22 / 24 Henshaw Street & 37 Albion Street Oldham Greater Manchester OL1 3AA

22 / 24 Henshaw Street & 37 Albion Street
Oldham
Greater Manchester
OL1 3AA

Virtual Freehold Retail Investment

Prominent Town Centre location between Market Hall and the Spindles Shopping Centre
Tenants include Coral Racing Limited and Game Retail Limited
Neighbouring occupiers Primark, Sports Direct, McDonald's and Specsavers.
Producing £65,000 p.a.x. (Gross)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
53
Auction
25th May 2017
Rent
£65,000 per Annum Exclusive
Status
Sold
Price
£530,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Virtual Freehold Retail Investment

Prominent Town Centre location between Market Hall and the Spindles Shopping Centre
Tenants include Coral Racing Limited and Game Retail Limited
Neighbouring occupiers Primark, Sports Direct, McDonald's and Specsavers.
Producing £65,000 p.a.x. (Gross)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 53
Auction 25th May 2017
Rent £65,000 per Annum Exclusive
Status Sold
Price £530,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 7 miles north east of Manchester, 28 miles south west of Leeds.
Roads: M60, A627(M) M62
Air: Manchester Airport

Situation

The property is situated in a prominent corner location on the south side of pedestrianised Albion Street, at its junction with Henshaw Street and directly opposite the popular Tommyfield Market Hall within the heart of the Town Centre. The property benefits from being situated on the main pedestrian route between the Tommyfield Market Hall and the major Spindles Shopping Centre which houses occupiers including Debenhams, Next, Topman, H&M, Boots the Chemist and Pandora. Other neighbouring occupiers include Primark, Sports Direct, McDonald's and Specsavers.

Tenure

Virtual Freehold. Held for a term of 999 years from 1st August 1895 until 2894 at a current rent reserved of £80 per annum.

Location

Miles: 7 miles north east of Manchester, 28 miles south west of Leeds.
Roads: M60, A627(M) M62
Air: Manchester Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from 1st August 1895 until 2894 at a current rent reserved of £80 per annum.

Description

The property, a modern and substantial retail building comprises self-contained retail accommodation on the ground floor, a self contained Betting Office in the basement and self contained retail accommodation on the first floor. The property benefits from frontages onto both the pedestrianised Henshaw Street and Albion Street.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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	Reversion
20/24 Henshaw Street	Basement	Betting Office	193.52 sq m	(2,083 sq ft)	CORAL RACING LIMITED (1)	10 years from 17/04/2010	£16,000	16/04/2020
20/24 Henshaw Street	Ground	Retail	156.17 sq m	(1,681 sq ft)	GAME RETAIL LIMITED (2)	5 years from 14/01/2015 (3)	£40,000	25/06/2020
37 Albion Street	Ground First	Retail Retail	8.83 sq m 169.18 sq m	(95 sq ft) (1,821 sq ft	INDIVIDUAL t/a NJ Mobiles	3 years from 19/04/2016 (4)	£9,000	18/04/2019
Total			527.70 sq m	(5,680 sq ft)			£65,000

(1) For the year ending 26th September 2015, Coral Racing Limited reported a turnover of £667,786,000, pre-tax profits of £81,106,000 and a total net worth of £264,149,000. (Source Experian Group 27/04/2017)
(2) For the year ending 30th July 2016, Game Retail Limited reported a turnover of £583,890,000, pre-tax profits of £6,868,000 and a total net worth of £72,104,000 (Source Experian Group 27/04/2017)
(3) As to the lease to Game Retail Limited, the lease provides for a tenant option to determine the lease on 31/05/2018.
(4) As to the lease of 37 Albion Street, the lease is outside the security of tenure provisions of the Landlord and Tenant Act 1954.