Retail in BL4
Higher Market Street, Farnworth, Bolton, Greater Manchester, BL4 9AJ
Online auction
- Mixed-use investment opportunity
- Ground floor commercial premises
- Separate residential accommodation – sold with vacant possession
- Commercial portion income producing until December 2027
Retail in BL4
Being sold via Secure Sale online bidding. Terms & Conditions apply.
An excellent investment opportunity comprising a mixed-use property consisting of a ground floor commercial premises together with a separate residential accommodation arranged over the rear of the ground floor and first floor.
Occupying a prominent position in the heart of Farnworth, the property benefits from a highly convenient and increasingly popular location currently undergoing significant regeneration and improvement works locally. The surrounding area offers a diverse mix of established businesses and residential properties, whilst being situated close to Farnworth town centre and providing excellent transport links.
The property is located on Higher Market Street, Farnworth, and is ideally situated for access to the regional motorway network via St Peter's Way. Farnworth railway station is also within easy reach, offering direct rail services to Salford, Manchester, Bolton and surrounding areas.
The commercial unit is currently let until December 2027 at a rent of £670 per calendar month (£8,040 per annum) and is operated as a hair and beauty salon.
The residential accommodation is separately accessed and occupies the rear section of the ground floor together with the first floor accommodation. The residential accommodation comprises a communal kitchen/diner with shower room off together with four letting rooms, three of which benefit from en-suite facilities.
The rooms are to be sold with vacant possession and were previously let on a furnished basis inclusive of bills. Recent rental figures achieved were approximately £520 per calendar month for the en-suite rooms and £400 per calendar month for the non en-suite room, providing a potential gross annual income of approximately £23,520 from the residential accommodation and a combined gross annual income of approximately £31,560 per annum.
Summary
- Property Type: Retail
- Tenure: Freehold
Description
A mixed-use property consisting of a ground floor commercial premises together with a separate residential accommodation arranged over the rear of the ground floor and first floor.
Location
Located in a prominent position in the heart of Farnworth, the property benefits from a highly convenient and increasingly popular location currently undergoing significant regeneration and improvement works locally.
Tenure
TITLE NUMBER: GM474592 - Freehold
EPC's
Rating D & C.
Additional Information
For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
This property is being sold subject to unconditional reservation fee auction terms and conditions.
Timescales
Contracts will exchange immediately. There are 28 days in which to complete the purchase.
Legal Pack
A legal pack is available to download. Special conditions may apply.
We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.
Deposit
In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.
The deposit is non-refundable.
Buyer Fees
This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.
A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.
More Information
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
ONLINE AUCTION NOTICE
I hereby acknowledge and confirm the following:
My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.
If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.
Any amount payable at the close of the auction must be paid within 1 hour.
Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.
Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.
Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.
The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.
It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.
The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.
Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid
Please note this bidding process applies specifically to online auctions.
More Information is available:
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
There is no legal pack for this property.
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