Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund
Property Information
Location
Miles
14 miles north of Manchester, 35 miles south-west of Leeds, 70 miles north-west of Sheffield
Roads
A627, M66, M60, M62 (Junction 20)
Rail
Rochdale Railway Station
Air
Manchester Airport
Situation
The property is prominently situated on the east side of Yorkshire Street, Rochdale’s prime pedestrianised retail thoroughfare. The property benefits from being situated opposite the entrance to Rochdale Exchange Shopping Centre with occupiers including W H Smith and Boots the Chemist. Other nearby occupiers include Marks & Spencer, Thorntons, JD Sports and Greggs.
Tenure
Freehold.
Location
Miles
14 miles north of Manchester, 35 miles south-west of Leeds, 70 miles north-west of Sheffield
Roads
A627, M66, M60, M62 (Junction 20)
Rail
Rochdale Railway Station
Air
Manchester Airport
Situation
The property is prominently situated on the east side of Yorkshire Street, Rochdale’s prime pedestrianised retail thoroughfare. The property benefits from being situated opposite the entrance to Rochdale Exchange Shopping Centre with occupiers including W H Smith and Boots the Chemist. Other nearby occupiers include Marks & Spencer, Thorntons, JD Sports and Greggs.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation on first and second floors.
6 Weeks Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with ancillary accommodation on first and second floors.
6 Weeks Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
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
Review
Ground First Second
Retail Ancillary Ancillary
106.20 sq m 84.11 sq m 37.60 sq m
(1,143 sq ft) (905 sq ft) (404 sq ft)
CORAL RACING LIMITED (1)
10 years from 27/11/2014 on a full repairing and insuring lease (2)
£32,500 (3)
27/11/2019
Totals
227.91 sq m
(2,452 sq ft)
£32,500 (3)
(1) For the year ending 28/09/2013, Coral Racing Limited reported a turnover of £628,179,000, pre-tax profits of £81,627,000 and a total net worth of £93,510,000. (Source: www.riskdisk.com 02/02/2015) (2)The lease provides a tenant only option to determine on the sixth anniversary of the term commencement date. (3)For the purposes of clarification, Coral Racing Limited is currently benefitting from a rent free period due to expire on 27th May 2015. The seller has agreed to adjust the completion monies so that the unit will effectively produce £32,500 p.a.x. from completion of the sale.
