Let to Tesco Stores Limited (with 2020 rental increase to min. £72,442.97 p.a (3)) and Barnardo's
Prominent roadside position in a densely populated residential area
1.3 miles north west of Wigan Town Centre
On site parking for approximately 17 cars
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 32
Auction 16th February 2017
Rent £85,927 per Annum Exclusive
Status Sold
Price £1,160,000
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
18 miles north-west of Manchester, 20 miles north-east of Liverpool
Roads
A49, A577, M58 (Junction 26)
Rail
Wigan Wallgate, Wigan North Western
Air
Liverpool John Lennon Airport, Manchester International Airport
Situation
The property is located in the popular suburb of Pemberton, some 1.3 miles north-west of Wigan Town Centre. The property is prominently situated on Gidlow Lane close to its junction with Spencer Road which provides direct access to the A49. The surrounding area is predominantly residential with a small parade comprising other local amenities.
Tenure
Freehold.
Location
Miles
18 miles north-west of Manchester, 20 miles north-east of Liverpool
Roads
A49, A577, M58 (Junction 26)
Rail
Wigan Wallgate, Wigan North Western
Air
Liverpool John Lennon Airport, Manchester International Airport
Situation
The property is located in the popular suburb of Pemberton, some 1.3 miles north-west of Wigan Town Centre. The property is prominently situated on Gidlow Lane close to its junction with Spencer Road which provides direct access to the A49. The surrounding area is predominantly residential with a small parade comprising other local amenities.
Tenure
Freehold.
Description
The property comprises two ground floor retail units with on site parking for approximately 17 cars. Unit 1 benefits from an on-site ATM.
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 two ground floor retail units with on site parking for approximately 17 cars. Unit 1 benefits from an on-site ATM.
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
Reviews/(Reversion)
Unit 1
Ground
Convenience Store
351.17 sq m
(3,780 sq ft)
TESCO STORES LIMITED (1)
15 years from 04/11/2010
£68,927
04/11/2020 Minimum Increase (3) (03/11/2025)
Unit 2
Ground
Retail
77.48 sq m
(834 sq ft)
BARNARDO’S (2)
10 years from 04/01/2011
£17,000
04/01/2016 (03/01/2021)
Total
428.65 sq m
(4,614 sq ft)
£85,927
(1) Tesco is one of the largest supermarket chains in the UK, with over 3,500 stores and over 310,000 employees. (Source: www.tescoplc.com 18/01/2017) (2) Barnardo’s is the UK’s leading children’s charity helping more than 240,000 children, young people and their families every year. Barnardo’s has over 700 charity shops across the UK. (Source: www.barnardos.org.uk 18/01/2017) (3) As to the lease to Tesco Stores Limited, the 2020 rent review provides a minimum rental increase in line with RPI or to £72,442.97 p.a., whichever is greater. Please refer to the legal documentation for further information.
Contacts
Seller's Solicitors
Hamlins LLP Roxburghe House273-287 Regents Street London W1B 2AD
