Station Court

New Hall Hey Road, Rossendale, Lancashire, BB4 6AJ

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For Sale
Property Type Office, Retail, Leisure
Availability For Sale
Size 30,515 sq ft
Price Price On Application
Energy Performance Rating Upon enquiry

Mixed Use Office/Retail/Leisure Investment

Location

The site is situated on the edge of Rawtenstall town centre in a prominent position on New Hall Hey Road, just off Bury Road in an established business location next to New Hall Hey Retail Park. The Retail park includes occupiers such as TK Maxx, M&S Food Hall and Aldi.

The site has excellent access to the motorway networks linking Rossendale, Manchester and Blackburn yet are close enough to the local amenities provided with Rawtenstall Town Centre, which is only a few minutes walk away.

Manchester City Centre is less than 30 minutes drive during most times of the day, and the Lancashire towns of Bury, Blackburn and Burnley can all be reached in less than 20 minutes.

Key Points

  • Seeking offers of £2.5m
  • NIY 4.89%
  • Reversionary Yield 10.97%
  • Capital Value of £82psf

Station House

Station House is a detached stone built building with a pitched slate roof and comprises a self contained restaurant on the ground floor and multi-let offices on the upper three floors. The office suites on the upper floors have their own separate access and have been refurbished to a good standard throughout and include shared kitchen and WC facilities. The ground floor restaurant is occupied by The Village Stores (Helmshore) Ltd. t/a The Fireput Restaurant and they have been trading in this location since 2014.

Orient One

Orient One was originally constructed as a Kwik Save supermarket and has subsequently been occupied by 99p Stores until relatively recently. The property is a detached bradstone clad building with a steel portal frame and it is currently split into two parks. The whole of the ground floor is retail accommodation and the first floor is separately accessed providing multi-let office accommodation. The retail accommodation which is currently vacant benefits from air conditioning throughout and there is also a large yard/external area to the rear of the building, which allows the unit to lend itself to a number of different purposes (subject to planning). Orient One Business Centre is first floor office accommodation currently let to 8 different tenants on varying lease terms. This business centre has its own separate access and currently has one vacant suite available to let.

Proposal

We are seeking offers in the region of £2.5m (two million give hundred thousand pounds). A purchase at this level reflects a Net Initial Yield of 4.89% and a reversionary yield of 10.97% once the Orient One (Retail) unit has been let, assuming standard purchasers costs of 6.38%.