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).
