TO BE SOLD BY PUBLIC AUCTION 31st OCTOBER 2018Mixed use investment, ground floor retail, upper floor residential located in a residential location close to the A58, Stanley Bank Way and the East Lancs Road (A580)
Currently returning circa 9% gross per annum as investment- scope for increasing rents on flats, a very solid investment.
Before buying at Auction, it is essential that you read our Notice to Prospective Buyers and the Common Auction Conditions.
You must not bid unless you have made yourself fully aware of the auction process. If you require help with this, please contact a member of the auction team.
Overview
This well fitted Nisa convenience store occupies a prominent position on West End Road, in the sought after town of Haydock in St Helens. The property is surrounded by residential dwellings, primary and secondary schools, sports clubs and neighbouring businesses. It is also located extremely close to Haydock Park Racecourse.
Ground Floor
Trading as a Nisa convenience store, the property is an end of terrace, two storey, brick built corner building, comprising a purpose fitted convenience store with a large rectangular trading space and good sized ancillary areas.
Possession
The ground floor is currently let to an independent, multiple operator at £14,000 per annum. The 15 year lease commenced in October 2017 and benefits from five yearly rent reviews. The permitted use class is A1 of the Town and Country Planning (Use Classes Order) 1987. The lease is contracted within the Landlord & Tenant Act 1954, with a tenant break option at the end of
year five.
The apartments are currently let on a monthly rolling assured shorthold tenancies with a six month notice period: One bed - £300 per calendar month, two bed - £350 per calendar month.
First Floor
There are two self contained apartments to the first floor comprising: Flat 1, one bedroom (68 SQM) Large lounge, large kitchen, bathroom, Flat 2, two bedroom (77 SQM), lounge, kitchen, bathroom.
Notes
EPC ratings: Flat 1: E. Flat 2: F. Shop: D
Who, When, Where?
Edward Mellor Auction
31ST OCTOBER 2018
A J Bell Stadium, 1 Stadium Way, Salford, M30 7EY
Important Notice
Before buying at Auction, it is essential that you read our Notices to Prospective Buyers and the Common Auction Conditions. These can be found on our website https://edwardmellor.co.uk/auctions/buying-at-auction
You must not bid unless you have made yourself fully aware of the auction process.
If you require help with this, please contact a member of the auction team.
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65-81 St Petersgate
Stockport
Cheshire
SK1 1DS
