B & M 22 - 26 Standishgate Wigan Greater Manchester WN1 1UE

B & M
22 - 26 Standishgate
Wigan
Greater Manchester
WN1 1UE

Freehold Retail Investment

Pedestrianised town centre location
Close to The Galleries, Grand Arcade and Marketgate Shopping Centres
Let to B&M Retail Limited until 2027 (subject to option)
RPI linked rent review
Nearby occupiers include M&S, McDonald’s, Starbucks and Caffè Nero

Lot
65
Auction
18th October 2018
Rent
£150,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

Pedestrianised town centre location
Close to The Galleries, Grand Arcade and Marketgate Shopping Centres
Let to B&M Retail Limited until 2027 (subject to option)
RPI linked rent review
Nearby occupiers include M&S, McDonald’s, Starbucks and Caffè Nero

Lot 65
Auction 18th October 2018
Rent £150,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 18 miles north-west of Manchester, 19 miles north-east of Liverpool, 12 miles west of Bolton
Roads: A49, A577, M6, M58, M61
Rail: Wigan Wallgate, Wigan North Western
Air: Liverpool John Lennon Airport; Manchester International Airport

Situation

Wigan, with a population of 317,800, is a metropolitan borough of Greater Manchester, 18 miles north-west of Manchester and 19 miles northeast of Liverpool. The M6 motorway is located 3 miles to the west. The property is situated in a prominent location in the town centre on the pedestrianised Standishgate, between its junctions with Market Place and Crompton Street. The Galleries, Grand Arcade and Marketgate Shopping Centres are all located close by. Nearby occupiers include Game, Wilko, Caffè Nero (all adjacent), Marks &Spencer, Vision Express, Specsavers, WH Smith, Superdrug, NatWest, Starbucks and McDonald’s.

Tenure

Freehold.

Location

Miles: 18 miles north-west of Manchester, 19 miles north-east of Liverpool, 12 miles west of Bolton
Roads: A49, A577, M6, M58, M61
Rail: Wigan Wallgate, Wigan North Western
Air: Liverpool John Lennon Airport; Manchester International Airport

Situation

Tenure

Freehold.

Description

The property comprises a three storey retail store, of ground floor sales together with first and second floor ancillary accommodation. The property benefits from frontages to Standishgate, Hope Street and Marsden Street.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

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
Ground First Second	Retail Ancillary Ancillary	1,718.32 sq m 993.78 sq m 263.29 sq m	(18,496 sq ft) (10,697 sq ft) (2,834 sq ft)	B&M RETAIL LIMITED (1)	10 years from 08/06/2017 on a full repairing and insuring lease (2)	£150,000	2022 (2) (3)
Total		2,975.39 sq m	(32,027 sq ft)			£150,000

(1) For the year ended 31st March 2018, B&M Retail Limited reported a turnover of £2,629,145,000, pre-tax profits of £236,006,000 and a net worth of £600,542,000 (Source: - Experian 17/09/2018). B&M was formed in 1978 and is now one of the leading variety retailers in the UK. From its first store in Blackpool, Lancashire, B&M has grown to over 540 stores and employs over 24,500 colleagues (Source: www.bandmretail.com).
(2) The lease provides a tenant option to determine on 08/06/2022 subject to a break penalty payable by the tenant of £37,500. The lease is subject to a a schedule of condition.
(3) The rent review in 2022 is linked to the Retail Price Index (RPI) to a minimum of 1% per annum and a maximum of 3% per annum compounded.