Bar / Nightclub

Whitegates in Crewe are pleased to introduce this incredible investment opportunity, that presents a former Rock and Metal club that has been granted planning permission for 13 apartments, one office space, and features five entrances for convenience. Additionally, there is a car park included at the rear of the building. The property boasts a large cellar that can be utilised as extra space, despite not having permission to build due to head height restrictions. It also includes 8 reception rooms, three wash rooms, two shower rooms, two kitchens, a bar, and various other amenities. With its unique history and vast potential, this building is an ideal opportunity for investors looking to capitalise on a versatile property with multiple potential uses. Don't miss out on this chance to turn this former club into a lucrative investment venture, and contact Whitegates today to arrange your viewing! The rental income potential for this property is impressive, with the 13 one-bedroom flats estimated to generate approximately £675 per calendar month each, and the office space projected to bring in around £1,000 per calendar month. This equates to a substantial annual income of £117,300, which over a 10-year period amounts to an impressive £1,173,000. Additionally, the potential sale price for the 13 one-bedroom apartments ranges from £75,000 to £85,000 per flat, and the office space is estimated to sell for approximately £175,000 to £225,000, resulting in a minimum total sale price of £1,150,000. In conclusion, this investment opportunity presents a chance to secure a substantial and consistent rental income, as well as the potential for significant returns through the sale of the developed apartments and office space. With the building's prime location and the added benefit of the car park, this property is a promising prospect for investors seeking a high-yield opportunity in the real estate market. The locations offers the convenience of being close to Crewe town centre, schools, other essential amenities and easy access to transport links, including the train station and bus station. Auctioneer comments This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold). If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided. The winning bidder will pay £300.00 including VAT for this pack which you must view before bidding. The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax. Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.