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
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.
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.
