Commercial Property for saleChorley New Road, Bolton
Offers in Region of £400,000
Retail, office, leisure parade producing £46,000 pax
Net yield of 11.18%
Location - Prominently situated in the centre of Horwich fronting Chorley New Road (A673) at its junction with Mason Street and Winter Hey Lane. Chorley New Road being the main arterial route leading through Horwich from Bolton, Middlebrook and the M61 (Junction 6) to the south and Chorley to the north.
Description - Traditionally constructed two storey parade of retail units, either side of the former cinema now occupied as a childrens play centre. The property has four component parts briefly:
172 Chorley New Road, Ground floor retail unit
172a Chorley New Road - First Floor Office Suite
174 Chorley New Road - Childrens Play Centre
176 Chorley New Road - double fronted ground floor retail unit.
Accommodation - 172 Chorley New Road - Ground floor retail premises - 12.08 sq m (130 sq ft)
172a Chorley New Road - First floor office suite - 56.2 sq m (605 sq ft)
174 Chorley New Road - Childrens play centre - 378.5 sq m (4,069 sq ft)
176 Chorley New Road - Double fronted retail unit - 107.4 sq m (1,156 sq ft)
Tenancy Schedule - Ground Floor
172 Chorley New Road - Cash 4 Clothes £4,000 pa
172a Chorley New Road - Vacant with rental guarantee for 12 months from the vendor at £4,000 pa
174 Chorley New Road - Currently let to Tiger Tumbles Play House with a personal guarantee for a term of 5 years from 2016 incorporating a rent review in 2019 . Lease is drawn on FRI terms (by way of Schedule of Condition) at a current passing rental of £30,000 pa
176 Chorley New Road (double fronted retail unit) - Currently vacant with rental guarantee for 12 months from the vendor at £8,000 pa
Total Rental Income£46,000 pa
Asking Price - Offers in the region of £400,000 which equates to a net yield of 11.18% assuming purchasers costs at 2.88%.
Tenure - Believed to be long leasehold.
Vat - All figures quoted are exclusive of but may be subject to VAT at the prevailing rate.
Epc - Available on request.
Business Rates - 174 Chorley New Road
2010 Rateable Value £8,800
Draft 2017 rateable Value is £11,250
Viewing - For further information please contact......
Roger Hannah & Co Ltd act as agents for the vendor(s) or lessor(s) of this property and gives notice that: (i) The particulars are a general outline only for the guidance of intending purchasers or lessors and do not constitute an offer or contract (ii) All descriptions are given in good faith and are believed to be correct, but any intending purchasers or lessees should not rely on them as statements of fact and must satisfy themselves by inspection or otherwise as to their correctness. (iii) None of the buildings services or service installations have been tested and are not warranted to be in working order. (iv) No employee of the two agents has any authority to make or give any representation or warranty whatever in relation to the property. (v) Unless otherwise stated all prices are quoted exclusive of VAT. (vi) Where applicable an Energy Performance Certificate is available upon request.
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