Former Yorkshire Bank premises 447 sq m (4,809 sq ft) in prime town centre location. Part income producing and with the benefit of planning for a licensed premises this could be a very shrewd investment. Our client advises the First Floor, (1 Farrow Street), is let on a 10 year lease from 4th March 2019 at £12,000 per annum, rising to £13,200 from the 4th March 2024. The ground floor rental estimation is £30,000 per annum.
The lot goes under the hammer on 12th February 2020
Finance is available on this lot: call us to find out how on 0161 443 4740
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 commercial property was previously occupied by the Yorkshire Bank and extends to approximately 447 sq m (4,809 sq ft), or thereabouts, the Ground Floor of which is vacant.
An experienced operator may feel that the unit is suitable for a wide variety of potential uses (subject to planning permission).
The premises are a 2 storey corner property with brick elevations beneath a flat roof.
Externally and to the rear is a surface car park, site area of which is approximately 2,188 sq ft.
Planning
The planning application, which was submitted for change of use from A2 (financial) to A4 drinking establishment), was approved on 29th March 2018.
For further information please follow the link below to the planning portal, searching for reference
PA/341258/18:-http://planningpa.oldham.gov.uk
Possession
Our client advises the First Floor, (1 Farrow Street), is let on a 10 year lease with effect from 4th March 2019 at a rent of £12,000 per annum, rising to £13,200 from the 4th March 2024.
The ground floor rental estimation is £30,000 per annum.
EPC Rating
97 (D)
Notes
Lined and shaded map is for purpose of identification only: please refer to the online legal pack for the actual title plan.
Rates
The property is in an area administered by Oldham Borough Council. The VOA website shows the current Rateable Value as £33,500, with effect from 1st April 2017.
NB: The Business Rates may need to be re-assessed if the use of the property is changed.
Who, When, Where?
Edward Mellor Auction
Date: 12th February 2020 - doors open 12 noon
Sheridan Suite, 371 Oldham Road, Manchester, M40 8RR
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 www.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
