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Parsons Brow, Market Street, Chorley, Lancashire, PR7 - Image 1
Parsons Brow, Market Street, Chorley, Lancashire, PR7 - Image 2
Parsons Brow, Market Street, Chorley, Lancashire, PR7 - Image 3

Parsons Brow, Market Street, Chorley, Lancashire, PR7

North West

£130,000
Listed on 21/09/2023

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property is situated in a prime central location just off Market Street in Chorley town centre, presenting a promising opportunity for redevelopment, subject to the necessary planning approvals. The site currently serves as a car park but has previously received granted applications for office use, which have since lapsed. Historical plans are available that outline potential layouts for ground and first-floor office spaces, as well as provisions for three parking spaces and modifications to part of the external facade. Covering an area of approximately 320 square meters (3,445 square feet), the property offers ample space for various redevelopment possibilities. Located adjacent to Bang Bang and directly across from Halliwell Street, it boasts easy access to local amenities and foot traffic, enhancing its appeal for future investment. Parsons Brow is an adopted road maintained by the Local Authority, ensuring accessibility remains unobstructed for vehicles visiting the site. The property is understood to be freehold, adding further value for prospective buyers while allowing flexibility in future development plans. While it’s noted that mains services were previously connected, potential investors should conduct their own enquiries regarding current service availability and any requirements for re-establishment. Interested parties are encouraged to consult with Chorley Borough Council's Business Rates Department for specific assessments. As VAT will be applicable on the purchase price, careful consideration of financial implications is advised. Viewing is available strictly by appointment through Peter E Gilkes & Company, offering interested investors a chance to explore this unique opportunity firsthand.

Investment Analysis

(PR7 area)
Area Average
£224/sq ft
Avg Rent (weekly)
£197
Avg Yield
4.2%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£80,000 - £120,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
66
Average per month
Market Turnover
24%
Properties sold annually

Local Market Trend (PR7)

Area prices are rising by +11.9% over the last 12 months
3 year growth: 12.9%
5 year growth: 23.1%
Investment Disclaimer: Analysis based on PR7 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Parsons Brow, Market Street, Chorley, Lancashire, PR7
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Mortgage Calculator

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£
£
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years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£476
Based on a loan of £97,500 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE