Let to April Wing Limited trading as Pure Fashions for a term of 10 years until 2029 (Subject to Option with 12 months notice)
2024 rent review to the higher of Open Market Rental Value or inline with Retail Price Index (4)
Occupied as "Pure Fashion" only Distribution Hub
Approximately 3293 sqm (35,438 s qft)
Approximate Site Area of 1.1 Acres (0.4 Hectares)
Approximate Site Coverage of 42%
Well Established Industrial Estate Close to the M60 and M61
Nearby occupiers include McDonalds, ASDA supermarket and Morrisons
Lot 13
Auction 22nd September 2022
Rent £150,000 per Annum Exclusive Rising to a minimum of £180,631 per annum exclusive in 2024 (4)
Status Sold Post
Price
Sector Industrial, Warehouse
Auction Venue Live Streamed Auction
Property Information
Location
Miles
5 miles north west of Manchester City Centre, 8 miles south east of Bolton
Roads
M60, M61, A580, A6
Rail
Moorside Railway Station, Swinton Railway Station
Air
Manchester Airport
Situation
Swinton is strategically situated immediately south of the junction of M60, M61 and M62 some 5 miles north west of Manchester city centre. The property is situated on a well established industrial estate on the south side of Bolton Road (A666) which connects directly to the M60 less than a mile to the North. The property is immediately surrounded by local occupiers creating an industrial hub. Other nearby occupiers include Mcdonalds, ASDA Supermarket and Morrisons.
Tenure
Freehold.
Location
Miles
5 miles north west of Manchester City Centre, 8 miles south east of Bolton
Roads
M60, M61, A580, A6
Rail
Moorside Railway Station, Swinton Railway Station
Air
Manchester Airport
Situation
Swinton is strategically situated immediately south of the junction of M60, M61 and M62 some 5 miles north west of Manchester city centre. The property is situated on a well established industrial estate on the south side of Bolton Road (A666) which connects directly to the M60 less than a mile to the North. The property is immediately surrounded by local occupiers creating an industrial hub. Other nearby occupiers include Mcdonalds, ASDA Supermarket and Morrisons.
Tenure
Freehold.
Description
This Property comprises a steel portal frame industrial building with ground floor industrial accommodation and first floor industrial and office accommodation and benefits from Air Conditioning throughout and a large 2000kg capacity Goods lift and a passenger lift. The property also benefits from a site area of approximately 1.1 Hectares with a site coverage of 42%. There are approximately 73 Car park spaces on the site.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
Band E.
Description
This Property comprises a steel portal frame industrial building with ground floor industrial accommodation and first floor industrial and office accommodation and benefits from Air Conditioning throughout and a large 2000kg capacity Goods lift and a passenger lift. The property also benefits from a site area of approximately 1.1 Hectares with a site coverage of 42%. There are approximately 73 Car park spaces on the site.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
Band E.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground First
Industrial Industrial
1,646.16 1,646.16
17,719 17,719
April Wing Limited (CRN 05328072) T/A Pure Fashions (1)
Term of 10 years from 18/04/19 until 17/04/2029 (3)
£150,000 Rising to a minimum of £180,631 in April 2024 (4)
18/04/2024 Reviewed to the greater of open market Rental Value or inline with RPI (4)
Total Approximate Floor Area
3,292.32 (2)
35,438
£150,000
(1) April Wing Limited (CRN 05328072) were incorporated in January 2005 and trades under the name "Pure Fashions" as a long established fashion accessories business that operate from locations in London and Manchester. This property is the company's main distribution hub (www.purefashions.net) (2) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk) (3) The lease provides for a tenant option to determine the Lease on 18/04/2024 upon the tenant serving 12 months notice in writing. (4) The lease provides for the rent to be reviewed on the 18th April 2024 to the greater of the Open Market Rental Value current rent reserved or an increased in line with the Retail Price Index (RPI). See clause 6 of the lease for details. Using the current RPI Index for July 2022 of 343.2 and provided that the Index does not decrease the rent will increase to a minimum of £180,631 per annum exclusive on 18th April 2024.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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