43 bed property for sale

Block Of 43 Apts, The Art School, Union Street, Darwen BB3

Smart Investment & Management are proud to exclusively offer this stunning residential Victorian conversion. This is an unbroken, income producing development consisting of 43 1,2 and 3 bedroom duplex apartments.

The Art School, a prestigious investment opportunity in the heart of Darwen, boasting a remarkable block of apartments that have been finished to the highest of standards.

Originally a Victorian building, The Art School underwent a transformation in 2014 to become the stunning development it is today. Consisting of 43 self-contained apartments ranging from 1 to 3 bedrooms, this property caters to a diverse range of tenants seeking modern living in the centre of Darwen. Additionally, the availability of 35 parking spaces adds to the convenience of the development.

The current passing rent of the development stands at £316,678.08 per annum, making it a lucrative income-producing asset upon completion.

Each apartment within the development benefits from contemporary design and offers residents a comfortable living space. The development is currently fully occupied.

For those interested in viewing or a data room, this is available upon request.

Location

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  The Art School is located a 6 minute walk from Darwen train station
  
  
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  Train links – Manchester Victoria (47 minutes), Blackburn (8 minutes), Preston (42 minutes)
  
  
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  The Art School is located a 5 minute walk from the market square / high street
  
  
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  The Art School is located a 5 minute walk from the nearest bus stop
  
  

Darwen, is currently experiencing significant economic growth, coupled with a recent £90m transformation of the town - driven by investments in its manufacturing and technology sectors. This has led to new business establishments and expansions, boosting job opportunities, and decreasing unemployment rates. The local government supports this momentum through infrastructure development and business incentives, contributing to a thriving economic landscape in 2025.

Summary

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  The Art School, Knott Street, Darwen, BB3 2rd / BB3 0DJ
  
  
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  43 1,2 and 3 bedroom duplex apartments
  
  
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  35 parking spaces
  
  
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  Passing rent of £316,678.08 pa
  
  
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  Victorian conversion completed in 2014
  
  
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  Stone detailing including arches, mullions, and pilasters; secure access system; personnel lift; fire alarms; dry risers; automatic smoke vents; secure designated parking; stone walls with railings
  
  
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  Building is all electric.
  
  

Tenure

The majority of the site is freehold with title number LA829518.

*A a small section of the car park is held on a long lease from Blackburn Council (999 years from 31st August 2006), the leasehold title number being LAN39098. Official copies including the Lease and the Lessors freehold title are available upon request. Gr pa of £10.

The seller completed a purchased of both freehold and leasehold interests on 15th September 2017.

Location

Darwen is a market town in Lancashire, England, located in the Blackburn with Darwen borough. It's known for its Victorian architecture, including stone terraced housing, and is situated in a dramatic West Pennine landscape, characterised by moorland and a river valley. The town is a former centre of the cotton industry and has a rich history.

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