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Lot 14 Sold: £124,000

Auction: Tuesday 17th December 2019

21 Bridge Street, Newton-le-Willows, Merseyside WA12 9BG

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Lot 14   Click here for addendum

Gross Yield 11.6%
6 Week Completion

Situation

Located in the town centre amongst a variety of local traders as well as Lloyds Bank and just a few yards away from Market Street that houses such multiple retailers as Heron Frozen Foods, Card Factory and Betfred. In addition, there is a Royal Mail Delivery Office nearby and Earlestown Rail Station is just a short walk away.
Newton-le-Willows lies on the main A49 midway between Manchester and Liverpool.

Property

A mid-terraced building comprising a Ground Floor Bank with internal access to Ancillary Accommodation at first floor level. In addition, there is a service road to the rear of the property.

ACCOMMODATION1

Ground Floor Bank
Gross Frontage 23'5”
Internal Width 21'11”
Built Depth 70'0”
Area Approx. 1,138 sq ft
First Floor Ancillary
Area Approx. 576 sq ft plus 2 WCs

1Not inspected by Barnett Ross. Areas and measurements provided by the Vendor

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 1st July 1860 at a fixed ground rent of £1.69 p.a.

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to Barclays Bank Plc (not in occupation) having approx. 1,600 branches (T/O for Y/E 31/12/18 £19.7bn, Pre-Tax Profit £1.3bn and Shareholders' Funds £47.7bn) for a term of 20 years from 7th July 2008 at a current rent of £14,500 per annum exclusive.

Rent Review March 2024

Tenant's Break July 2024

Note: The opportunity exists to negotiate a reverse premium with Barclays for them to surrender their lease.

Enquire about this lot:

Photo of Jonathan Ross

Jonathan Ross
020 8492 9449
jross@barnettross.co.uk

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

*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.