53 Warrington Street Ashton-under-Lyne Greater Manchester OL6 7JG

53 Warrington Street
Ashton-under-Lyne
Greater Manchester
OL6 7JG

Substantial Freehold Retail Investment

  • Predominantly let to Poundstretcher Limited (trading as Bargain Buys)
  • New 10 year lease renewal from 25th October 2018 (subject to option)
  • Approximately 4,888 sq m (52,615 sq ft)
  • Prime pedestrianised location fronting Ladysmith Shopping Centre
  • Potential to convert upper parts to residential (subject to lease and consents)
  • Nearby occupiers include McDonald’s, Iceland and Boots the Chemist
  • Lot
    36
  • Auction
    4th April 2019
  • Rent
    £100,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Substantial Freehold Retail Investment

  • Predominantly let to Poundstretcher Limited (trading as Bargain Buys)
  • New 10 year lease renewal from 25th October 2018 (subject to option)
  • Approximately 4,888 sq m (52,615 sq ft)
  • Prime pedestrianised location fronting Ladysmith Shopping Centre
  • Potential to convert upper parts to residential (subject to lease and consents)
  • Nearby occupiers include McDonald’s, Iceland and Boots the Chemist
  • Lot 36
  • Auction 4th April 2019
  • Rent
  • Status Withdrawn Post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
6 miles east of Manchester City Centre
Roads
M60 (J23), M67 (J1A)
Rail
Ashton-under-Lyne
Air
Manchester Airport
Situation

Ashton-under-Lyne is a market town six miles east of Manchester city centre. The property is situated in a prime location on the western side of the pedestrianised Warrington Street, opposite Bow Street and Ashton Market. The property fronts Ladysmith Shopping Centre, which houses retailers including Boots the Chemist, Specsavers, Costa Coffee and Greggs. Other nearby occupiers on Warrington Street include McDonald’s, Topshop and Shoe Zone.

Tenure

Freehold.

Location
Miles
6 miles east of Manchester City Centre
Roads
M60 (J23), M67 (J1A)
Rail
Ashton-under-Lyne
Air
Manchester Airport
Situation

Ashton-under-Lyne is a market town six miles east of Manchester city centre. The property is situated in a prime location on the western side of the pedestrianised Warrington Street, opposite Bow Street and Ashton Market. The property fronts Ladysmith Shopping Centre, which houses retailers including Boots the Chemist, Specsavers, Costa Coffee and Greggs. Other nearby occupiers on Warrington Street include McDonald’s, Topshop and Shoe Zone.

Tenure

Freehold.

Description

The property comprises a substantial and well configured ground floor shop with ancillary accommodation on part first floor. In addition, part of the first floor and the second floor are currently vacant and offer potential to convert to residential use, subject to the necessary consents.

VAT

VAT is applicable to this lot.

EPC

Band B

Description

The property comprises a substantial and well configured ground floor shop with ancillary accommodation on part first floor. In addition, part of the first floor and the second floor are currently vacant and offer potential to convert to residential use, subject to the necessary consents.

VAT

VAT is applicable to this lot.

EPC

Band B

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
Ground
Part First
Retail
Ancillary
1,418.15 sq m
340.70 sq m
(15,265 sq ft)
(3,667 sq ft)
POUNDSTRETCHER
LIMITED
t/a Bargain Buys (1)
10 years from
25/10/2018 until
24/10/2028 (2) on
a full repairing and
insuring lease
£100,000 (3) 25/10/2023 (4)
Part First
Second
Roof
Ancillary
Ancillary
Plant
1,306.00 sq m
1,628.60 sq m
194.80 sq m
(14,057 sq ft)
(17,530 sq ft)
(2,096 sq ft)
VACANT - - -
Total Commercial Area 4,888.25 sq m
(52,615 sq ft)
  £100,000    

(1) For the year ending 31st March 2018, Poundstretcher Limited reported a turnover of £387,442,689, pre-tax profits of £2,070,416 and a total net worth of £21,574,962 (Source: Experian Group 21/02/2019). Established in 1981, Poundstretcher is the UK’s leading variety discount retailer for quality food, toiletries, garden essentials and homeware brands and operates from over 400 stores nationwide (Source: www.poundstretcher.co.uk).
(2) The lease is subject to a tenant option to determine on 25th October 2024, subject to the tenant paying a sum equivalent to 3 months’ rent if exercised.
(3) The tenant benefits from a 6 month rent free period, taken as 12 months at half rent from term commencement. The vendor has agreed to adjust the completion monies so that the property will effectively produce £100,000 per annum from completion of the sale until the expiry of the concessionary rent period.
(4) The rent is reviewed upward only, to the higher of the passing rent or a sum equivalent to an indexed-linked review calculated on an RPI basis compounded annually over the 5 years immediately preceding the rent review date.

Property Documents

  • Catalogue Page
    Updated Date
    01.05.19
    File Size
    773 KB
    View PDF
  • Site Plan
    Updated Date
    01.05.19
    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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Hogan Lovells Solicitors Atlantic House, Holborn Viaduct
London
Ec1A 2FG
Jennifer Drurey 0207 296 5752jennifer.drurey@hoganlovells.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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