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Lot 8 Sold: £412,000

Auction: Wednesday 9th April 2025

50-54 Market Street, Chorley, Lancashire PR7 2SE

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Lot 8   Click here for addendum

Freehold Town Centre Retail Investment – Gross Yield 11.6%
Under £25 per sq ft Freehold
6 Week Completion

Situation

Close to the junction with High Street in the heart of the town centre, adjacent to both CPS Store/Post Office and NatWest, opposite Halifax and nearby other multiples such as Santander, Cex, Johnsons and more.
In addition, the property is close to the covered market.
Chorley is an attractive market town which lies 10 miles north-west of Bolton, 8 miles south of Preston, enjoying easy access to the M6 (Junction 28) and the M61 (Junction 8).

Property

A semi-detached 'Art Deco' style building, comprising a Large Ground Floor Retail Unit with internal access to Ancillary Accommodation on the first floor. The property includes a goods lift and benefits from a rear delivery bay.

Accommodation1

Ground Floor Retail Unit
Gross Frontage 48'4"
Sales/Storage Area Approx. 8,082 sq ft
First Floor
Storage Area Approx. 7,559 sq ft
WCs
Total Area Approx. 15,641 sq ft

1Not inspected by Barnett Ross. Areas taken from VOA.


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 Worthington Brougham Furniture Limited as a Furniture Showroom (visit: www.wbfurniture.co.uk) for a term of 10 years from 25th August 2023 at a current rent of £43,500 per annum exclusive.

Rent Review and Tenant's Break August 2028

Note: There is a £10,750 Rent Deposit held.

Enquire about this lot:

Photo of John Barnett

John Barnett
020 8492 9449
jbarnett@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 £1,500 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.