Let to Coral Racing Limited until 2027 (no breaks)
Prime pedestrianised town centre location opposite Charter Walk Shopping Centre
Asset Management Opportunities including possible surrender premium and re-letting
VAT-free investment
Lot 29
Auction 24th September 2021
Rent
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of Trustees
Property Information
Location
Miles
21 miles east of Preston, 24 miles north of Manchester, 30 miles west of Leeds
Roads
M6, M61, M65
Rail
Burnley Central Rail Station,
Burnley Manchester Road Rail Station
Air
Manchester Airport
Situation
The property is prominently situated on the south side of the pedestrianised St James's Street, in the heart of the town centre, between Parker Lane and Manchester Road, opposite an entrance to Charter Walk Shopping Centre. Shopping Centre occupiers include Boots, Costa, Greggs, Iceland, Halifax, Primark and Wilko.
Tenure
Freehold.
Location
Miles
21 miles east of Preston, 24 miles north of Manchester, 30 miles west of Leeds
Roads
M6, M61, M65
Rail
Burnley Central Rail Station,
Burnley Manchester Road Rail Station
Air
Manchester Airport
Situation
The property is prominently situated on the south side of the pedestrianised St James's Street, in the heart of the town centre, between Parker Lane and Manchester Road, opposite an entrance to Charter Walk Shopping Centre. Shopping Centre occupiers include Boots, Costa, Greggs, Iceland, Halifax, Primark and Wilko.
Tenure
Freehold.
Description
The property comprises a shop arranged on the basement, ground and mezzanine/first floors. The mezzanine first floor has been sublet.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C. See legal pack.
Description
The property comprises a shop arranged on the basement, ground and mezzanine/first floors. The mezzanine first floor has been sublet.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground First/Mezzanine Basement (hatch access)
Retail Retail (Sublet) -
115.29 sq m 136.84 sq m -
(1,241 sq ft) (1,473 sq ft) -
CORAL RACING LIMITED (1)
16 years from 28/02/2011 until 27/02/2027 on a full repairing and insuring lease
£29,762
Total
252.13 sq m
(2,714 sq ft)
£29,762
(1) For the year ending 31st December 2019, Coral Racing Limited reported a turnover of £136,836,000, a pre-tax profit of £33,805,000 and shareholder funds of £178,071,000 (source: NorthRow 26/08/2021). The tenant is currently not in occupation and the first floor has been sublet to a tattoo artist t/a Skin Factory.
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.