2 Buttermarket Street Warrington Cheshire WA1 2LL

2 Buttermarket Street
Warrington
Cheshire
WA1 2LL

Virtual Freehold Retail Investment

  • Prominent Shop in the Heart of Town Centre
  • Let on a New 10 year lease until 2030 (NO BREAKS)
  • Rent Reviewed Every 3 Years to the Higher of Open Market Rental Value or Inline with RPI
  • Situated on route from the Major Golden Square Shopping Centre and the new Time Square Office and Leisure scheme
  • Neighbouring Occupiers Include Starbucks, McDonalds, Burger King, Barclays Banks and Cineworld Multiplex Cinema.
  • Lot
    32
  • Auction
    17th February 2022
  • Rent
    £30,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £250,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

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

Virtual Freehold Retail Investment

  • Prominent Shop in the Heart of Town Centre
  • Let on a New 10 year lease until 2030 (NO BREAKS)
  • Rent Reviewed Every 3 Years to the Higher of Open Market Rental Value or Inline with RPI
  • Situated on route from the Major Golden Square Shopping Centre and the new Time Square Office and Leisure scheme
  • Neighbouring Occupiers Include Starbucks, McDonalds, Burger King, Barclays Banks and Cineworld Multiplex Cinema.
  • Lot 32
  • Auction 17th February 2022
  • Rent
  • Status Sold
  • Price £250,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
17 miles south-west of Manchester, 18 miles east of Liverpool
Roads
A49, A50, A57, M6, M62
Rail
Warrington Central Train Station
Air
Liverpool John Lennon Airport, Manchester Airport
Situation

The property is situated in the heart of Warrington town centre on south side ofthe pedestrianised Buttermarket Street fronting the Fountain of Warrington and on route from the Major Golden Square Shopping Centre and the new Time Square Office and Leisure scheme. Neighbouring occupiers include TSB Bank, Barclays Bank, Starbucks, McDonalds, Burger King and Cineworld Multiplex Cinema.

Tenure

Virtual Freehold. 999 years from completion at a fixed peppercorn rent.

Location
Miles
17 miles south-west of Manchester, 18 miles east of Liverpool
Roads
A49, A50, A57, M6, M62
Rail
Warrington Central Train Station
Air
Liverpool John Lennon Airport, Manchester Airport
Situation

The property is situated in the heart of Warrington town centre on south side ofthe pedestrianised Buttermarket Street fronting the Fountain of Warrington and on route from the Major Golden Square Shopping Centre and the new Time Square Office and Leisure scheme. Neighbouring occupiers include TSB Bank, Barclays Bank, Starbucks, McDonalds, Burger King and Cineworld Multiplex Cinema.

Tenure

Virtual Freehold. 999 years from completion at a fixed peppercorn rent.

Description

The property comprises ground floor retail accommodation and lower ground floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises ground floor retail accommodation and lower ground floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. ReviewS/(Reversion)
Ground
Lower Ground
Retail
Ancillary
34.20 sq m
45.60 sq m
(368 sq ft)
(490 sq ft)
THE V8PE SH8P LIMITED
with a personal guarantee
10 years from 15/07/2020
until 2030 on a
Full repairing and
Insuring Lease
£30,000 (1)
14/07/2023
and every 3 years (2)
(14/07/2030)
Total Approximate Floor Area  
79.80 sq m
(858 sq ft)
   
£30,000 (1)
 

(1) The current rent reserved under the terms of the lease is £30,000 per annum exclusive. The tenant is currently benefiting from a rent concession to £28,500 pax until 14/07/2022. The Seller will pay the Buyer the difference between the current rent reserved of £30,000 p.a.x. and £28,500 from completion of the sale until 14/07/2022. Therefore the property will produce a total of £30,000 p.a.x. from the completion of the sale. The property was formerly occupied as a sweet shop for 10 years. The rent was reviewed in 2015 to £26,500 p.a.x.
(2) The lease provides for the rent to be reviewed to the higher of open market rental value or inline with RPI.

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

  • Brochure
    Updated Date
    02.02.22
    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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
Dwyers Solicitors 176 Stamford Street Central
Ashton-under-Lyne
OL6 7LR
Michael Rose 0161 308 3928Michaelrose@dwyers.net

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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