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
    18/Oct/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    Withdrawn Post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
  • B & M<br>22 - 26 Standishgate<br>Wigan<br>Greater Manchester<br>WN1 1UE
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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.

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.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
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)
£150,0002022 (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.

Property Documents

  • Site Plan
    Updated Date
    26.09.18
    File Size
    4 MB
    View PDF
  • Catalogue Page
    Updated Date
    26.09.18
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Associate Auctioneers
Metis Real Estate Northern Assurance Buildings, Albert Square, Princess Street
Manchester
M2 4DN
Jonathan Phillips 0161 359 4306jphillips@metisrealestate.com
Seller's Solicitors
Platt & Fishwick
Ian Armstrong 01942 243 281IArmstrong@plattandfishwick.co.uk

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