15-19 Market Street, Bolton, Lancashire, BL1 1BU

Situation

The property occupies a prominent position within the prime retailing area of Bolton, centered around Deansgate, Victoria Square and Bradshawgate. Nearby retailers include Post Office, Vodafone, Barclays, Superdrug and Greggs.

Description

We are instructed to seek offers in excess of £150,000 reflecting a Net initial yield 11.78% and a Reversionary yield of 15.06% subject to contract and exclusive of VAT. Yield net of purchaser's costs at 1.8%.

* Bolton is a historic NW industrial town
* Town Centre is being redeveloped with a vision for a residential-led mixed-use scheme, with new homes, commercial spaces, leisure venues, and reconnected pedestrian routes between Victoria Square and Bradshawgate
* The property comprises a prominent position in the centre of the town within the main retailing pitch
* The investment offers an attractive 3-storey building with retail accommodation on the ground floor with ancillary first and second floors
* Freehold Title
* The property is let to the excellent covenant of YMCA. Credit score 100/100 "Very Low Risk"
* 5 year FRI lease from 24/06/24 at a rent of £18,000 pa rising to £20,000 pa (24/06/27) and £23,000 pa (24/06/28)
* Tenant Break on 23/06/2027
* WAULT to lease expiry 3 years 11 months (1 years 11 months to first break)

Tenure Comments

The property is held Freehold under title no. GM927264.
Please note, the title includes the service yard/parking to the rear with vehicular access via Pepper Street.

The property is let to YMCA on a full repairing and insuring lease (Subject to a schedule of condition) for a term of 5 years from 24th June 2024 at an initial rental of £18,000 pa with fixed increases to £20,000 on on 24th June 2027 and £23,000 pa on 24th June 2028.
Tenant break clause 3rd year of term.

EPC

The EPC Rating is C (Valid until 01/03/2033)

VAT

The property has been elected for VAT.