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Lot 38

(gross yield 10.6%)
6 Week completion

SITUATION

Occupying a prominent trading position along the part pedestrianised Chester Street, near to TJ Hughes and just a few yards from the junction with High Street which hosts a variety of traders including Subway and Nationwide as well as a number of pubs and restaurants.
In addition, the development of the nearby Eagles Meadow Shopping Scheme has enhanced the town's retail catchment with its occupiers including Debenhams and Marks & Spencer.
Wrexham is known to be the principle town of north-east Wales and is located approx. 10 miles south-west of Chester and approx. 20 miles west of Crewe with good road links via the M56 and M6.

PROPERTY

Forming part of an end of terraced building comprising a Ground Floor Shop and Basement.

ACCOMMODATION

(Not inspected)
Ground Floor Shop
Internal Width 30'0”
Shop Depth 53'5”
Built Depth 56'0”
Sales Area Approx. 1,216 sq ft*
WCs
Basement
Area Approx. 402 sq ft*

*Area from VOA

VAT is applicable to this Lot

TENURE

Leasehold for a term of 999 years from completion at a peppercorn.

TENANCY

The property is let on an internal repairing and insuring lease to Coral Racing Ltd (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 26th September 2014 (in occupation for over 13 years) at a current rent of £18,000 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 Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 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.

4 Chester Street, Wrexham, Clwyd LL13 8BD