479 Bolton Road & 1-3 Labtec Street Pendlebury, Nr Swinton Manchester M27 8SE

479 Bolton Road & 1-3 Labtec Street
Pendlebury, Nr Swinton
Manchester
M27 8SE

Freehold Roadside Investment with Annual Uncapped RPI Rent Reviews

Let to Halfords Autocentres Limited
Lease expires August 2036 (No breaks) (1)
Annual UNCAPPED RPI-linked rent reviews
Tenant in occupation since 2003
Nearby occupiers include Amazon, Screwfix, Toolstation and Howdens.

Lot
26
Auction
22nd September 2022
Rent
£44,260 per Annum Exclusive
(3) rising annually
Status
Sold
Price
£685,000
Auction Venue
Live Streamed Auction

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Freehold Roadside Investment with Annual Uncapped RPI Rent Reviews

Let to Halfords Autocentres Limited
Lease expires August 2036 (No breaks) (1)
Annual UNCAPPED RPI-linked rent reviews
Tenant in occupation since 2003
Nearby occupiers include Amazon, Screwfix, Toolstation and Howdens.

Lot 26
Auction 22nd September 2022
Rent £44,260 per Annum Exclusive (3) rising annually
Status Sold
Price £685,000
Sector
Industrial, Warehouse
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 5 miles north west of Manchester City Centre, 8 miles south east of Bolton
Roads: A580, A6, M60, M61
Rail: Moorside and Swinton Railway Stations
Air: Manchester Airport

Situation

The property is located in Pendlebury, which is situated immediately south of the junction of M60, M61 and M62, some 5 miles north-west of Manchester City Centre. The property is prominently located on the corner of Bolton Road and Labtec Street just off the A580, 3 miles east of junction 14 of the A6.

The immediate locality serves as a well established commercial hub with a large number of warehouse/industrial units with nearby occupiers including Amazon, Screwfix, Toolstation and Howdens.

Tenure

Freehold.

Location

Miles: 5 miles north west of Manchester City Centre, 8 miles south east of Bolton
Roads: A580, A6, M60, M61
Rail: Moorside and Swinton Railway Stations
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises a single-storey roadside car servicing centre that benefits from parking for approximately 6 cars to the front of the building.

VAT

VAT is applicable to this lot.

Completion Period

31st October Completion

EPC

Band E

Description

The property comprises a single-storey roadside car servicing centre that benefits from parking for approximately 6 cars to the front of the building.

VAT

VAT is applicable to this lot.

Completion Period

31st October Completion

EPC

Band E

Tenancy & Accommodation

Floor	Use	Gross Internal Floor Areas Approx sq m	Gross Internal Floor Areas (Approx sq ft)	Tenant	Term	Rent p.a.x.	Annual Rent Reviews
Ground	Workshop/Office	251.02	(2,702)	HALFORDS AUTOCENTRES LIMITED (2)	40 years (less 1 day) from 19/08/1996 on a full repairing and insuring lease (1)	£44,260.08 (3)	29/09/2022 and annually thereafter (3)
Total		251.02	(2,702)			£44,260.08 (3)

(1) The property is let by way of a 35 year lease (less 1 day), from 19/08/1996, expiring on 17/08/2031. The lease is subject to a landlord option to renew to be exercised at any time for a term of 5 years and 1 day from 18/08/2031. The lease is also subject to a tenant option to renew for a term of 5 years and 1 day to be exercised at any time on or after 18/08/2030 - please see lease. The property has been sublet to Formula One Autocentre Limited by way of a sublease on identical terms to the Halfords lease, with the same RPI reviews and 5-year extension options.
(2) Halfords Autocentres Limited is one of the UK’s leading MOT, car servicing, repairs and tyre specialists. The company services hundreds of thousands of vehicles every year across a network of over 600 Autocentres nationwide (www.blog.halfords.com 30/08/2022)
(3) The lease is subject to uncapped, annual RPI-linked rent reviews on 29th September each year. The lease allows for an increase in the passsing rent to the higher of 2% and the 12-month RPI % for the month of July. The current rent passing under the terms of the lease is £39,398.32 p.a. from September 2021, but this will rise to £44,260.08 p.a. from 29/09/2022 (July RPI figure 12.34%) - please see lease

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.