Unit 1 & 2, 402 - 410 Gidlow Lane Wigan Greater Manchester WN6 7PL

Unit 1 & 2, 402 - 410 Gidlow Lane
Wigan
Greater Manchester
WN6 7PL

Freehold Convenience Store and Retail Investment

Let to Tesco Stores Limited (with 2020 rental increase to min. £72,442.97 p.a (3)) and Barnardo's
Prominent roadside position in a densely populated residential area
1.3 miles north west of Wigan Town Centre
On site parking for approximately 17 cars
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
32
Auction
16th February 2017
Rent
£85,927 per Annum Exclusive
Status
Sold
Price
£1,160,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

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Freehold Convenience Store and Retail Investment

Let to Tesco Stores Limited (with 2020 rental increase to min. £72,442.97 p.a (3)) and Barnardo's
Prominent roadside position in a densely populated residential area
1.3 miles north west of Wigan Town Centre
On site parking for approximately 17 cars
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 32
Auction 16th February 2017
Rent £85,927 per Annum Exclusive
Status Sold
Price £1,160,000
Sector
Supermarket/Convenience
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

Property Information

Location

Miles: 18 miles north-west of Manchester, 20 miles north-east of Liverpool
Roads: A49, A577, M58 (Junction 26)
Rail: Wigan Wallgate, Wigan North Western
Air: Liverpool John Lennon Airport, Manchester International Airport

Situation

The property is located in the popular suburb of Pemberton, some 1.3 miles north-west of Wigan Town Centre. The property is prominently situated on Gidlow Lane close to its junction with Spencer Road which provides direct access to the A49. The surrounding area is predominantly residential with a small parade comprising other local amenities.

Tenure

Freehold.

Location

Miles: 18 miles north-west of Manchester, 20 miles north-east of Liverpool
Roads: A49, A577, M58 (Junction 26)
Rail: Wigan Wallgate, Wigan North Western
Air: Liverpool John Lennon Airport, Manchester International Airport

Situation

Tenure

Freehold.

Description

The property comprises two ground floor retail units with on site parking for approximately 17 cars. Unit 1 benefits from an on-site ATM.

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 two ground floor retail units with on site parking for approximately 17 cars. Unit 1 benefits from an on-site ATM.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/(Reversion)
Unit 1	Ground	Convenience Store	351.17 sq m	(3,780 sq ft)	TESCO STORES LIMITED (1)	15 years from 04/11/2010	£68,927	04/11/2020 Minimum Increase (3) (03/11/2025)
Unit 2	Ground	Retail	77.48 sq m	(834 sq ft)	BARNARDO’S (2)	10 years from 04/01/2011	£17,000	04/01/2016 (03/01/2021)
Total			428.65 sq m	(4,614 sq ft)			£85,927

(1) Tesco is one of the largest supermarket chains in the UK, with over 3,500 stores and over 310,000 employees. (Source: www.tescoplc.com 18/01/2017)
(2) Barnardo’s is the UK’s leading children’s charity helping more than 240,000 children, young people and their families every year. Barnardo’s has over 700 charity shops across the UK. (Source: www.barnardos.org.uk 18/01/2017)
(3) As to the lease to Tesco Stores Limited, the 2020 rent review provides a minimum rental increase in line with RPI or to £72,442.97 p.a., whichever is greater. Please refer to the legal documentation for further information.