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Lot 43
11 Hammerton Street, Burnley, Lancashire BB11 1NA

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Sold: £64,000

(GROSS YIELD 17%)
6 Week completion

SITUATION

Located on the west side of Hammerton Street, just off the pedestrianised St James Street with nearby multiple retailers including Marks & Spencer, DW Sports, Skipton Building Society, Santander and Game.
Burnley is a busy market town lying just off the M65 (Junction 10) midway between Blackburn and Halifax, some 24 miles north of Manchester.

PROPERTY

Forming part of a mid-terraced building comprising a Ground Floor Betting Shop.

ACCOMMODATION

Ground Floor Betting Shop
Gross Frontage 23'2"
Internal Width 20'7"
Shop Depth 55'9"
Built Depth 101'4"
Sales Area Approx. 1,080 sq ft
Store Area Approx. 305 sq ft
3 WCs

VAT is applicable to this Lot

TENURE

Leasehold for a term of 250 years from June 2016 at a peppercorn ground rent.

TENANCY

The property is let on a full repairing and insuring lease to Coral Racing Limited (not in occupation) (T/O for Y/E 26/09/15 £667.8m, Pre-Tax Profit £81.1m and Shareholders' Funds £409.98m) (having approx. 1,600 branches) for a term of 10 years from 29th September 2008 at a current rent of £11,000 per annum exclusive.

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Buyer or Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.