29-31 Bradshawgate, Leigh, Lancashire, WN7 4NB

A prime town centre retail unit in Leigh

Guide price*

£320,000+

Plus fees

Unsold

Lot 97 Commercial Investment
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Auction details:

Thursday 26th October 2023 @ 09:00AM

A Prime Town Centre Retail Investment Let To Boots UK Ltd Current Rental Income £32,600 PA

Property Description

The property comprises a prime Town Centre retail unit let to Boots, with upper floor and rear service yard. We are advised that Boots have been in occupation since 1974. Whilst we have not undertaken a measured survey we have noted the floor areas provided by the VOA as ground floor 537.30sq. m (5,783 sq.ft.) and first floor 592sq.m (6,372 sq.ft). The property is considered suitable for a variety of alternative commercial uses or future redevelopment subject to the appropriate planning permission.

Location

The property occupies a prominent position situated on the northern side of the pedestrianised Bradshawgate, between it's junctions with Union Street and Silk Street.
Bradshawgate is the towns principal retail throughfare with a vibrant mix of independent traders and national operators including McDonalds, Subway, BetFred and Greggs.
Leigh is located approximately 12 miles west of Manchester City Centre, 8 miles south west of Bolton and 8 miles south east of Wigan.
There are excellent links to the national motorway network being some 5 miles west of junction 14 of the M60 motorway.

Energy Performance Rating

C

Tenure

The property is part freehold and part long leasehold for a term of 999 years from 12th May 1871 at a ground rent of £35 per annum. Please see legal pack for more information.

Tenancy Details

The property is let to Boots UK Ltd for a term of 5 years (FRI) with effect from 21/05/2021 at a rent of £32,600 per annum.
We have not had sight of the lease documentation however a copy of the lease will be available within the legal pack.

Tenant Profile

As of 01/06/2023 Boots UK Ltd had a score of 97- very low risk (Source: Creditsafe.)

Value Added Tax

We understand VAT is applicable on this transaction. For those who are VAT registered, the intention would be to treat as a TOGC.
Full details will be available within the legal pack.

Auctioneer's Note

Please note offers may be considered prior to the Auction Sale.

Viewings

Refer to the auctioneers. We will endeavor to arrange accompanied access, however this may not always be possible.
DISCLAIMER

Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

LIVE-STREAMED AUCTION

Please note that the Auction will be livestreamed via our website.  You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.

*DEFINITION OF GUIDE & RESERVE PRICE

All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

COSTS AT AUCTION

When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding.  They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,920 inc VAT (£1,600.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.  Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

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