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
    04/Apr/2019
  • Rent
    £100,000 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Auction & Property Update
  • 53 Warrington Street<br>Ashton-under-Lyne<br>Greater Manchester<br>OL6 7JG
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

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.

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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
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 Area4,888.25 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

  • Solicitors Legal Pack
    Updated Date
    14.03.19
    File Size
    74 MB
    Login to View
  • Catalogue Page
    Updated Date
    13.03.19
    File Size
    773 KB
    View PDF
  • Site Plan
    Updated Date
    13.03.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 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
George GoucherGeorge Goucher 020 7034 4860george.goucher@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

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now