INVESTMENT or INVESTMENT/OWNER USE: The above property is a substantial stone (ex Co-Op building) corner property. It is situated on the busy A672, at Moorside, Oldham, four miles from junction 22 off the M62 Motorway and approx. three miles from Oldham town centre. It offers business activity on three floors, with the option for the owner of using the basement for their own requirements or renting for further rental income. The property has been in the same ownership for 30 years and during that time it has been carefully maintained: re-roofed, re-plumbed and rewired to modern standards. Excluding any revenue from the basement, it is envisaged an income of over £40,000 is achievable from the current ground floor rent plus income from the serviced flats. Realistic offers will be considered.
The Basement: Has toilet facilities with hot and cold water and emergency lighting installed. There are rear and front entrances. Currently available as a multi-purpose Studio for: recording services, rehearsals, various fitness activities, dance classes and any other appropriate uses. Please note! The recording and public address equipment, plus any other similar items shown in the photos are not included in the sale.
This floor offers great potential for other business use: café, café/bar, restaurant, micropub, salesroom etc. with the appropriate planning consent.
Ground Floor: This has been occupied by the present tenant since April 2002. Since 2005 it has been let on a five year rolling lease with a rent review every three years. The next review will be 2017. The tenant operates a family run beauty business which includes Sunbeds, Ladies & Gents hairdressing, Nail and other treatments.
First Floor: This floor houses four self-contained, metered flats of various sizes. There is also a utility room and dryer. The flats have recently been re-designed and refurbished with new carpets, furniture, equipment and decoration etc. The flats are currently operated as "serviced flats" similar to a self catering hotel. An appropriate cleaning and change of bed linen service is provided. For a small charge, a guests wash and dry laundry service is also available. The business appeals to short/medium stay guests , working in the area. The property owner has control over the central heating system servicing all the flats. Work has been carried out to meet fire, health and safety regulations.
We understand that all mains services are connected.
Through enquiries with the Valuation Office Agency website it is noted that the property attracts a Rateable Value in the 2010 Ratings List of £8,200. Please note the Rateable Value is not what you pay.
Council Tax Band on the flats: A
The above amounts are exclusive of, but may be liable to VAT. Each party must satisfy themselves independently to the occurence of VAT in this instance.
If sold, each party are to bear their own legal costs incurred in connection with the transaction.
EPC Rating for 627a - G
Flat 1 -D
Flat 2 -E
Flat 3 - D
Flat 4 - D
Viewing strictly by appointment with Kirkham Property.
509 Middleton Road, Chadderton, Oldham, OL9 9SH
telephone 0161 925 3759