24 Silver Street, Bury

15,795 Sq Ft
£1,295,000
  • Ref: 22916

Property Features

  • Former Hotel. Development/Investment Opportunity.
  • Current Yield 10.11%. When Fully Let A Potential Yield Of 11.87%
  • 2 Ground Floor Commercial Leisure Units with 13 Offices Over 3 Floors Above.
  • Roof Terrace.
  • Opportunity To Be Converted To Residential (STPP).

Property Summary

TURN KEY INVESTMENT/DEVELOPMENT OPPORTUNITY AVAILABLE. Current Yield 10.11%. When Fully Let A Potential Yield Of 11.87%. FORMER HOTEL.

Full Details

ATTENTION ALL INVESTORS/DEVELOPERS!!!!

Pearson Ferrier Commercial (Voted Number 1 Commercial Agent In Greater Manchester For Disposals 2021) are delighted to offer to the market the former 'The Old Royal Hotel'. At approximately 200 years old the premises is one of the most attractive, well known and historic buildings in Bury, located next to the original Town Hall.
Standing over 5 floors this FREEHOLD former hotel premises has in recent years been tastefully converted to 13 modern office suites with commercial kitchen areas to the top 3 floors. To the ground floor and lower ground floors you will find a nightclub and separate cocktail bar.
The current rental income is generating a gross yield of 10.11% & 11.87% when fully let.

Recently plans (see attached), although not submitted for planning, were draw up to add a extension to the upper floors and roof terrace areas generating additional square footage to a already impressive character premises. The property would also suit a conversation back to a boutique hotel or even residential(STPP).

Location
Bury Town Centre surrounded by a abundance of wine bars and restaurants. The Rock Shopping complex, Millgate Shopping Centre and Bury Intercharge Station incorporating Manchester metro link station is only 2 minutes walk away. Manchester is the commercial, financial, educational and cultural capital of the north and is home to the UK’s strongest economic centre outside London and the South East.

VAT
We understand the property is liable for VAT at the prevailing rate.