16 - 20 Chapel Street Chorley Lancashire PR7 1BW

16 - 20 Chapel Street
Chorley
Lancashire
PR7 1BW

Freehold Retail Investment

  • Let to tenants trading as William Hill and Specsavers
  • New 10 year lease renewal to Specsavers at a re-based rent (subject to option)
  • Specsavers in occupation since 1990
  • Pedestrianised town centre location between Market Street and Market Walk Shopping Centre and close to covered market
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    75
  • Auction
    7th July 2016
  • Rent
    £57,625 per Annum Exclusive
  • Status
    Sold
  • Price
    £527,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On Behalf of Receivers CBRE
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail Investment

  • Let to tenants trading as William Hill and Specsavers
  • New 10 year lease renewal to Specsavers at a re-based rent (subject to option)
  • Specsavers in occupation since 1990
  • Pedestrianised town centre location between Market Street and Market Walk Shopping Centre and close to covered market
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 75
  • Auction 7th July 2016
  • Rent
  • Status Sold
  • Price £527,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On Behalf of Receivers CBRE

Property Information

Location
Miles
28 miles north-west of Manchester, 29 miles north-east of Liverpool
Roads
A581, A674, M61 (junction 8)
Rail
Chorley Railway Station
Air
Manchester Airport
Situation

The property is situated on the southern side of the pedestrianised section of Chapel Street, between its junctions with Church Street and Market Street. The property is located near to Market Walk Shopping Centre that houses occupiers including B&M Bargains, Iceland, Peacocks, Boots the Chemist, JD Sports and New Look. Branches of RBS, Natwest, Halifax, TSB, and Santander banks are also located nearby. The covered market is situated nearby as is the Flat Iron public car park which is just a short walk away with parking for approximately 384 cars.

Tenure

Freehold.

Location
Miles
28 miles north-west of Manchester, 29 miles north-east of Liverpool
Roads
A581, A674, M61 (junction 8)
Rail
Chorley Railway Station
Air
Manchester Airport
Situation

The property is situated on the southern side of the pedestrianised section of Chapel Street, between its junctions with Church Street and Market Street. The property is located near to Market Walk Shopping Centre that houses occupiers including B&M Bargains, Iceland, Peacocks, Boots the Chemist, JD Sports and New Look. Branches of RBS, Natwest, Halifax, TSB, and Santander banks are also located nearby. The covered market is situated nearby as is the Flat Iron public car park which is just a short walk away with parking for approximately 384 cars.

Tenure

Freehold.

Description

The property comprises two ground floor units with ancillary accommodation on the first floor.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two ground floor units with ancillary accommodation on the first floor.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
Unit 16 Ground Retail
105.50 sq m
(1,136 sq ft)
WILLIAM HILL
ORGANIZATION
LIMITED (1)
20 years from
27/09/2010 (2)
£31,000 27/09/2020 &
27/09/2025
(26/09/2030)
Unit 18-20 Ground
First
Retail
Ancillary
121.00 sq m
108.00 sq m
(1,302 sq ft)
(1,163 sq ft)
SPECSAVERS
OPTICAL
SUPERSTORES
LIMITED (3)
10 years from
2016 (4)
£26,625 (4) 2021
(2026)
Totals    
334.53 sq m
(3,601 sq ft)
    £57,625 (4)

(1) For the year ending 29th December 2015, William Hill Organization Limited reported a turnover of £873,900,000, pre-tax profits of £246,400,000 and a total net worth of £-625,000,000. (Source: Experian Group 08/06/2016)
(2) The lease provides for tenant options to determine on 26th September 2020 and 26th September 2025.
(3) For the year ending 28th February 2015, Specsavers Optical Superstores Limited reported a turnover of £433,826,000, pre-tax profits of £20,398,000 and a total net worth of £54,568,000. (Source: Experian Group 08/06/2016)
(4) The property was let to Specsavers Optical Superstores Limited by way of a 25 year lease from 19th December 1990 at a rent of £40,000 p.a.x. Terms for a new 10 year lease at a commencing rent of £26,625 p.a.x with a rent review and tenant option to determine on the 5th anniversary of the term has been agreed and is currently in solicitors hands due to complete imminently.

Property Documents

  • Site Plan
    Updated Date
    15.06.16
    File Size
    64 KB
    View PDF
  • Catalogue Page
    Updated Date
    15.06.16
    File Size
    624 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Inam Hasan 0113 283 4400inam.hasan@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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