Retail in BB5
Union Street, Accrington, Lancashire, BB5 1PL
Online auction
- Investment Opportunity
- Leasehold Title
Retail in BB5
For sale via secure sale online bidding - terms and conditions apply.
Income-Producing Investment – Accrington Town Centre
An excellent opportunity to acquire a well-positioned, income-generating commercial property in the heart of Accrington town centre.
This substantial two-storey commercial unit, prominently located on Union Street, is currently let and producing a strong rental income of £9,600 per annum, offering immediate return on investment.
The property is occupied by an established tenant operating a music tuition and rehearsal business. The tenant is part way through a six-year licence agreement expiring in June 2029, subject to a tenant break option at 36 months (not currently triggered), providing ongoing income stability.
Strategically situated within close proximity to the Arndale Shopping Centre and Accrington Bus Station, the property benefits from excellent footfall and strong surrounding commercial activity. Nearby national occupiers include Subway, Santander, Boots, EE and Poundland, alongside a range of well-supported independent retailers.
Accrington forms part of the Hyndburn borough in Lancashire and enjoys excellent connectivity. The town lies approximately 4 miles east of Blackburn, 13 miles east of Preston and 20 miles north of Manchester. It benefits from strong public transport links via bus and rail services, together with convenient access to Junction 7 of the M65 motorway, providing direct connections to the M6 motorway network.
The property falls within Use Class E, offering flexibility for a range of commercial uses (subject to any necessary consents).
· Income producing commercial investment
· £9,600 per annum rental income
· Tenant in situ with licence agreement
· Established music tuition and rehearsal business operator
· Prominent Accrington town centre location
· Close to Arndale Shopping Centre and bus station
· Two-storey commercial unit
· Use Class E – flexible commercial use
· Excellent transport links including rail services and Junction 7 of the M65
Summary
- Property Type: Retail
- Parking: None
Description
This substantial two-storey commercial unit, prominently located on Union Street, is currently let and producing a strong rental income of £9,600 per annum, offering immediate return on investment.
Location
Strategically situated within close proximity to the Arndale Shopping Centre and Accrington Bus Station, the property benefits from excellent footfall and strong surrounding commercial activity
Tenure
Leasehold - Title number LA889937
EPC
Rating B
Additional Information
For further information please contact our office directly on 0191 737 1154, or alternatively via email on commercial@pattinson.co.uk. With regards to viewing subject property, this is to be done strictly by appointment.
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
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