Comprises a terrace of 13 shops (10 let & 3 vacant) as an unbroken parade
Tenants include Ladbrokes Betting & Gaming Limited, RSPCA, Well Pharmacy and Age UK
Approximately 9,086 sq. ft. (844.11 sq. m.)
Asset management opportunities with imminent potential lease renewals
Nearby occupiers include Aldi, Tesco Express, Greggs, Boots the Chemist and Iceland
VAT-free investment
Lot 17
Auction 3rd November 2022
Rent Gross: £104,650 per Annum Exclusive Net: £104,649
Status Sold Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles north-east of Manchester, 30 miles south-west of Leeds
Roads
A627, M62
Air
Manchester Airport
Situation
Shaw is situated some 10 miles north-east of Manchester City Centre and benefits from excellent links via the M62 Motorway. The property is situated on the west side of Market Street, the principle retailing pitch in Shaw. Nearby occupiers include Aldi, Tesco Express, Greggs, Boots the Chemist and Iceland.
Tenure
Leasehold. Held from Oldham Borough Council for a term of 125 years from 29/09/1977 at a ground rent of £1 per annum. Full details are available within the lease in the legal pack.
Location
Miles
10 miles north-east of Manchester, 30 miles south-west of Leeds
Roads
A627, M62
Air
Manchester Airport
Situation
Shaw is situated some 10 miles north-east of Manchester City Centre and benefits from excellent links via the M62 Motorway. The property is situated on the west side of Market Street, the principle retailing pitch in Shaw. Nearby occupiers include Aldi, Tesco Express, Greggs, Boots the Chemist and Iceland.
Tenure
Leasehold. Held from Oldham Borough Council for a term of 125 years from 29/09/1977 at a ground rent of £1 per annum. Full details are available within the lease in the legal pack.
Description
The property comprises an unbroken parade of 13 ground floor shops.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an unbroken parade of 13 ground floor shops.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas (Approx sq ft) (1)
Tenant
Term
Rent p.a.x
Rent Review
Unit 1 (6 High St)
Ground
Retail
65.60
(706)
AN INDIVIDUAL (t/a Z Cars)
5 years from 03/04/2017 (holding over) (2)
£10,500
-
Unit 2 (4 High St)
Ground
Retail
64.00
(689)
BESTWAY NATIONAL CHEMISTS LIMITED (3) (t/a Well Pharmacy)
RSPCA BURY (LANCS) DISTRICT BRANCH (7) (t/a RSPCA)
6 years from 10/02/2015 (holding over)
£10,000
-
Unit 6 (82 Market St)
Ground
Retail
56.00
(603)
AN INDIVIDUAL (t/a Café)
5 years from 04/10/2022 (8)
£9,500
04/10/2025
Unit 7 (80 Market St)
Ground
Retail
56.60
(609)
AN INDIVIDUAL (t/a Istanbul Barber)
5 years from 13/09/2017 (9)
£7,000
-
Unit 8 (78 Market St)
Ground
Retail
56.60
(609)
AN INDIVIDUAL (t/a Eats and Meats)
3 years from 01/09/2017 (holding over) (10)
£7,500
-
Unit 9 (76 Market St)
Ground
Retail
56.60
(609)
AGE UK OLDHAM LIMITED (11) (t/a Age UK)
3 years from 03/09/2013 (holding over) (12)
£7,500
-
Unit 10 (74 Market St)
Ground
Retail
56.60
(609)
CHURCH OF ENGLAND CHILDREN'S SOCIETY (13) (t/a The Children's Society)
10 years from 25/04/2017
£10,150
24/04/2022 (14)
Unit 11 (72 Market St)
Ground
Retail
56.60
(609)
AN INDIVIDUAL (t/a Sole 2 Sole)
5 years from 18/07/2017 (holding over)
£7,000
-
Unit 12 & 13 (70 & 68 Market St)
Ground
Retail
110.80
(1,193)
VACANT
- (15)
-
-
Total
844.20
(9,086)
£104,650
(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk) (2) Extension terms are currently under discussion. See legal pack for further information. (3) Well pharmacy are the third largest pharmacy chain in the UK with 760 pharmacies (www.well.co.uk/about-us) (4) Rent review on 04/09/2022 under discussion, position is currently reserved. See legal pack for further information. (5) Ladbrokes employs 15,000 people in six countries and is one of the world's leading betting and gaming enterprises. Ladbrokes is a market leader in retail bookmaking in the UK, Ireland, Belgium and Spain where it operates a combined total of more than 2,700 betting shops (www.sports.ladbrokes.com) (6) New 5 year reversionary lease completed 21/09/2022 at £19,500 pax with 9 months rent free. The seller will top up the rent on completion. See legal pack for further information. (7) The RSPCA are the world's oldest and largest animal welfare charity, with the primary focus of rescuing, rehabilitating and rehoming or releasing animals across England and Wales. (www.rspca.org.uk) (8) The seller also holds a deposit of 3 months' rent from the tenant. See legal pack for further information. (9) Terms have been agreed for a 5 year lease extension at a rent of £7,300 per annum exclusive. See legal pack for further information. (10) The tenant has confirmed he wishes to extend the lease. See legal pack for further information. (11 ) Age UK is the country's leading charity dedicated to helping everyone make the most of later life. (www.ageuk.org.uk) (12) Terms agreed for new lease for 5 years from completion at a rent of £8,000 pa. The seller also holds a deposit of £584 from the tenant. The lease is also subject to a schedule of condition. See legal pack for further information. (13) The Children's Society are a national charity working to transform the hopes and happiness of young people facing abuse, exploitation and neglect. (www.childrenssociety.org.uk) (14) Rent review on 24/04/2022 under discussion, position is currently reserved. See legal pack for further information. (15) Terms agreed for 5 year lease with a rent starting at £16,000 pax rising to £18,000 pax. See legal pack for further information.
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.
