£400,000 for a shop front in Accrington

shillelagh · 29-03-2007, 19:33

Me being a nosy person last year signed up to an auction site and ive revisited the email account and found an email from them giving the date and catalogue for the next auction. Theres a few from accrington in it but found this one:
http://www.pugh-company.co.uk/auctio...20070418&l=052

£400,000 for a shop front on Blackburn Road!!!

Now theres some for Manchester on there and they arent even that much.

Dont you think that its a bit too much for Hyndburn?

lancsdave · 29-03-2007, 19:44

A slight deviation but my landlord thought he was getting one over on me by putting the house up for auction which was held today. Didn't sell so looks like I've now got some time to get even

entwisi · 29-03-2007, 19:44

its the piggy banc amusements

Your buying a 3 floor building with a decent amount of rental potential.

shillelagh · 29-03-2007, 19:51

http://www.pugh-company.co.uk/auctio...20070418&l=076

Heres another one - but who'd want to buy a electricity substation?

mani · 29-03-2007, 22:39

YEAH

i think its totally worth it

you got almost guaranteed income coming in

i cant see that piggy bank place goin else where its good. fair enough u can get a few stick from cops as hte landlord but nothing that cant b sorted out

ontop u got offices that ppl will b willing to locate to giving u extra there - even rusty will stay there longer i think

AND if the council get their act right i think its value can only rise futher

panther · 30-03-2007, 09:04

hey if someone buys it, it could be another pound shop!!

just 400.000 things to buy and its paid for

WillowTheWhisp · 30-03-2007, 11:45

The current tenants pay £30,500 a year rent. One is fairly new and if the business fails (although in the present HBC climate that may seem unlikely) then that income has gone. The other is fairly likely to stay put, but no guarantee. Offices currently unoccupied.

Is that a worthwhile return on £400,000? I think I'd look again at my £400,000

Ianto.W. · 30-03-2007, 12:30

Quote:

Originally Posted by shillelagh

http://www.pugh-company.co.uk/auctio...20070418&l=076

Heres another one - but who'd want to buy a electricity substation?

A subcontracting Electrician.

WillowTheWhisp · 30-03-2007, 12:39

With an income of £300 a year? That seems a bit pointless too.

andrewb · 30-03-2007, 21:30

£400,000 does seem rather expensive, but then again im sure people are paying more rent in Accrington than many areas of London

SPUGGIE J · 31-03-2007, 11:28

Maybe there is a dreamer out there who has big plans and intends to make it work.

Ianto.W. · 31-03-2007, 12:16

Grossly overpriced for that side of the town hall, there is no such thing as a guaranteed income, if the tennant goes bust the lease is not worth the paper it's printed on, 'you can't get blood out of a stone', and looking at the rest of the buildings in the area, apart fron the Calder Pub, the place is a mess.

SPUGGIE J · 31-03-2007, 13:54

If the new shop can start a trend to bringing things up to a standard that appeals then there is a chance others might take a chance. The biggest issue is not cost but the apathy among the buying public in the town which can break any business however big it might be in other towns. The council needs to get its finger out and push like its never pushed before. If the is enough interest then the town can recover and be a beacon. Ok this might be a fantasy but without a dream the town center could become a retail slum.