Estate of 94 retirement bungalows goes up for sale in Burnley - here's how much for
A whole estate of 94 bungalows has gone up for sale in a Lancashire town.
Weavers Fold, off Gannow Lane, Burnley, is being offered for sale for £8.7m by agents Trevor Dawson.
It is believed that the development, which is aimed at over-55s, was built by specialist developer J and P Nixon Builders of Bilsborrow, who have built several other similar estates in the borough and have been given permission for a new £3m, 35-home site further along Gannow Lane.
The Weavers Fold estate is currently fully-let with a “substantial waiting list for available properties”.
What’s on offer?
The Weavers Fold development is within a series of terraces providing 94 units made from reconstituted stone. Each property has its own garden, parking and two bedrooms. According to the agent, each unit currently provides a weekly rental of £110, generating a total annual income of £537,680.
All the landscaping within the development is maintained by the landlord.
The agent states: “The development is conveniently located at the edge of Burnley but within close proximity to both the motorway network and Rosegrove Train Station. Burnley town centre is approximately one mile distance.”