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2 Bed Detached House For Sale Temple Street, Burnley, BB11

£175,000- Detached

Yield: 3.09%
1 of 6
Yield: 3.09%
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  • Rental Guide: £360 - £450
  • 2 Bedroom(s)
  • Description
  • Floor Plan
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Last Updated: 11th November 2020

Description

LOCATION
The property is situated at the junction of Temple Street and Plumbe Street within close proximity to Burnley town centre. Temple Street is set within a mix of commercial occupiers and residential housing. Other occupants in the nearby vicinity include Charter Walk Shopping Centre, Tesco and TK Maxx.

DESCRIPTION
A detached premises of traditional stone construction beneath a pitched slate roof. Occupied as a dry cleaners for a number of years, the commercial accommodation comprises a launderette with first floor staff facilities, together with a separate sales area and an extended laundry area to the rear.

To the first floor above 4-6 Temple Street is a self contained flat comprising a lounge/dining room, kitchen, bathroom and 2 bedrooms.

Planning permission has been submitted for the conversion of 2A and 4-6 (ground floor) into two self contained dwellings. Subject to planning, 2A will comprise a 4 bedroomed end terrace dwelling and 4-6 will comprise a 2 bedroomed flat with a kitchen/dining room, lounge and bathroom.

ACCOMMODATION
2A Temple Street
Ground Floor
Launderette 37.03sq.m (398.59 sq.ft)
Storage 13.31 sq.m (143.26 sq.ft)
First Floor
Staff Facilities
Kitchenette
WC 46.67 sq.m (502.35 sq.ft)

4-6 Temple Street (Ground Floor)
Sales area 22.45 sq.m (241.75 sq.ft)
Store room 1 18.36 sq.m (197.62 sq.ft)
Store room 2 40.25 sq.m (433.25 sq.ft)
Extended Laundry 69.74 sq.m (750.68 sq.ft)
area

4-6 Temple Street (First Floor Flat)
2 Bedrooms
Lounge/Dining Room
Kitchen
Bathroom 81.06 sq.m (872.52 sq.ft)

Basement

GIA 308.24 sq.m 3,317.86 sq.ft

SERVICES
The property has the benefit of all mains services.

PRICE
£175,000 (one hundred and seventy five thousand pounds).

SERVICES RESPONSIBILITY
It is the prospective Purchaser's responsibility to verify that all appliances, services and systems are in working order, and are of adequate capacity and suitable for their purpose.

PLANNING
It is the prospective Purchaser's responsibility to verify that their intended use is acceptable to the local planning authority.

BUSINESS RATES
We are informed by the Valuation Office Agency Website that 2A-6 Temple Street has a rateable value of £6,100 per annum (2020/21).
The First Floor Flat has a separate council tax banding - band A

LEGAL COSTS
Each Party is to be responsible for their own legal costs incurred.

EPC
An Energy Performance Certificate is available upon request.

VAT
All Prices quoted may be exclusive of but may be subject to VAT at the prevailing rate.

VIEWING
Petty Chartered Surveyors
Imperial Chambers, Manchester Road
Burnley, BB11 1HH
Agent Details
Petty Estate Agents Ltd
32, Manchester Road, Burnley, BB11 1HH
Show Contact Number
01282 415 111
**This report is currently a Beta Test Version. Do not rely on the information provided below.

Forecast Score

Based on data and factors which historcally influence property prices this property has an overall score as:

Data Classified:
This property has been fully classified.
2.7

Forecast Report

Our predictive algorithms and data analysts; scan, compare and rank properties by future gains and current returns; helping you pick the perfect investment at a glance.

The following influencers contribute to our score:
  • Historical Data
  • Interest Rates
  • Mortgage Availability
  • Fiscal Policy
  • Recent Sold Prices
  • Housing Demand
  • Benchmarking Performance Against Other Asset Classes

Comparison with local sold prices

There is not enough data available
0

Profitability

Very good rental demand in this area.
Compared to other property investments this gives a very poor return.
0

Interest Rates

Bank of England Base Rate:
0.1%
Current all-time record low interest rates are making monthly mortgage payments more affordable so more people will buy houses, which will lead to house prices increasing.
10

Mortgage Availability

Current moderate appetite for banks to lend mortgages, will lead to steady house price growth.
5

Fiscal Policy

First Home Stamp Duty:
£0
Buy To Let or Second Home:
£5,250
The governments recent policies including, not to add additional tax to this property price band, will be positive for future price growth.
9.6

Comparison with other investment alternatives

Investing in this property will give you a slightly better regular return, when compared to other conservative investments.
3

Investment Analysis

Annual Rent:
Annual Mortgage Interest:
Annual Costs:

Calculators

These figures are for illustration purposes, please adjust for greater accuracy.
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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

One&Only Pro are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
Rental Data
2 bedroom properties in close proximity are mostly listed £300 - £450 – 8 recently listed properties were found in that band. However, the highest were £550, £550, £525.

These figures should only be used as a guide, always get a rental assessment from a professional.
This is the potential achievable yield.
Potential Return-on-Cash Invested