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Lot 15

Commercial Investment
Gross Yield 12%
6 Week Completion

Situation

Located within the heart of the town centre, opposite the Market Hall as well as being within close proximity to the town's main Bus Station. Other nearby multiples include Nationwide, William Hill, Betfred and Ladbrokes.
Accrington is located between Blackburn and Burnley just off the M65 (Junction 7) some 14 miles east of Preston and 22 miles north of Manchester.

Property

Forming part of a mid terrace building comprising a Ground Floor Shop with Ancillary Storage in the basement and on part first floor.

VAT is NOT applicable to this Lot

Tenure

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

Accommodation

Ground Floor Shop
Gross Frontage 34’11’’
Internal Width 29’4’’
Shop & Built Depth 46’4’’
Area Approx. 1,260 sq ft
Basement
Area Approx. 460 sq ft
Part First Floor
Area Approx. 52 sq ft

Total Area Approx. 1,772 sq ft

TENANCY

The property is let on a full repairing and insuring lease (by way of service charge) to RAL Limited (Adult Gaming) (t/a Admiral who trade from over 230 branches) (Parent Company – Novomatic UK Limited – visit: novomaticuk.com) for a term of 10 years from 24th June 2014 (No Breaks) 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.

49–51 Blackburn Road, Accrington, Lancashire BB5 1JJ