Burnley Office for Sale
17-19 Nicholas Street, Burnley is a large 3 storey feature building, located in the heart of Burnley town centre.
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<br/>The property is freehold, and also includes a private freehold car park, making this a rare investment opportunity in the area, town centre car parks are a rare feature of property in the district.
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<br/>Historically, the property has been used for commercial purposes, most recently and as a business centre. The property was fully refurbished in 2021 to a cost of £70,000, with upgrades including a full electrical rewire, cctv, fire doors, new windows throughout, carpets, kitchen and multiple bathrooms. The property also has a boardroom area, multiple fire exits, a fire escape, communal areas, and is a turnkey solution for office space.
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<br/>Due to the location, Burnley town centre has become a popular area for change of use and demand for residential demand is extremely high. Previous plans were drawn up by the owner use as a HMO and apartments.
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<br/>Potential Investments Returns;
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<br/>- Office rental as a business centre; based upon 2024 figures the building was generating a gross annual return of £31,200.
<br/>- Office rental as a single let to one tenant; the property was tenanted for many years at a gross annual rent of £18,000.
<br/>- 9 Bedroom HMO; a change of use could see a gross annual income of £62,400.
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<br/>A 2023 RICS survey placed a valuation of £265,000 on the building.
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<br/>The property is not a listed building, unlike many of the properties in the area, and does not have the same restrictions as other buildings in the town centre; making this highly desirable for a change of use of the potential buyer desired.”
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<br/>Location…
<br/>“Located on the corner of Nicholas Street, Burnley, at the heart of the town centre’s business and residential district. The property is a 5 minute walk to Burnley Bus Station, 2 minutes to the high street, 8 minutes to Manchester Road train station, 10 minutes to Turf Moor football stadium, and 1 minute to amenities.”
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<br/>Accommodation…
<br/>“A character, 3 storey building and car park. Currently presented as 7 office spaces, 1 large boardroom, 3 bathrooms, open plan communal kitchen, various communal spaces on each level, and storage areas.”<br/><br/>