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3-13 Albert Rd

1,354 SF Retail Condo Unit Offered at $227,330 in Colne BB8 0RY

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Investment Highlights

Prime town centre location on busy main road.
Conveniently located within a short drive from junction 14 of the M65 motorway.

On street parking immediately in front and rear parking space.

Executive Summary

A stone built parade of retail properties. The property is located on Albert Road (A56), the main arterial route into the town centre of Colne. Conveniently located within a short drive from junction 14 of the M65 motorway, the property occupies a prominent roadside position, benefitting from a high level of passing traffic.

Property Facts Sale Pending

Price	$227,330	Sale Type	Investment
Unit Size	1,354 SF	Building Class	B
No. Units	1	Floors	2
Total Building Size	8,124 SF	Typical Floor Size	4,062 SF
Property Type	Retail (Condo)	Year Built	1890
Property Subtype	Storefront	Lot Size	0.20 AC

Price	$227,330
Unit Size	1,354 SF
No. Units	1
Total Building Size	8,124 SF
Property Type	Retail (Condo)
Property Subtype	Storefront
Sale Type	Investment
Building Class	B
Floors	2
Typical Floor Size	4,062 SF
Year Built	1890
Lot Size	0.20 AC

1 Unit Available

Unit 7

Unit Size	1,354 SF	Sale Type	Investment
Price	$227,330	Tenure	Freehold
Price Per SF	$167.90	Cap Rate	6.67%
Condo Use	Retail	NOI	$15,155.34

Unit Size	1,354 SF
Price	$227,330
Price Per SF	$167.90
Condo Use	Retail
Sale Type	Investment
Tenure	Freehold
Cap Rate	6.67%
NOI	$15,155.34

Description

A spacious, mid parade, stone built property occupied as a Pharmacy for a number of years. The accommodation is arranged over three floors and comprises to the ground floor, a sales area, dispensary room, consultation room, and a single storey extension to the rear which is split into two store rooms. The first floor comprises a staff room, kitchen, store room and bathroom. There is also a cellar providing useful additional storage.

Sale Notes

The property is occupied by Rowlands Pharmacy, a well established Tenant who have occupied the premises for over 15 years and have recently agreed a new 10 year Full Repairing and Insuring Lease at an annual rent of £12,000 per annum. The lease will incorporate a rent review (RPI linked) at the expiration of year 5 with a corresponding Tenant break clause. The Lease is due to commence in November 2023 and a copy of the lease is available upon request.