The Crown, Bacup Road - Rawtenstall, Lancashire
• Secured Investment until November 2014
• Available for £200,000 reflecting an initial yield of 8.27% rising in 2011 to 9.25%
• Upward only rent review in November 2012
• Total net area 6,676 sq ft over 4 floors
The property is located on the edge of Rawtenstall town centre on Bacup Road, which is one of the primary thoroughfares through the town. Rawtenstall is located at the end of the A682 which connects to the A56 / M66 approximately 1 kilometre to the South. The M65 motorway is approximately 10 kilometres to the North.
The property is located close to the town’s valley shopping centre, which is earmarked for comprehensive redevelopment.
The town’s bus interchange is located directly opposite the property on the other side of Bacup Road. Local occupiers include Focus DIY, the Job Centre, Lidl Foodstore, Tesco and ASDA.
DESCRIPTION AND ACCOMODATION
The property comprises a substantial end terrace public house constructed of stone and brick walls under a pitched slate roof. Internally the property has a large plan open bar and lounge area at ground floor level and to the rear there is a single storey extension, which houses the public house kitchen and public toilets.
Under the length of the public bar area there is a large extensive beer cellar.
At first and second floor level there is living accommodation with spacious individual rooms and storage.
Accommodation is as follows: -
Bar / lounge area
Female WC’s Total – 2,540 sqft
Lounge Total – 1,143 sqft
5 storage rooms
Bathroom Total – 1,386 sqft
Stores Total – 1,607 sqft
The property is let to Mr Brian Crane on a 4-year FRI lease from 4th November 2010 at a rent of £17,000.00 per annum in year 1 rising to £19,000.00 per annum in year 2. There is an upward only rent review on 4th November 2012.
A copy of the lease is available on request.
The freehold investment is available for £200,000 reflecting an initial yield of 8.27% rising in November 2011to 9.25% after taking into consideration usual purchasers costs of 2.75%
If you require any further information or wish to arrange a viewing please contact:
Mark Carling or Andy McCormack
No 1 Marsden Street
Tel: (0161) 220 1999
E-mail: email@example.com or firstname.lastname@example.org
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