Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
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.
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
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).