55 Market Street, Shaw, Oldham, Lancashire

Description

A well situated two storey town centre retail property with internal accommodation extending to approximately 82 Sq.M (892 Sq.Ft). The property has until recently traded as a well known dressmakers for many years but is now offered with vacant possession and the potential to upgrade and improve. The ground floor affords a main shop / sales area extending to 40 Sq.M or thereabouts along with rear store, tea point and WC. The first floor is accessed from the main entrance which leads into a shared vestibule and comprises a front and rear room, kitchen and bathroom. The sale provides an excellent opportunity either for a new or established business looking for a new premises or an investor looking to benefit from likely, strong rental demand. There may be further potential to convert the first floor into residential accommodation, subject to consents.

Accommodation

Ground Floor: 48.12 Sq.M / 517 Sq.Ft. First Floor: 34.74 Sq.M / 374 Sq.Ft. Total internal accommodation: approximately 82 Sq.M / 892 Sq.Ft.

Location

Situated on Market Street, close to the junction of Milne Street, opposite Crompton Shopping Centre and other national and independent occupiers. Shaw provides a weekly market, ample free car parks, Asda, Aldi and Tesco Express and many independent traders. Oldham town centre is approximately 3 miles to the south of Shaw, and Shaw and Crompton Metrolink station is within a short walk of the property.

Tenure / Property Information

Investment Analysis

The £130,000+ guide is not independently supportable from the supplied evidence. The closest identified sale is 53A Market Street at £150,000 in October 2024, but it is recorded only as an unspecified freehold property and no size, condition, tenure comparison or income evidence is provided. Other comparables are materially different or insufficiently described, including a flat at £83,000 and properties at £235,000 and £750,000. A reliable GDV or market value cannot therefore be established.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining commercial valuation, tenure and title information, a measured costed refurbishment schedule, and evidence of achievable commercial rent. Do not rely on residential conversion potential without planning and other required consents.

Works Required

The description supports a general upgrade and improvement of the existing retail accommodation. No specific defects, specification, statutory requirements or refurbishment costs are supplied. Conversion of the first floor to residential accommodation would require the necessary consents and cannot be assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without a supportable post-works value, refurbishment budget, achievable rent, tenure information and finance assumptions. Residential conversion is only described as potential and is subject to consents.

Buy-to-Let Analysis

A BTL assessment cannot be established because no commercial rent or passing tenancy is supplied. The £1,150 pcm evidence relates to an advertised three-bedroom residential property and is not applicable to this commercial building. The property is offered with vacant possession.

Flip Analysis

A flip appraisal cannot be supported because there is no reliable GDV, works allowance or selling-cost allowance. The available sold comparables are heterogeneous and do not provide sufficient evidence for this specific 892 sq ft two-storey retail property.

Investor Risks & Due Diligence

• Tenure is not supplied.

• No commercial rent, passing tenancy or lease information is supplied.

• The residential conversion potential is subject to consents and is unconfirmed.

• Condition and refurbishment costs are not quantified.

• EPC, heating and council tax information are not supplied.

• Additional fees may be listed in the Special Conditions of Sale.

• The supplied sold comparables are heterogeneous and not sufficiently detailed for a reliable valuation.

• The £1,150 pcm rental evidence is for an advertised three-bedroom residential property and is not directly relevant to this commercial asset.

Recommendation

Proceed only after obtaining commercial valuation, tenure and title information, a measured costed refurbishment schedule, and evidence of achievable commercial rent. Do not rely on residential conversion potential without planning and other required consents.

Strategy Rating

Analysis Confidence

The evidence confirms size, use, location and vacant possession, but omits tenure, EPC, heating, rent, condition costs, valuation evidence directly comparable to the property, and potential conversion consents.