'Significant' mill in Burnley's historic Weavers' Triangle available to buy for £979k
A huge mill located in the historic Weavers' Triangle area of Burnley has been put up for sale for a cool £979,000.
Oakmount Mill in Wiseman Street has been subdivided into 37 units, which are tenanted and generate an attractive rent of £98,250 per year.
The two adjoining single storey northern light industrial units, located off Westgate, are being marketed by Whiteacres Property in the town.
The units are said to have an excellent occupancy rate, emphasising the current high level of demand from tenants for light industrial accommodation. Existing tenants will be unaffected by the sale.
The property also features a communal car park and loading area positioned at the front of the site.
An attractive yield of 10% makes this an ideal pension fund investment for companies looking to grow their portfolio according to the agents.
Oakmount Mill is famous for housing one of Burnley' s few remaining mill engines.
The impressive engine, one of scores which once operated in Burnley, was installed by W. and J. Yates, the Blackburn engine makers, following a fire at the mill in 1886 and it was in use until the closure of Oak Mount Mill, in 1979.
For further details call Whiteacres on 01282 428486.