Units 26 & 32 Oakenclough Mill, Oakenclough Road, Scorton, Nr Garstang, Lancashire

Description

Workshop / warehouse / business unit of approximately 5,278 sq ft plus mezzanine of 98 sq m / 1,055 sq ft. The building comprises an open plan ground floor space suitable for workshop, warehouse, business space and storage, subject to planning consent. It also includes a basement floor and part mezzanine floor, with access to the roof. Vehicle access is available from the front for deliveries.

Accommodation

Ground floor: 20m x 18.5m = 370 sq m / 4,000 sq ft. Basement floor: 13.2m x 9m = 118.8 sq m / 1,278 sq ft. Part mezzanine floor: 10m x 9.8m = 98 sq m / 1,055 sq ft. Total combined internal space: 6,333 sq ft.

Location

Located within a former mill development off Oakenclough Road, part of the former Oakenclough Mill collection of buildings. The main road leading in is Strickens Lane. Sat Nav access: PR3 1TB.

Tenure / Property Information

Investment Analysis

Evidence is limited to three sparse sales at the same mill: £70,000 in 2023, £45,000 in 2021 and £38,000 in 2001. The £70,000 sale is the strongest available reference, but comparability, size and specification are not confirmed. The £80,000 guide is above the latest evidenced sale before fees. The £4,958 pcm figure is only an advertised rent at Oakenclough Mill and is not confirmed for these units.

Investment Snapshot

Strategy Recommendation

Do not bid at the guide without confirming legal-pack costs, planning, service-charge obligations, condition and unit-specific market rent. The available evidence currently supports neither a BTL nor a flip purchase at £80,000.

Works Required

No specific defects or refurbishment requirements are evidenced. Confirm condition and legality of the workshop, warehouse, basement, mezzanine, roof access and vehicle access; any works or change of use require survey and planning review.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A refinance at 75% of the base £70,000 GDV indicates £52,500 gross borrowing, before finance and valuation constraints. This is below the £80,000 guide before the known minimum £3,600 administration charge, so the refinance case is not supported at the guide.

Buy-to-Let Analysis

BTL yield cannot be established reliably. The £4,958 pcm figure is an advertised asking rent for Oakenclough Mill generally, not confirmed passing or achievable rent for Units 26 and 32. Commercial use, planning and demand require verification.

Flip Analysis

The base GDV is £70,000 against an £80,000 guide, before the £3,600 minimum administration charge and other disbursements. No supported refurbishment budget or selling allowance is available; the evidenced figures do not support a flip at the guide.

Investor Risks & Due Diligence

• Guide exceeds the strongest supplied comparable sale before fees.

• Advertised rent is not confirmed for these units and is not achieved rent.

• Ground rent, service charge and disbursements are unspecified and require legal-pack review.

• Workshop, warehouse, basement and mezzanine uses are subject to planning and legal verification.

• No condition survey or refurbishment cost evidence is supplied.

• Basement, mezzanine, roof access and delivery access may require specific inspection and compliance checks.

Recommendation

Do not bid at the guide without confirming legal-pack costs, planning, service-charge obligations, condition and unit-specific market rent. The available evidence currently supports neither a BTL nor a flip purchase at £80,000.

Strategy Rating

Analysis Confidence

Same-site sales provide limited value evidence, but unit comparability, condition, legal costs, planning position and achievable rent are not confirmed.