Let to Harvey & Thompson Ltd on a new 20 year lease (no breaks)
Minimum fixed rental uplift in 2017
Nearby occupiers include Greggs, Ryman, Ann Summers, Shoe Zone and SpecsaversSix Week Completion Period Available
Lot 10
Auction 23rd February 2012
Rent £46,500 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
12 miles north-west of Manchester city centre
Roads
A666, A579, M60, M61, M57
Rail
Bolton Rail
Air
Manchester Airport, Leeds Bradford International Airport
Situation
The property is situated in a prime position on the busy pedestrianised retail thoroughfare of Newport Street, close to the junction with Great Moor Street and Crompton Place Shopping Centre. Nearby occupiers include Greggs, Ryman, Ann Summers, Shoe Zone and Specsavers.
Tenure
Freehold.
Location
Miles
12 miles north-west of Manchester city centre
Roads
A666, A579, M60, M61, M57
Rail
Bolton Rail
Air
Manchester Airport, Leeds Bradford International Airport
Situation
The property is situated in a prime position on the busy pedestrianised retail thoroughfare of Newport Street, close to the junction with Great Moor Street and Crompton Place Shopping Centre. Nearby occupiers include Greggs, Ryman, Ann Summers, Shoe Zone and Specsavers.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation in the basement, first and second floors.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with ancillary accommodation in the basement, first and second floors.
VAT
VAT is applicable to this lot.
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
Ground Basement First Second
Net Frontage Shop Depth Retail Ancillary Ancillary Ancillary
5.79 m 19.96 m 98.01 sq m 46.91 sq m 91.51 sq m 89.18 sq m
20 years from completion until 2032 on a full repairing and insuring lease
£46,500 Rising to a minimum of £50,500 in 2017
2017, 2022 and 2027 (2)
Totals
325.61 sq m
(3,505 sq ft)
£46,500
(1) For the year ending 31st December 2010, Harvey & Thompson Limited reported a turnover of £126,420,000, pre-tax profits of £28,422,000 and a total net worth of £47,256,000. (Source: www.riskdisk.com 24/10/2011)
(2) The lease provides for the rent to be increased to the greater of £50,500 per annum exclusive or the open market rental value in 2017. Further rent reviews will be to open market rental value.
