Clipsey Lane, Haydock, WA11 0QW

Investment

Description

Investment Summary

  • Located on a very busy Neighbourhood Shopping Centre
  • High footfall generated by adjoining Aldi Supermarket and Iceland Frozen Foods, opposite a Tesco Superstore
  • Fronting a busy arterial road the A599
  • A spread of income between 3 tenants
  • Low passing rentals reflecting between £8.20 and £8.60 psf
  • Offers are invited in excess of £265,000 reflecting a net initial yield of 10% after graduated purchasers costs

Location

The property is located fronting the A599 one of the principal arterial routes from the M6 (junction 23) to Haydock Town Centre.

Other occupiers on the estate include an Aldi Supermarket and Iceland Frozen Food Store with a large Tesco Superstore being located directly opposite.

Description

The property comprises a single storey steel frame retail unit clad in bricks under a pitched tiled roof.

The building which was completed in the early 1990s was part of the larger Neighbourhood Shopping Centre of 3 retail units (the other 2 being sold off to Aldi and Iceland) with a Whitbread Public House development at the front of the estate.

The property has the benefit of the use of a large tarmacadam surfaced car park providing 156 customer car parking spaces.

To the rear of the unit is a concrete surfaced service yard fully enclosed in 2m palisade fencing with security gates.

Accommodation

The property provides the following accommodation:

Unit 1 1,100 sq ft 102.19 sq m
Unit 2 1,100 sq ft 102.19 sq m
Unit 3 1,100 sq ft 102.19 sq m
Total 3,300 sq ft 306.58 sq m

Tenure

The property is for sale by way of assignment of a 999 year lease from 1st January 1992 at a fixed ground rent of £1,000 pa.

Tenancies

The property is let in accordance with the attached schedule:

UNIT TENANT TERM TERM EXPIRY RENT REVIEW DATE PASSING RENT
1 Shofikur Rahman (Indian Restaurant) 20 years from 01.01.2008 31.12.2027 5 yearly (2018 review outstanding) £9,000 pa
2 Kitchen & Bathroom Interiors Ltd 3 years from 01.11.2011 31.10.2014 (tenant holding over) N/A £9,500 pa
3 K & A Tools Ltd 10 years from 25.12.2007 24.12.2017 (tenant holding over) N/A £9,500 pa
TOTAL £28,000 pa
Head lease rent £1,000 pa
NET RENTAL TOTAL £27,000 PA

Energy Performance Certificate

Copies of the EPC’s for the property are available upon request.

The properties have the following EPC Ratings:

Unit 1
Unit 2
Unit 3

Proposal

Offers are invited in excess of £265,000 (two hundred and sixty five thousand pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 10% after graduated purchaser’s costs.

VAT

The property has been elected for VAT and it is envisaged that the transaction would be treated as a transfer of a going concern (TOGC).

Anti Money Laundering

The successful bidder will be obliged to provide information in line with Anti Money Laundering Legislation prior to instruction of solicitors.

SUBJECT TO CONTRACT

Status Sold
Type Investment
To Let/For Sale For Sale

Address

Clipsey Lane
Haydock
WA11 0QW

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