336, Oldham Road Ashton Under Lyne Greater Manchester OL7 9AU

336, Oldham Road
Ashton Under Lyne
Greater Manchester
OL7 9AU

Freehold Retail Investment

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
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

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Freehold Retail Investment

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

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)