Let to Coral Racing Limited on a 16 year lease (no breaks) until 2027
Minimum rental increases to the greater of 2.5% per annum compounded or open market value
Popular Manchester suburb and commuter town
Six Week Completion
Lot 45
Auction 23rd May 2013
Rent £6,000 per Annum Exclusive
Status Sold
Price £84,000
Sector Leisure
Auction Venue The Dorchester Hotel Park Lane Entrance Mayfair London W1K 1QA
Property Information
Location
Miles
3 miles south of Oldham
7.5 miles north-east of Manchester
Roads
Oldham Road (A627), A635, M60 (Junctions 22/23)
Rail
Ashton-Under-Lyne Railway Station
Air
Manchester International Airport
Situation
Ashton-Under-Lyne is a market town and popular Manchester suburb with commuters. The property is situated on the east side of the busy Oldham Road (A627) in a mixed commercial and residential area. Neighbouring properties include a Peugeot main dealership, public house and various local retailers.
Tenure
Freehold.
Location
Miles
3 miles south of Oldham
7.5 miles north-east of Manchester
Roads
Oldham Road (A627), A635, M60 (Junctions 22/23)
Rail
Ashton-Under-Lyne Railway Station
Air
Manchester International Airport
Situation
Ashton-Under-Lyne is a market town and popular Manchester suburb with commuters. The property is situated on the east side of the busy Oldham Road (A627) in a mixed commercial and residential area. Neighbouring properties include a Peugeot main dealership, public house and various local retailers.
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor and ancillary accommodation on the first floor.
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 retail accommodation on the ground floor and ancillary accommodation on the first floor.
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
Floor
Use
Floor Areas (Approx) (3)
Tenant
Term
Rent p.a.x
Reviews
Ground First
Retail/Ancillary Ancillary
39.40 sq m 34.60 sq m
(424 sq ft) (372 sq ft)
CORAL RACING LIMITED (1)
16 years from 03/02/2011 until 2027 on a full repairing and insuring lease (2)
£6,000 rising to £6,873 p.a.x. in 2016
29/09/2016 29/09/2021
Totals
74.00 sq m
(796 sq ft)
£6,000
(1) Coral Racing Limited is part of the Gala Coral Group and together with their online presence, trade from over 1,700 outlets across the UK. Gala Coral is the third largest bookmaking business in the UK with a market share of approximately 20%. (Source www.coral.co.uk 19/04/2013) (2)The lease provides for the rent to be reviewed to the greater of open market rental value or an increase by 2.5% p.a. compounded. Therefore the rent will increase to a minimum of £6,873 per annum exclusive in 2016. (3)The floor areas stated above are from those published by the Valuation Office Agency. (www.voa.gov.uk)
