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

Lot 7

Commercial Investment – Gross Yield 11.7%
On behalf of a PLC
6 Week Completion

Situation

Located in the pedestrianised town centre opposite Cancer Research, adjacent to SunSeekers and amongst such other multiple retailers as Home Bargains, Greggs, NatWest, Subway, Heron Foods and close to the entrance to Widnes Shopping Park.
Widnes is located on the main A562 and A568, midway between the M2 and M66 approx. 12 miles from Liverpool and 7 miles from Warrington.

Property

A mid terrace building comprising a Ground Floor Shop with internal access to Ancillary Staff/Store on the first floor.
The property benefits from the use of a rear Service Area for loading.

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 1000 years from 1st January 1866 at a ground rent of £16 p.a.

Accommodation

Ground Floor Shop
Gross Frontage 30'0”
Internal Width 28'10”
widening at rear to 37'0”
Shop Depth 44'5”
Built Depth 66'9”
Area Approx. 1,824 sq ft¹
First Floor Ancillary
Area Approx. 1,423 sq ft¹
WC
_________________

Total Area Approx. 3,247 sq ft¹

¹Areas taken from VOA.

Tenancy

The entire property is let on an internal repairing and insuring lease (subject to a schedule of condition) to DEBRA as a registered charity (having 90+ branches) (T/O for Y/E 31.12.22 £16.4m, Pre-Tax Profit £451,797 and Shareholders' Funds £4.3m) for a term of 6 years from 20th December 2020 (renewal of a previous lease - in occupation since 2014) at a current rent of £17,500 per annum exclusive.

Note: The Tenant did not operate their December 2023 Break Clause.

*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.

154/156 Widnes Road, Widnes, Cheshire WA8 6BA