Summary - 7, KING STREET OL13 0AH
1 bed 1 bath Mixed Use
Grade II listed town-centre block with seven let units and development potential..
Prominent Grade II listed central town position with landmark character
Three retail units plus four flats — all currently tenanted
Total annual income £35,700; c.9% gross yield
Large unused lower ground basement with development potential
Listed status restricts alterations; consents likely required
Located in a very deprived area with very high local crime rate
Small plot size and older building — ongoing maintenance probable
Retirement sale: immediate, stable income and managed tenancies
A substantial Grade II listed, mixed-use building in Bacup town centre, arranged as three ground-floor retail units and four upper-floor apartments. All units are currently let, delivering a combined rent of £35,700 per annum (c.9% yield), making this a turn-key income asset for an investor seeking immediate returns.
The commercial units are well-presented and trading as salon, sunbed lounge and beauty parlour; the residential accommodation comprises three one‑bed duplex flats and a larger two‑bed apartment. A large lower ground (basement) level is currently unused and offers development or storage potential, subject to listed‑building consent and planning constraints.
Buyers should note the building’s listed status (Grade II) will restrict alterations and can complicate refurbishment or redevelopment. The property is in a very deprived area with a very high local crime rate — factors that may affect tenant mix, rental growth and resale prospects. The sale is a retirement sale and provides immediate income without voids.
This asset suits investors looking for a centrally located, income-producing building with character and short-term hands-off management. Expect necessary conservation-led maintenance and the need to work with heritage officers for any material changes.
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