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Lot 22 Refer

47–49 Brackley Street,Farnworth, Bolton,Lancashire BL4 9DS

  • Photo1

Lot 22

GROSS YIELD 12.7%
6 Week completion

SITUATION

Located in the town’s main pedestrianised retail thoroughfare amongst such multiples as Asda, Iceland, Greggs, Brighthouse, Select, Thomas Cook, Card Factory, William Hill, B&M Bargains and Savers.

The property is located adjacent to the Asda car park and opposite Farnworth Bus Station and Farnworth Market Precinct.

Farnworth is a suburb of Greater Manchester, located approximately 10 miles north-west of Manchester city centre and 3 miles south of Bolton with easy access to the M61 (Junctions 2 & 3).

PROPERTY

A mid terraced building comprising a Ground Floor Amusement Arcade with Café (36 covers) with internal access to Storage at first and second floor levels.

The property benefits from a rear customer entrance which faces an entrance to the Iceland Supermarket and in addition the property provides access to the cafe’s outside seating and smoking area which is located to the rear of the adjoining unit, but is not included in the sale.

TENURE

No. 47 – Leasehold for a term of 999 years (less 5 days) from 4th June 1863 at an apportioned fixed ground rent of £1.18 p.a.

No. 49 – Leasehold for a term of 999 years (less 5 days) from 1st November 1870 at nil ground rent.

VAT is NOT applicable to this Lot

ACCOMMODATION

Ground Floor Amusement Arcade
Gross Frontage 30'6"
Internal Width 27'8"
Shop & Built Depth 65'1"
Area Approx. 1,500 sq ft
WC
First Floor Store Area Approx. 630 sq ft
Second Floor Not inspected – currently sealed off

TENANCY

The entire property is let on a full repairing and insuring lease to Cashino Gaming Limited as a Cashino Gaming Arcade (part of the Praesepe Group, which operates approx. 150 gaming venues, the Beacon chain of bingo clubs and an online Casino) for a term of 5 years from 22nd June 2014 (in occupation since 2010) at a current rent of £28,500 per annum exclusive.

Note 1: We understand the property has traded as a gaming arcade for at least 20 years.

Enquire about this lot:

Photo of STEVEN GROSSMAN

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

Photo of ELLIOTT GREENE

Elliott Greene
020 8492 9449
egreene@barnettross.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,000 plus VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.