Long income car park investment with future residential development potential in Barnoldswick, Lancashire
Barnoldswick is a market town in the Borough of Pendle, Lancashire with a population of 10,913 inhabitants (2021 census).
Good transport connectivity approx. 5 miles north of the M65 Motorway connecting the town with surrounding areas.
Situated prominently on the corner of Valley Road, less than half a mile from the town square.
Popular area for residential development, adjacent to site delivered by Mulbury and opposite site delivered by Berkeley De Veer.
The property comprises a regular shaped plot of land currently used as a private car park
Total site area of 1.29 acres (0.52 ha)
Let to Silent Night Group Limited (no. 07525259)
Silent Night are the largest manufacturer of branded beds in the UK and have been based in Barnoldswick since 1949
The group reported a 9.7% increase in turnover (£121m) and 23% increase in EBITDA (£8.4m) in their latest accounts (January 2022) and were appointed the official bed supplier for Premier Inn in August 2022
10-year lease term wef 29th September 2022, expiring 28th September 2032
Excluded from L&T Act 1954
Initial rent of £25,000 per annum (£19,379 per acre)
Rent subject to annual fixed uplifts of 5% compounded (Y2: £26,250 pa, Y3: £27,500 pa..)
Freehold
Underwritten by residential land values in the area
