Units 1 & 2, 3 and 4 The Loom Leigh Greater Manchester WN7 4BA

Units 1 & 2, 3 and 4 The Loom
Leigh
Greater Manchester
WN7 4BA

Modern Leisure Investment with Asset Management Opportunity

  • Three leisure units forming part of the established scheme known as The Loom
  • Let to tenants trading as Nando's and Anytime Fitness
  • Adjacent to Tesco Extra and Cineworld
  • Busy location off Spinning Jenny Way (A578)
  • Proposal to develop 202 new homes south of the adjacent canal with a connecting footbridge between the two sites
  • Lot
    8
  • Auction
    12th February 2020
  • Rent
    £123,300 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,480,000
  • Sector
    Leisure
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • On behalf of LaSalle
  • Expand
  • Photos
  • Map

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

Modern Leisure Investment with Asset Management Opportunity

  • Three leisure units forming part of the established scheme known as The Loom
  • Let to tenants trading as Nando's and Anytime Fitness
  • Adjacent to Tesco Extra and Cineworld
  • Busy location off Spinning Jenny Way (A578)
  • Proposal to develop 202 new homes south of the adjacent canal with a connecting footbridge between the two sites
  • Lot 8
  • Auction 12th February 2020
  • Rent
  • Status Sold
  • Price £1,480,000
  • Sector
    Leisure
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • On behalf of LaSalle

Property Information

Location
Miles
14 miles west of Manchester
10 miles north-east of Warrington
Roads
A579, A578, A580
Air
Manchester Airport
Situation

Leigh is a busy commuter town located 14 miles west of Manchester city centre. The property is situated within the popular scheme known as The Loom, which occupies a prominent position on the busy Spinning Jenny Way, opposite the Spinning Gate Shopping Centre within the town centre. The Loom is home to a Tesco Extra, petrol filling station, Cineworld and Sports Direct, with a dedicated 800 space customer car park. Immediately to the south of the property, a planning application to develop 202 new homes south of the adjacent canal has been submitted, with a proposed possible footbridge connecting the development to The Loom. Further information can be found at https://planning.wigan.gov.uk/ REF: A/15/80681/OUTMAJ & A/18/86507/VARMAJ.

Tenure

Long Leasehold. Held from 18/12/2019 for a term of 250 years at a peppercorn rent.

Location
Miles
14 miles west of Manchester
10 miles north-east of Warrington
Roads
A579, A578, A580
Air
Manchester Airport
Situation

Leigh is a busy commuter town located 14 miles west of Manchester city centre. The property is situated within the popular scheme known as The Loom, which occupies a prominent position on the busy Spinning Jenny Way, opposite the Spinning Gate Shopping Centre within the town centre. The Loom is home to a Tesco Extra, petrol filling station, Cineworld and Sports Direct, with a dedicated 800 space customer car park. Immediately to the south of the property, a planning application to develop 202 new homes south of the adjacent canal has been submitted, with a proposed possible footbridge connecting the development to The Loom. Further information can be found at https://planning.wigan.gov.uk/ REF: A/15/80681/OUTMAJ & A/18/86507/VARMAJ.

Tenure

Long Leasehold. Held from 18/12/2019 for a term of 250 years at a peppercorn rent.

Description

The property comprises three well configured ground floor units, which are currently arranged to provide two restaurant units and a gym. The property benefits from rights to parking.

VAT

VAT is applicable to this lot.

EPC

Available to download at acuitus.co.uk

Description

The property comprises three well configured ground floor units, which are currently arranged to provide two restaurant units and a gym. The property benefits from rights to parking.

VAT

VAT is applicable to this lot.

EPC

Available to download at acuitus.co.uk

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Units 1 & 2 Ground Gym
483.37 sq m
(5,203 sq ft)
CBBWELLNESS
LIMITED
t/a Anytime
Fitness (1)
15 years from
31/10/2016
until
30/10/2031 (2)
£55,000 31/10/2021
and
31/10/2026
Unit 3 Ground Restaurant
326.18 sq m
(3,511 sq ft)
NANDO’S
CHICKENLAND
LIMITED (3)
20 years from
18/01/2012
until
17/01/2032 (4)
£68,300 18/01/2022
and
18/01/2027
Unit 4 Ground Restaurant
384.15 sq m
(4,135 sq ft)
VACANT
POSSESSION (5)
     
Total    
1,193.70 sq m
(12,849 sq ft)
    £123,300  

(1) Anytime Fitness opened its first club 16 years ago in Minnesota, USA and is now the world's largest health chain with 4,000+ clubs open in 33 countries and growing (Source: www.anytimefitness.co.uk/own-a-gym).
(2) The lease provides an option to determine on 30/10/2026, subject to 12 months' notice.
(3) Nando's has 410 restaurants in the UK and Ireland, with further stores internationally (Source: www.nandos.co.uk).
(4) The lease provides an option to determine on 18/01/2027, subject to 6 months' notice.
(5) The property was previously let to City Centre Restaurants (UK) Limited t/a Frankie & Benny's, who vacated the property in 2019.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Site Plan
    Updated Date
    22.01.20
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    22.01.20
    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

Associate Auctioneers
Metis Real Estate Northern Assurance Buildings, 9-21 Princess Street
Manchester
M2 4DN
Paul Jones 0161 359 4306pjones@metisrealestate.com
Seller's Solicitors
Mills & Reeve LLP 24 King William Street
London
EC4R 9AT
Fredrick Edlund +(44)(0)20 7648 5276Fredrik.Edlund@mills-reeve.com  Emily McKinnell 020 7648 5276 Emily.McKinnell@mills-reeve.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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