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Prime Freehold Retail Investment
Prime Freehold Retail Investment
The property is prominently positioned in a prime location on the east side of Penny Street, opposite Marks & Spencer. Other nearby occupiers include Tesco Express, Boots the Chemist, Greggs, Holland & Barrett, Primark, Nando's and Caffè Nero.
Freehold.
The property is prominently positioned in a prime location on the east side of Penny Street, opposite Marks & Spencer. Other nearby occupiers include Tesco Express, Boots the Chemist, Greggs, Holland & Barrett, Primark, Nando's and Caffè Nero.
Freehold.
The property comprises a shop arranged on ground, mezzanine, first and second floors.
VAT is applicable to this lot.
Six Week Completion
Band E
The property comprises a shop arranged on ground, mezzanine, first and second floors.
VAT is applicable to this lot.
Six Week Completion
Band E
| Floor | Use | Floor Areas Approx sq m |
Floor Areas Approx sq ft |
Tenant | Term | Rent p.a.x. |
|---|---|---|---|---|---|---|
| Ground Mezzanine First Second |
Retail/Ancillary Ancillary Ancillary Ancillary |
69.60 15.30 29.00 24.50 |
(750) (165) (312) (264) |
T. NGUYET NGA HO | 5 years from 19/10/2023 on a full repairing and insuring lease | £23,500 |
| Total | 138.40 |
(1,491) |
£23,500 (1) |
(1) The tenant is benefitting from a concessionary rent of £15,666.68 p.a.x from 19/10/2023 until 19/02/2024 (4 months rent free spread over 12 months). The Seller will pay the Buyer the rent that would have been due in the absence of the concessionary rent period. Therefore the property will effectively produce £23,500 per annum exclusive from completion of the sale. A rent deposit of £11,750 is held by the Seller. The tenant also trades from two other shops in Bolton and Blackburn.
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.
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