9 Cleveland Street Chorley Lancashire PR7 1BH

  • 9 Cleveland Street<br>Chorley<br>Lancashire<br>PR7 1BH

9 Cleveland Street
Chorley
Lancashire
PR7 1BH

Prominent Town Centre Retail Investment

  • Let to Burton/Dorothy Perkins Properties Limited
  • New lease (renewal) from June 2017
  • Tenant in occupation since August 1989
  • Approximately 4,369 sq ft
  • Opposite Chorley's Covered Market and close to Market Walk Shopping Centre
  • Lot
    74
  • Auction
    19th October 2017
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £325,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Prominent Town Centre Retail Investment

  • Let to Burton/Dorothy Perkins Properties Limited
  • New lease (renewal) from June 2017
  • Tenant in occupation since August 1989
  • Approximately 4,369 sq ft
  • Opposite Chorley's Covered Market and close to Market Walk Shopping Centre
  • Lot 74
  • Auction 19th October 2017
  • Rent £40,000 per Annum Exclusive
  • Status Sold
  • Price £325,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
8 miles south of Preston
25 miles north of Manchester
Roads
A6, M61 (Junction 8)
Rail
Chorley Railway Station
Air
Manchester Airport
Situation

The property occupies a prominent corner location fronting the pedestrianised Cleveland Street, between its junctions with Chapel Street and High Street, opposite the town's covered market. Market Walk Shopping Centre is located nearby with retailers including Boots the Chemist, Costa, Peacocks, Poundland, Iceland, and B&M Bargains. Other occupiers represented in the town include WH Smith, Superdrug and JD Wetherspoon.

Tenure

Joint Tenancy. Part Freehold and Part Long Leasehold (for a term of 999 years from 4th January 1828 at a nominal ground rent).

Location
Miles
8 miles south of Preston
25 miles north of Manchester
Roads
A6, M61 (Junction 8)
Rail
Chorley Railway Station
Air
Manchester Airport
Situation

The property occupies a prominent corner location fronting the pedestrianised Cleveland Street, between its junctions with Chapel Street and High Street, opposite the town's covered market. Market Walk Shopping Centre is located nearby with retailers including Boots the Chemist, Costa, Peacocks, Poundland, Iceland, and B&M Bargains. Other occupiers represented in the town include WH Smith, Superdrug and JD Wetherspoon.

Tenure

Joint Tenancy. Part Freehold and Part Long Leasehold (for a term of 999 years from 4th January 1828 at a nominal ground rent).

Description

The property comprises a ground floor shop with ancillary accommodation on the first floor.

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 comprises a ground floor shop with ancillary accommodation on the first floor.

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

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversion
Ground
First		 Retail/Ancillary
Ancillary
187.11 sq m
218.79 sq m
(2,014 sq ft)
(2,355 sq ft)
 BURTON/DOROTHY
PERKINS
PROPERTIES
LIMITED (1)		 3 years from
24/06/2017 on a full
repairing and
insuring lease		 £40,000 23/06/2020
Totals
405.90 sq m
(4,369 sq ft)
     £40,000  

(1) Dorothy Perkins opened its first store in 1939 and now operates from around 400 stores throughout the UK. For the year ending 27th August 2016, Burton/Dorothy Perkins Limited reported a turnover of £10,971,000, pre-tax profits of £199,000 and a net worth of –£272,000 (Sources: www.dorothyperkins.com and Experian Group 07/09/2017).

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate Auctioneers
Robert Pinkus & Co
Danny Pinkus 01772 769 000danny@pinkus.co.uk
Seller's Solicitors
Napthens Solicitors 7 Winckley Square
Preston
PR1 3JD
John Lomax 01772 904 239john.lomax@napthens.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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