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Lot 23

Gross Yield 20%
6 Week Completion

Situation

Located in the town centre on this pedestrianised retail thoroughfare opposite GAME and amongst such multiples as Bonmarché, Ryman, Creams Desserts and a host of local traders as well as being just yards from Redrock Stockport - Stockport's new leisure destination which is home to Zizzi, Pizza Express, The Gym, The Light Sociable Cinema and more, whilst being nearby the Merseyway Shopping Centre.
Stockport lies approx. 6 miles south-east of Manchester and approx. 28 miles west of Sheffield.

Property

A mid-terraced building comprising a Ground Floor Shop with internal access to Ancillary Accommodation at first floor level.

Accommodation

Ground Floor Shop
Gross Frontage 16'11”
Internal Width 14'9”
Shop Depth 50'9”
Built Depth 54'3”
First Floor Ancillary
Area Approx 233 sq ft
Kitchenette, WCs

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to Greenhalghs Craft Bakery Ltd (see Tenant Profile) for a term of 15 years from 27th July 2007 at a current rent of £33,000 per annum exclusive.

Tenant Profile

Greenhalgh's is a long-established family Craft Bakery which was founded in 1957. The Company currently employs approximately 950 staff and is one of the largest employers in the Bolton area with 61 retail shops, along with a wholesale and fleet sector, supplying high quality bakery products to convenience stores, high street retail stores, farm shops and sole proprietorships, through to nationwide providers including major supermarket chains (source: www.greenhalghs.com).

*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 £1,500 including 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.

68 Princes Street, Stockport, Cheshire SK1 1RJ