The Engine Room Wellington Road Ashton-under-Lyne Greater Manchester OL6 6DQ

  • The Engine Room<br>Wellington Road<br>Ashton-under-Lyne<br>Greater Manchester<br>OL6 6DQ

The Engine Room
Wellington Road
Ashton-under-Lyne
Greater Manchester
OL6 6DQ

Substantial Town Centre Public House Investment

  • Let to Midland Inns Ltd until 2030 (no breaks)
  • Approximately 7,783 sq ft - Rent £5.14 psf
  • December 2016 Rent Review Outstanding
  • Prominently situated opposite the new £76 million Tameside Council development project
  • Adjacent to the new £10 million Clarendon Sixth Form College Campus
  • Nearby occupiers include JD Wetherspoon, WH Smith, Argos, Superdrug, Next, Poundland, Costa and EE
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    32
  • Auction
    30th March 2017
  • Rent
    £40,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £458,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Substantial Town Centre Public House Investment

  • Let to Midland Inns Ltd until 2030 (no breaks)
  • Approximately 7,783 sq ft - Rent £5.14 psf
  • December 2016 Rent Review Outstanding
  • Prominently situated opposite the new £76 million Tameside Council development project
  • Adjacent to the new £10 million Clarendon Sixth Form College Campus
  • Nearby occupiers include JD Wetherspoon, WH Smith, Argos, Superdrug, Next, Poundland, Costa and EE
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 32
  • Auction 30th March 2017
  • Rent £40,000 per Annum Exclusive
  • Status Sold
  • Price £458,000
  • Sector
    Public House
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
6 miles east of Manchester City Centre
Roads
A6043, A6140, A635, A627, M60 (Junction 23)
Rail
Ashton-under-Lyne Railway Station (Approx 12 mins to Manchester Victoria Station)
Air
Manchester Airport
Situation

Ashton-under-Lyne is a busy market and industrial town located some 6 miles east of Manchester City Centre. The property is situated on Wellington Road, the town's principal leisure destination and is diagonally opposite a £76m regeneration project to create a landmark council/education building and major public transport interchange. The development will improve links between the Arcades Shopping Centre, Market Place and public transport interchange. The scheme is expected to boost the local economy by bringing 3,000 students and 300 staff into the town centre. Construction is underway and is due to complete in September 2017. Please refer to Tameside Planning Portal & planning Application Number 15/00559/R3D.

Tenure

Freehold. Share of Freehold and Virtual Freehold. Virtual Freehold held for a term of 999 years from 31st May 1983 at a fixed rent of £10 per annum. Please refer to the legal pack for further information.

Location
Miles
6 miles east of Manchester City Centre
Roads
A6043, A6140, A635, A627, M60 (Junction 23)
Rail
Ashton-under-Lyne Railway Station (Approx 12 mins to Manchester Victoria Station)
Air
Manchester Airport
Situation

Ashton-under-Lyne is a busy market and industrial town located some 6 miles east of Manchester City Centre. The property is situated on Wellington Road, the town's principal leisure destination and is diagonally opposite a £76m regeneration project to create a landmark council/education building and major public transport interchange. The development will improve links between the Arcades Shopping Centre, Market Place and public transport interchange. The scheme is expected to boost the local economy by bringing 3,000 students and 300 staff into the town centre. Construction is underway and is due to complete in September 2017. Please refer to Tameside Planning Portal & planning Application Number 15/00559/R3D.

Tenure

Freehold. Share of Freehold and Virtual Freehold. Virtual Freehold held for a term of 999 years from 31st May 1983 at a fixed rent of £10 per annum. Please refer to the legal pack for further information.

Description

The public house comprises part of a three storey building benefiting from a substantial frontage to Wellington Road. The ground floor trading area features an extensive serving bar, seating areas, customer WCs, catering kitchen and beer store. The first floor comprises ancillary and storage accommodation, while the second floor comprises a manager’s flat with three rooms, bathroom and kitchen. The property benefits from a secondary customer entrance from Camp Street opposite Clarendon Sixth Form College.

VAT

VAT is applicable to this lot.

EPC

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

Description

The public house comprises part of a three storey building benefiting from a substantial frontage to Wellington Road. The ground floor trading area features an extensive serving bar, seating areas, customer WCs, catering kitchen and beer store. The first floor comprises ancillary and storage accommodation, while the second floor comprises a manager’s flat with three rooms, bathroom and kitchen. The property benefits from a secondary customer entrance from Camp Street opposite Clarendon Sixth Form College.

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 Reviews
Ground
First
Second
 Public House/Ancillary
Ancillary/Storage
Residential
540.00 sq m
114.00 sq m
69.00 sq m
(5,813 sq ft)
(1,227 sq ft)
(743 sq ft)
 MIDLAND INNS
LTD WITH
PERSONAL
GUARANTEE
 25 years from
29/07/2005 until
28/07/2030 on a
full repairing and
insuring lease
 £40,000
 23/12/2016
& 5 yearly
thereafter
Total  
723.00 sq m
(7,783 sq ft)
     £40,000
  

N.B. The seller holds a £20,000 rent deposit.

Contacts

Associate Auctioneers
Fleurets Suite 8b, Josephs Well
Leeds
LS3 1AB
Simon Hall 0113 234 0304simon.hall@fleurets.com
Seller's Solicitors
Shepherd and Wedderburn LLP Condor House, 10 St. Paul's Churchyard
London
EC4M 8AL
Lauren McLeod 0207 429 4959lauren.mcleod@shepwedd.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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