Prominent position fronting the pedestrianised Market Street
Adjacent to Crompton Place Shopping Centre
Nearby occupiers include Barclays, Thorntons, Marks & Spencer, Accessorize and Clarks
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 75
Auction 8th December 2016
Rent £15,000 per Annum Exclusive
Status Sold
Price £105,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
12 miles north west of Manchester
Roads
A58, A666, M6, M60, M61, M62
Rail
Bolton Rail
Air
Manchester Airport
Situation
The property occupies a prominent position fronting the pedestrianised Market Street. The property is located adjacent to the Crompton Place Shopping Centre which houses occupiers including Lloyds TSB, Ernest Jones and Poundland. Just south of the property is Victoria Square and Newport Street which is currently undergoing considerable regeneration, including a new £48m transport interchange. Other nearby occupiers include Barclays, Thornton's, Marks & Spencer, Accessorize and Clarks.
Tenure
Freehold.
Location
Miles
12 miles north west of Manchester
Roads
A58, A666, M6, M60, M61, M62
Rail
Bolton Rail
Air
Manchester Airport
Situation
The property occupies a prominent position fronting the pedestrianised Market Street. The property is located adjacent to the Crompton Place Shopping Centre which houses occupiers including Lloyds TSB, Ernest Jones and Poundland. Just south of the property is Victoria Square and Newport Street which is currently undergoing considerable regeneration, including a new £48m transport interchange. Other nearby occupiers include Barclays, Thornton's, Marks & Spencer, Accessorize and Clarks.
Tenure
Freehold.
Description
The property comprise a ground floor retail unit with ancillary accommodation on first and second floors.
The adjoining property 2-10 Market Street is being offered in lot 21 of this catalogue.
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 comprise a ground floor retail unit with ancillary accommodation on first and second floors.
The adjoining property 2-10 Market Street is being offered in lot 21 of this catalogue.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Reversion
12 Market Street
Ground First Second
Retail Ancillary Ancillary
35.80 sq m 37.00 sq m 37.00 sq m
(385 sq ft) (389 sq ft) (389 sq ft)
INDIVIDUAL (t/a Luscious Dessertz) (1)
5 years from 23/06/2016
£15,000 (2)
23/06/2021
Total
109.80 sq m
(1,163 sq ft)
£15,000
(1) The tenant is due to take occupation shortly. (2) For the purpose of clarification, the current rent is £7,000 per annum exclusive. The lease provides fixed rental increases to £14,000 in 22/12/2017 and £15,000 in 22/12/2019. The seller has agreed to adjust the completion monies so that the unit will effectively produce £15,000 from completion of sale.
