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Lot 11 Click here for addendum

Gross Yield 12%
6 Week Completion

Situation

Located near the junction with Rock Street in this mixed commercial and residential area, being directly opposite the impressive Mahdlo Oldham Charity premises and diagonally opposite the St Mary's Medical Centre. In addition, the property is a short walk away from Spindles Town Square Shopping Centre which hosts a variety of multiple retailers including Boots, Costa, EE, Holland & Barrett, Greggs and Lloyds Bank.
Oldham is approx. 7 miles north-east of Manchester with good road links via the M60 motorway (Junction 22) and A62.

Property

Comprising a single storey detached Ground Floor Shop with a Side Store and 1 Parking Space.

Accommodation

Ground Floor Shop
Gross Frontage 62'8”
Shop Width 44'5”
Shop & Built Depth 31'0”
Sales Area Approx 1,130 sq ft
Side Store Area Approx 290 sq ft
WC
Total Area Approx 1,420 sq ft

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to Bestway Panacea Healthcare Limited trading as Well Pharmacy (see Tenant Profile) for a term of 5 years from 14th March 2014 (renewal of a previous lease) at a current rent of £12,000 per annum exclusive.

Tenant Profile

In 2014 the Co-operative Pharmacy was acquired by Bestway and in 2015 all 794 Co-operative pharmacies relaunched as ‘Well'. Bestway also owns the chain of Best-one convenience stores.
‘Well' are now the country's largest independent pharmacy chain, serving 1.3 million customers every week and dispensing 74 million prescriptions each year and the third largest pharmacy chain overall across the UK (source: www.well.co.uk).

Note: The tenant did not operate their March 2017 Break Clause.

*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.

44 Horsedge Street, Oldham, Lancashire OL1 3SH