Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 15 Click here for addendum

Leasehold Commercial/Residential Investment
Gross Yield 10.1%
6 Week Completion

Situation

Located close to the junction with Union Road amongst a host of independent retailers all serving the surrounding residential population and being approx. 1 mile north-east of the town centre.
Bolton is a major retail and commercial centre enjoying easy access via the M61 and M62 motorways, some 10 miles north-west of Manchester City Centre.

Property

A mid terrace building comprising a Ground Floor Take-Away with internal access to Residential Accommodation at first and attic floor levels.
In addition, the property benefits from rear access on to Back Horsa Street.

Accommodation¹

Ground Floor Take-Away
Gross Frontage 15'0''
Built Depth 52'0''
First & Attic Floor Residential Accommodation
First Floor - 1 Bedroom, Living Room, Bathroom/WC
Attic Floor - Storeroom

¹Not inspected by Barnett Ross.

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 12th May 1874 (thus having approx. 851 years unexpired) at a fixed ground rent of £3 per annum.

Tenancy

The entire property is let on a full repairing and insuring lease to V. A. Vadlakonda as an Indian take-away for a term of 6 years from 18th December 2020 at a current rent of £10,140 per annum exclusive.

Rent Review 2023

Note 1: The Vendor replaced the roof in 2020.

Note 2: The tenant advised he has recently spent circa £35,000 on a refit of the premises.

*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.

55 Tonge Moor Road, Bolton, Lancashire BL2 2DL