22 / 24 Henshaw Street & 37 Albion Street Oldham Greater Manchester OL1 3AA

22 / 24 Henshaw Street & 37 Albion Street
Oldham
Greater Manchester
OL1 3AA

Virtual Freehold Retail Investment

  • Prominent Town Centre location between Market Hall and the Spindles Shopping Centre
  • Tenants include Coral Racing Limited and Game Retail Limited
  • Neighbouring occupiers Primark, Sports Direct, McDonald's and Specsavers.
  • Producing £65,000 p.a.x. (Gross)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    53
  • Auction
    25th May 2017
  • Rent
    £65,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £530,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

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

Virtual Freehold Retail Investment

  • Prominent Town Centre location between Market Hall and the Spindles Shopping Centre
  • Tenants include Coral Racing Limited and Game Retail Limited
  • Neighbouring occupiers Primark, Sports Direct, McDonald's and Specsavers.
  • Producing £65,000 p.a.x. (Gross)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 53
  • Auction 25th May 2017
  • Rent
  • Status Sold
  • Price £530,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
7 miles north east of Manchester, 28 miles south west of Leeds.
Roads
M60, A627(M) M62
Air
Manchester Airport
Situation

The property is situated in a prominent corner location on the south side of pedestrianised Albion Street, at its junction with Henshaw Street and directly opposite the popular Tommyfield Market Hall within the heart of the Town Centre. The property benefits from being situated on the main pedestrian route between the Tommyfield Market Hall and the major Spindles Shopping Centre which houses occupiers including Debenhams, Next, Topman, H&M, Boots the Chemist and Pandora. Other neighbouring occupiers include Primark, Sports Direct, McDonald's and Specsavers.

Tenure

Virtual Freehold. Held for a term of 999 years from 1st August 1895 until 2894 at a current rent reserved of £80 per annum.

Location
Miles
7 miles north east of Manchester, 28 miles south west of Leeds.
Roads
M60, A627(M) M62
Air
Manchester Airport
Situation

The property is situated in a prominent corner location on the south side of pedestrianised Albion Street, at its junction with Henshaw Street and directly opposite the popular Tommyfield Market Hall within the heart of the Town Centre. The property benefits from being situated on the main pedestrian route between the Tommyfield Market Hall and the major Spindles Shopping Centre which houses occupiers including Debenhams, Next, Topman, H&M, Boots the Chemist and Pandora. Other neighbouring occupiers include Primark, Sports Direct, McDonald's and Specsavers.

Tenure

Virtual Freehold. Held for a term of 999 years from 1st August 1895 until 2894 at a current rent reserved of £80 per annum.

Description

The property, a modern and substantial retail building comprises self-contained retail accommodation on the ground floor, a self contained Betting Office in the basement and self contained retail accommodation on the first floor. The property benefits from frontages onto both the pedestrianised Henshaw Street and Albion Street.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property, a modern and substantial retail building comprises self-contained retail accommodation on the ground floor, a self contained Betting Office in the basement and self contained retail accommodation on the first floor. The property benefits from frontages onto both the pedestrianised Henshaw Street and Albion Street.

VAT

VAT is applicable to this lot.

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 Reversion
20/24
Henshaw
Street
Basement
Betting Office

193.52 sq m
(2,083 sq ft)
CORAL RACING
LIMITED (1)
10 years from
17/04/2010
£16,000
16/04/2020
20/24
Henshaw
Street
Ground
Retail
156.17 sq m
(1,681 sq ft)
GAME RETAIL
LIMITED (2)
5 years from 14/01/2015
(3)
£40,000
25/06/2020
37 Albion
Street
Ground
First
Retail
Retail
8.83 sq m 169.18 sq m
(95 sq ft) (1,821 sq ft
INDIVIDUAL t/a NJ Mobiles
3 years from 19/04/2016
(4)
£9,000
18/04/2019
Total
   
527.70 sq m
(5,680 sq ft)
    £65,000
 

(1) For the year ending 26th September 2015, Coral Racing Limited reported a turnover of £667,786,000, pre-tax profits of £81,106,000 and a total net worth of £264,149,000. (Source Experian Group 27/04/2017)
(2) For the year ending 30th July 2016, Game Retail Limited reported a turnover of £583,890,000, pre-tax profits of £6,868,000 and a total net worth of £72,104,000 (Source Experian Group 27/04/2017)
(3) As to the lease to Game Retail Limited, the lease provides for a tenant option to determine the lease on 31/05/2018.
(4) As to the lease of 37 Albion Street, the lease is outside the security of tenure provisions of the Landlord and Tenant Act 1954.

Property Documents

  • Catalogue Page
    Updated Date
    03.05.17
    File Size
    625 KB
    View PDF
  • Site Plan
    Updated Date
    03.05.17
    File Size
    2 MB
    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

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Associate Auctioneers
Edwards & Co. 26 King Street
Manchester
M2 6AY
Martin Hamer 0161 833 9991martin@edwardsandco.com
Seller's Solicitors
Hill Dickinson LLP No. 1 St Paul's Sq,
Liverpool
L3 9SJ
Tony Houghton 0151 600 8806tony.houghton@hilldickinson.com

Useful Links

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

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