Newspaper House Churchgate Bolton Greater Manchester BL1 1HL

Newspaper House
Churchgate
Bolton
Greater Manchester
BL1 1HL

Freehold Town Centre Office Investment

Established office location within the town centre including car parking
Flexible open plan office accommodation totalling 2,334.15 sq m (25,130 sq ft)
Third floor let to Northwood & Wepa Limited
Currently Producing £30,000 p.a.x. with 18,866 sq ft to be let
Residential redevelopment potential (subject to consents)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
50
Auction
11th February 2016
Rent
£30,000 per Annum Exclusive
Status
Sold
Price
£902,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Town Centre Office Investment

Established office location within the town centre including car parking
Flexible open plan office accommodation totalling 2,334.15 sq m (25,130 sq ft)
Third floor let to Northwood & Wepa Limited
Currently Producing £30,000 p.a.x. with 18,866 sq ft to be let
Residential redevelopment potential (subject to consents)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 50
Auction 11th February 2016
Rent £30,000 per Annum Exclusive
Status Sold
Price £902,000
Sector
Office
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 12 miles north-west of Manchester, 13 miles south of Blackburn, 30 miles north-east of Liverpool
Roads: A666, A676, A58, M61 (Junction 5)
Rail: Bolton Railway Station
Air: Manchester International Airport

Situation

The property is prominently situated in the heart of Bolton town centre on the south side of Churchgate at is junction Paley Street and Silverwell Street ½ mile north of the town’s railway station. The property is a short distance from the pedestrianised retailing centre and Crompton Place Shopping Centre which houses occupiers including Primark, Boots the Chemist, New Look and BHS.

Tenure

Freehold.

Location

Miles: 12 miles north-west of Manchester, 13 miles south of Blackburn, 30 miles north-east of Liverpool
Roads: A666, A676, A58, M61 (Junction 5)
Rail: Bolton Railway Station
Air: Manchester International Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial four storey office building totalling approximately 2,331.28 sq m (25,130 sq ft) of well configured open plan office accommodation. The property benefits from a common reception, suspended ceilings, perimeter trunking, LG7 lighting, passenger lift and 7 on-site car parking spaces.

Six Week Completion

VAT

VAT is applicable to this lot.

EPC

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

Description

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	Reversion
Ground First Second	Office Office Office	574.50 sq m 590.01 sq m 590.01 sq m	(6,184 sq ft) (6,351 sq ft) (6,351 sq ft)	VACANT POSSESSION (1)
Third	Office & 2 Parking Spaces	580.07 sq m	(6,244 sq ft)	NORTHWOOD & WEPA LTD (2)	6 years from 13/11/2013	£30,000	12/11/2019
Totals		2,334.59 sq m	(25,130 sq ft)			£30,000

(1) A storage licence was in place until recently to Knight Frank LLP over ground, first and second floors. For further details please refer to the auctioneers and the legal pack.
(2) For the year ending 31st December 2014, Northwood & Wepa Limited reported a turnover of £49,718,000, pre-tax profits of £4,857,000 and a total net worth of £30,256,000. (Source: Experian Group 13/01/2016)
(3) The lease provides for a tenant option to determine on 13th November 2016 on no less than 6 months’ notice.