12-14 Chapel Street Chorley Lancashire PR7 1BW

12-14 Chapel Street
Chorley
Lancashire
PR7 1BW

Freehold Retail Investment

Let to R Roberts & Son (Warrington) Limited t/a Clarks
New 10 year lease renewal at a rebased rent (no breaks)
Tenant in occupation since at least 2006
Pedestrianised town centre location between Market Street and Marke Walk Shopping Centre and close to the covered market
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
18
Auction
8th December 2016
Rent
£32,000 per Annum Exclusive
Status
Sold
Price
£385,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Receivers at CBRE

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Freehold Retail Investment

Let to R Roberts & Son (Warrington) Limited t/a Clarks
New 10 year lease renewal at a rebased rent (no breaks)
Tenant in occupation since at least 2006
Pedestrianised town centre location between Market Street and Marke Walk Shopping Centre and close to the covered market
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 18
Auction 8th December 2016
Rent £32,000 per Annum Exclusive
Status Sold
Price £385,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Receivers at 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 which 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

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with ancillary accommodation on the first and second floors.

VAT

VAT is not 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.

EPC

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

Description

The property comprises a ground floor retail unit with ancillary accommodation on the first and second floors.

VAT

VAT is not applicable to this lot.

Note

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Review/(Reversion)
Ground First Second	Retail/Ancillary Ancillary Ancillary	129.50 sq m 83.90 sq m 80.80 sq m	(1,394 sq ft) (903 sq ft) (870 sq ft)	R ROBERTS & SON (WARRINGTON) LIMITED t/a Clarks	Lease renewal for 10 years from 06/12/2016 (1)	£32,000 (1)	07/12/2021 (05/12/2026)
Totals		294.20 sq m	(3,167 sq ft)			£32,000

(1) The tenant currently occupies the property on a 10 year lease from 6th December 2006 until 5th December 2016 at a current rent of £46,000 p.a.x. Heads of Terms have been agreed for a new 10 year lease from 6th December 2016 at a re-based rent of £32,000 p.a.x and is in solicitors hands due to complete imminently. The tenant is to benefit from a 6 month rent free period from completion of the lease. The seller has agreed to adjust the completion monies so the property will produce £32,000 p.a.x. from completion of the sale.