Pub conversion, Lancashire
Conversion of commercial property into 14 bed co-living.
Planning approved and detailed drawings and specifications ready for change of use from public house to 14 bed all en-suite co-living with two kitchens and generous communal space.
The property is located less than 1km from Burnley town centre and within walking distance of supermarkets, public houses and schools. There are a range of benefits nearby including leisure and retail chains, plus access to several major roads including the M65. There are several large employers in the area in need of short-term accommodation.
Direct rail link to Manchester
A series of high-profile regeneration schemes, including a direct rail link to Manchester that has reduced the journey time between Burnley and central Manchester from around 1 hour and 25 minutes to approximately 45 minutes, an aerospace supply village and multimillion-pound investment in the former Victorian industrial heartland through a project called ‘On The Banks’ are radically transforming the economy of the Lancashire town.
The town center has recently undergone £4 million of improvements. And also the £26million investment of new planned Reel cinema at Pioneer Place which will boast restaurants and shops.
The 28,500 sq ft scheme is being funded by Burnley Borough Council with support from Lancashire County Council. In addition to the cinema, the Curzon Street scheme will include restaurants, bars, shops, a public plaza and a 225 space car park. The aim is to start construction in the summer of 2021 with the cinema being open for business in spring 2023.
Burnley is also attracting more business investment which, in turn, is creating more local employment opportunities. As the town’s appeal continues to grow, demand for homes and accommodation is pushing up prices. In summary, what makes Burnley an attractive commercial and residential choice is that it is ‘up and coming’ rather than ‘arrived’. Burnley’s slow but steady growth bodes well for the local economy and the town’s future.
Ten-fold increase in student numbers
in Burnley student campus by 2025
The University of Central Lancashire is planning a ten-fold increase in student numbers at its Burnley campus. The number of students in the town will rise from under 400 to 2,000 by 2021 and 4,000 by 2025.
Project description (Present)
A three floors stone built public house (Pub). The property is fully stripped out and ready for building work to commence.
Project description and vision
- Conversion into a fully licensed 14-bed, all en-suite, co-living.
- The whole loft space will consist of communal areas.
- Refurb: £350.000
- Potential gross income: £93.000 pa
- Gross yield: 14%
- Cashflow forecast: £2.900 pcm
To Burnley city centre 5 min walk
To Manchester city centre 45 min (train)
Developer: GYLLENDAL Ltd