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Lot 15 Click here for addendum

Gross Yield 12.1%
6 Week Completion

Situation

Located on the west side of Hammerton Street, just off the pedestrianised St James Street with nearby multiple retailers including Marks & Spencer, Subway, GAME, Skipton Building Society, Santander and a host of local traders.
Burnley is a busy market town lying just off the M65 (Junction 10) midway between Blackburn and Halifax, some 24 miles north of Manchester.

Property

Forming part of a mid-terraced building comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 23'8"
Internal Width 20'0"
Shop Depth 53'5"
Built Depth 95'2"
Sales Area Approx. 1,010 sq ft
Store Area Approx. 295 sq ft
3 WCs

VAT is applicable to this Lot

Tenure
Leasehold for a term of 250 years from June 2016 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring Law Society lease to Precious Glimpse Ltd (see Tenant Profile) for a term of 5 years from 25th October 2018 at a current rent of £8,500 per annum exclusive.

Tenant's Break 2022

Tenant Profile

Precious Glimpse Ltd is a professional 2D, 3D, 4D & HD live baby scanning studio for expectant parents and trade from two branches - visit: www.preciousglimpse.co.uk

Note 1: The tenant previously traded from smaller premises opposite the property for many years.

Note 2: There is a £1,000 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

11 Hammerton Street, Burnley, Lancashire BB11 1NA