell the property to an investor, keeping the the business in situ on a lease of £12k pa. The tenant of the ground floor business would only have use of the ground floor. This would mean the investor could make improvements to one or both of the former flats above the shops (with their own access), to generate an additional income of £5-6k pa per flat. bringing the total income for the property to £22-24k pa.

 

 

Currently, the property comprises...

 

On the ground floor:

A double fronted/double shop namely 2 shops opened up into one by way of an opening through one of the internal walls. The shop is currently trading as a long-established Pet Shop with an excellent following and reputation. Our client is happy to sell this property with or without a tenant operating the business.

 

On the first floor:

We have separate former flats above each shop. The one on the left is used purely for storage, whilst the other on the right is still a former flat being used for other business purposes relating to the business on the ground floor. Both flats are in need of refurbishment if they are to be brought back into use and rented out on sensible rents. The rent achievable is directly related to the standard of finish. We believe that each flat with separate accesses will rent for approx. £500pcm.


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