Summary - 3,5 & 7 Arcade Street,WIGAN,WN1 1DE WN1 1DE
1 bed 1 bath Commercial Property
**Standout Features:**
- Prime location in Wigan Town Centre
- Mostly let to 'Envy Lounge Bar' with an annual rental value of £27,000
- Excellent net initial yield of 10.28%
- Energy-efficient building rated 'B'
- Planning permission for future residential development
- Versatile space with potential for further expansion
**Concerns:**
- Current leases revert in 5 years, potentially affecting mortgage options
- Commercial property in an area classified as "constrained renters"
Seize this exceptional investment opportunity in the lively leisure district of Wigan Town Centre at 3-7 Arcade Street. This substantial, well-maintained two-story commercial property boasts a total area of 2,161 sq ft, primarily occupied by the popular 'Envy Lounge Bar,' ensuring a steady income stream. Additionally, a former barbershop on the ground floor adds versatility to the property, with the potential for future residential conversion of the upper floors, making it ripe for value enhancement.
Nestled close to a significant £135 million redevelopment project that promises further expansion of the area, this property is ideally situated to benefit from increasing foot traffic and interest. With an attractive energy efficiency rating and a promising tenant mix already in place, this investment offers both immediate returns and long-term potential. While the commercial lease duration may pose challenges for future financing, the low crime rate and proximity to local amenities make this property a strategic choice for investors looking to capitalize on Wigan’s growth. Secure your stake in a vibrant area today!
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