Retail Property (high street) for sale

72 - 78 Sutherland Road

£425,000

Property Description

Key features

  • Producing a Net Rental of 35,400 p.a.
  • Circa 75% let to Co-operative Group Ltd
  • Surrounded by densely populated residential area
  • Both units fitted out to a high
  • Let on long term leases
  • 425,000 representing a NIY of circa 8.0%

Full description

LOCATION
The property fronts onto Sutherland Road and is situated within the popular and densely populated Darn Hill residential housing estate. Heywood Town Centre is approximately 2 miles to the north east, whilst there is easy access available to Junction 19 of the M62 Motorway, which is approximately 1.5m south west.
DESCRIPTION
The property comprises a regular shaped and substantial single storey detached building of cavity brick construction set beneath a flat roof covering.
The property is split into two separate elements, which trade as “Adams” Hot-Food Takeaway and “The Co-Operative Food”.
72 Sutherland Road
Adam’s Hot Food Takeaway (no. 72) is situated to the right hand side of the ground floor accommodation and is fitted out to a good standard, including serving counter at the front, preparation areas and kitchen situated centrally, together with storage, staff WC and loading facilities at the rear.
74-78 Sutherland Road
The Co-Operative Food Store (no. 74-78) a regular shaped retail unit which is fitted out to a high standard, consisting of open plan retail sales accommodation, together with offices, staff WC, staff kitchen and refrigeration stores situated at the rear.
Externally, there is customer car parking at the rear for approximately 10 vehicles and loading for deliveries. The property benefits from being dominated by housing and as such the Tenants are able to draw upon a critical mass of custom.
ACCOMMODATION
In accordance with the International Property Measurement Standards (1st Edition), we have calculated the following Net Internal Areas:-
Sq m Sq ft
72 Sutherland Road (Adams) 99.18 1,068
74-78 Sutherland Road 247.36 3,201
(Co-Operative Food Store)
TOTAL 396.55 4,269
SERVICES
All main services are connected to the property.
Please note that none of the services installations or appliances have been tested by Lamb & Swift Commercial and we are therefore unable to comment on their condition or adequacy.
RATEABLE VALUE
72 Sutherland Road
£7,100
74 - 78 Sutherland Road
£22,000
OCCUPATIONAL LEASES
72 Sutherland Road
Let to Fozia Bano on an effective Full Repairing and Insuring Lease terms by way of a 20 year lease dated 18th October 2010. The passing rental is £6,000 per annum and is reviewed every 3rd anniversary of the term.
74 - 78 Sutherland Road
Let to Co-operative Group Ltd on an effective Full Repairing and Insuring Lease terms by way of a 10 year lease dated 7th February 2015. The Lease incorporates a Tenant Only Break Option on the 5th anniversary of the term, subject to serving no less than 6 months prior notice. The passing rental is £29,400 per annum and is subject to an upwards only review at the 5th anniversary of the term.
Total Net Rent is £35,400 per annum.
** Please note that the Landlord is responsible for the costs of all roof repairs and maintenance works to the Co-Operative Food-store Premises.
SALE PRICE
£425,000 representing a Net Initial Yield of circa 8.0%
VAT
VAT is applicable at the prevailing rate.
LEGAL COSTS
Each party are to be responsible for their own legal costs involved in the transaction.
EPC
EPC’s are available upon request.
VIEWING
Strictly by appointment with sole agents,
LAMB & SWIFT COMMERCIAL.
Contact: Nick Swift and Danny Westwell
E-mail: nswift@lambandswift.com
dwestwell@lambandswift.com

More information from this agent

Nearest stations

  • Bury (2.0 mi)
  • Bury Interchange (2.0 mi)
  • Castleton (2.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Lamb & Swift Commercial, Bolton

179 Chorley New Road Bolton BL1 4QZ

01204 299115 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Bury (2.0 mi)
  • Bury Interchange (2.0 mi)
  • Castleton (2.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Lamb & Swift Commercial, Bolton

179 Chorley New Road Bolton BL1 4QZ

01204 299115 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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