2-22 Yorkshire Street Burnley Lancashire BB11 2DJ

2-22 Yorkshire Street
Burnley
Lancashire
BB11 2DJ

Town Centre Retail Parade Investment

Comprising an unbroken parade of 11 retail units
Totalling approximately 778.99 sq m (8,385 sq ft)
Prominent position by major junction
Nearby occupiers include TK Maxx, Boots the Chemist, Superdrug, JD Wetherspoon and McDonalds
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
97
Auction
19th May 2016
Rent
£70,076 per Annum Exclusive
Status
Sold
Price
£453,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Hansteen

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Town Centre Retail Parade Investment

Comprising an unbroken parade of 11 retail units
Totalling approximately 778.99 sq m (8,385 sq ft)
Prominent position by major junction
Nearby occupiers include TK Maxx, Boots the Chemist, Superdrug, JD Wetherspoon and McDonalds
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 97
Auction 19th May 2016
Rent £70,076 per Annum Exclusive
Status Sold
Price £453,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Hansteen

Property Information

Location

Miles: 12 miles east of Blackburn, 30 miles north of Manchester, 33 miles west of Leeds
Roads: A6114, A646, M65 (Junctions 10 & 11)
Rail: Burnley Central and Burnley Manchester Road Railway Stations
Air: Leeds Bradford International Airport

Situation

The property occupies a prominent island site on the north side of Yorkshire Street at its junction with Church Street, close to the pedestrianised St James Street and The Mall Shopping Centre.
Nearby occupiers include Boots the Chemist, Superdrug, Poundworld, 99p Stores, JD Wetherspoon, McDonald’s and the substantial TK Maxx and Poundstretcher stores on Church Street.

Tenure

Long Leasehold. Held for a term of 99 years from 25th December 1983 at a fixed rent of £100 per annum.

Location

Miles: 12 miles east of Blackburn, 30 miles north of Manchester, 33 miles west of Leeds
Roads: A6114, A646, M65 (Junctions 10 & 11)
Rail: Burnley Central and Burnley Manchester Road Railway Stations
Air: Leeds Bradford International Airport

Situation

Tenure

Long Leasehold. Held for a term of 99 years from 25th December 1983 at a fixed rent of £100 per annum.

Description

The property comprises an unbroken parade of 11 ground floor retail units.

Six Week Completion (subject to landlord consent to assign)

VAT

VAT is applicable to this lot.

EPC

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

Description

The property comprises an unbroken parade of 11 ground floor retail units.

Six Week Completion (subject to landlord consent to assign)

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit No.	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
2 & 20	Ground	Retail	167.50 sq m	(1,803 sq ft)	EAST LANCASHIRE PEOPLE FIRST	3 years from 01/03/2015	£13,500 (1)	28/02/2018
4	Ground	Retail	79.25 sq m	(853 sq ft)	INDIVIDUAL (t/a Beautyful You)	3 years from 01/10/2015 (2)	£7,677 (3)	30/09/2018
6	Ground	Retail	60.39 sq m	(650 sq ft)	C & C SPORTS LIMITED (t/a Cockers Sports Goods)	5 years from 01/01/2013	£7,150	31/12/2017
8	Ground	Retail	57.41 sq m	(618 sq ft)	AGE UK	5 years from 01/06/2013	£4,635	31/05/2018
10	Ground	Retail	66.05 sq m	(711 sq ft)	CYMK BURNLEY LIMITED (t/a Print 4 Less)	2 years from 01/05/2016	£7,500 (4)	29/05/2015
12	Ground	Retail	68.56 sq m	(738 sq ft)	INDIVIDUAL (t/a Discount Furniture)	3 years from 01/08/2014 (5)	£5,166	31/07/2017
14	Ground	Retail	67.17 sq m	(723 sq ft)	CLAIM£3000 LIMITED	2 years from 14/04/2016	£5,045	13/04/2018
16	Ground	Retail	70.33 sq m	(757 sq ft)	RIGHT CARPETS HB LIMITED	3 years from 20/04/2016 (6)	£6,000	19/04/2019
18	Ground	Retail	70.79 sq m	(762 sq ft)	CENTRAL DELI CONTINENTAL SHOP	3 years from 28/10/2015 (7)	£6,858	27/10/2018
22	Ground	Retail	71.54 sq m	(770 sq ft)	INDIVIDUAL (t/a Wake Up Glam)	4 years from 01/06/2014	£6,545	31/05/2018
Totals			778.99 sq m	(8,385 sq ft)			£70,076 (1) (3) (4)

(1) The current rent reserved is £12,500 p.a.x. The lease provides for a fixed increase in rent on 1st March 2017 to £13,500 p.a.x. The seller has agreed to adjust the completion monies so that the unit will produce £13,500 p.a.x from completion of the sale.
(2) The lease provides for a tenant option to determine on 1st April 2017, subject to 3 months prior written notice.
(3) The current rent reserved is £7,000 p.a.x. The lease provides for a fixed increase in rent on 1st October 2016 to £7,677 p.a.x. The seller has agreed to adjust the completion monies so that the unit will produce £7,677 p.a.x from completion of the sale.
(4) The tenant is currently benefiting from a 4 month concessionary rent. The seller has agreed to adjust the completion monies so the unit will produce £7,500 p.a.x from completion of the sale.
(5) The lease provides for a tenant option to determine on 31st July 2016 on providing 3 months notice.
(6) The lease provides for tenant options to determine on 20th April 2017 and 20th April 2018 on providing 3 months notice.
(7) The lease provides for a tenant option to determine on 28th January 2017 on providing 3 months notice.