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    Key features

    • High Yielding Retail Investment
    • Let to Betfred with 4.5 Years Unexpired
    • Producing £30,000 per annum
    • Tenant in Occupation for 20+ Years
    • New Lease Agreed in 2023
    • Prime, Town Centre, Location
    • Double Fronted Unit on Pedestrianised Square
    • Commercial Upper Parts Sold Long Leasehold
    • Guide Price Reflects 9.68% Gross Yield

    Description

    The property comprises a prime, high yielding, retail investment situated with a frontage to the central square of Wigan.

    Arranged across ground, first and second floors, the property provides a single, double fronted, retail unit to the ground floor, with office accommodation to the upper parts (sold off on a long leasehold basis).

    The ground floor is let to Done Brothers (Cash Betting) Limited (t/a Betfred) on a lease expiring 14/09/2028 and paying £30,000 per annum. The tenant has been a long standing occupier having originally commenced their occupation in 2002 and have displayed commitment to the location by way of a new five year lease agreed in September 2023.

    The property occupies a prominent corner pitch with a frontage to Wigan Market Place, a pedestrianised square at the junction of all principal retail streets in Wigan. The property is opposite The Moon Under Water Wetherspoons pub and the Makinson Arcade shopping centre is immediately to the north. Local occupiers include Ladbrokes, Barclays, Greggs, and JD Sports.

    Additional information

    Tenure

    Freehold

    Tenancy

    The ground floor is let to Done Brothers (Cash Betting) Limited (t/a Betfred) on a lease expiring 14/09/2028 and paying a rent of £30,000 per annum. The lease is on full repairing and insuring terms and is within the Security of Tenure provisions of the Landlord and Tenant 1954 Act.


    The upper parts are let on a single lease to Bannan & Sulley Developments Limited for a term of 150 years expiring 16/09/2171 and paying a peppercorn rent.

    Rent

    £30,000 per annum

    Notes

    We understand the property is elected for VAT, it is anticipated the sale can be treated as a Transfer of a Going Concern (TOGC).

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      Accommodation / Tenancy Schedule

      Local information

      • Wigan Wallgate Station - 150m
      • Wigan North Western Station - 0.2 miles

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums