2 Buttermarket Street Warrington Cheshire WA1 2LL

2 Buttermarket Street
Warrington
Cheshire
WA1 2LL

Virtual Freehold Retail Investment

Prominent Shop in the Heart of Town Centre
Let on a New 10 year lease until 2030 (NO BREAKS)
Rent Reviewed Every 3 Years to the Higher of Open Market Rental Value or Inline with RPI
Situated on route from the Major Golden Square Shopping Centre and the new Time Square Office and Leisure scheme
Neighbouring Occupiers Include Starbucks, McDonalds, Burger King, Barclays Banks and Cineworld Multiplex Cinema.

Lot
32
Auction
17th February 2022
Rent
£30,000 per Annum Exclusive
Status
Sold
Price
£250,000
Auction Venue
Live Streamed Auction

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Virtual Freehold Retail Investment

Prominent Shop in the Heart of Town Centre
Let on a New 10 year lease until 2030 (NO BREAKS)
Rent Reviewed Every 3 Years to the Higher of Open Market Rental Value or Inline with RPI
Situated on route from the Major Golden Square Shopping Centre and the new Time Square Office and Leisure scheme
Neighbouring Occupiers Include Starbucks, McDonalds, Burger King, Barclays Banks and Cineworld Multiplex Cinema.

Lot 32
Auction 17th February 2022
Rent £30,000 per Annum Exclusive
Status Sold
Price £250,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 17 miles south-west of Manchester, 18 miles east of Liverpool
Roads: A49, A50, A57, M6, M62
Rail: Warrington Central Train Station
Air: Liverpool John Lennon Airport, Manchester Airport

Situation

The property is situated in the heart of Warrington town centre on south side ofthe pedestrianised Buttermarket Street fronting the Fountain of Warrington and on route from the Major Golden Square Shopping Centre and the new Time Square Office and Leisure scheme. Neighbouring occupiers include TSB Bank, Barclays Bank, Starbucks, McDonalds, Burger King and Cineworld Multiplex Cinema.

Tenure

Virtual Freehold. 999 years from completion at a fixed peppercorn rent.

Location

Miles: 17 miles south-west of Manchester, 18 miles east of Liverpool
Roads: A49, A50, A57, M6, M62
Rail: Warrington Central Train Station
Air: Liverpool John Lennon Airport, Manchester Airport

Situation

Tenure

Virtual Freehold. 999 years from completion at a fixed peppercorn rent.

Description

The property comprises ground floor retail accommodation and lower ground floor ancillary accommodation.

VAT

VAT is not 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

The property comprises ground floor retail accommodation and lower ground floor ancillary accommodation.

VAT

VAT is not 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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	ReviewS/(Reversion)
Ground Lower Ground	Retail Ancillary	34.20 sq m 45.60 sq m	(368 sq ft) (490 sq ft)	THE V8PE SH8P LIMITED with a personal guarantee	10 years from 15/07/2020 until 2030 on a Full repairing and Insuring Lease	£30,000 (1)	14/07/2023 and every 3 years (2) (14/07/2030)
Total Approximate Floor Area		79.80 sq m	(858 sq ft)			£30,000 (1)

(1) The current rent reserved under the terms of the lease is £30,000 per annum exclusive. The tenant is currently benefiting from a rent concession to £28,500 pax until 14/07/2022. The Seller will pay the Buyer the difference between the current rent reserved of £30,000 p.a.x. and £28,500 from completion of the sale until 14/07/2022. Therefore the property will produce a total of £30,000 p.a.x. from the completion of the sale. The property was formerly occupied as a sweet shop for 10 years. The rent was reviewed in 2015 to £26,500 p.a.x.
(2) The lease provides for the rent to be reviewed to the higher of open market rental value or inline with RPI.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.