Town Hall Square, Rochdale, Greater Manchester, OL16

Location & Description:
Rochdale is a large market town in Greater Manchester, located approximately 10 miles north-east of Manchester city centre and 6 miles north of Oldham. The town benefits from excellent transport links, with the A627(M) connecting directly to Junction 20 of the M62 motorway, providing easy access to Manchester, Leeds, and Liverpool. The town is also served by the Metrolink, connecting it directly to Manchester city centre and the wider tram network.

With a population of over 220,000 within the wider borough, Rochdale is undergoing major regeneration focused on town centre renewal, housing, and public realm improvements, making it an increasingly attractive destination for residents, businesses and investors.

The subject property occupies a prominent position facing Town Hall Square and the historic town hall. The pitch has developed into a F&B / leisure pitch with neighbouring occupiers including Courtyard Public House, Koko Lounge, Empire Bar and The Flying Horse.

The property is formed of two sperate demises known as 1 South Parade, currently let out to Hartley Thomas & Wright Solicitors and the former banking hall facing Town Hall Square and Fleece Street. The existing tenant in 1 South Parade holds a lease inside the L&T Act 1954 but currently holding over. They have been a longstanding tenant and are to remain in occupation.

Demise:

Banking Hall:
Ground Floor Sales 3,718 sq ft (345.41 sq m)
Basement 1,848 sq ft (171.68 sq m)
First Floor 2,166 sq ft (201.23 sq m)
Second Floor 375 sq ft (34.84 sq m)

1 South Parade:
Ground Floor Sales 262 sq ft (24.34 sq m)
Basement 262 sq ft (24.34 sq m)
First Floor 427 sq ft (39.67 sq m)
Second Floor 475 sq ft (44.13 sq m)

Price:
Offers in the region of £410,000.

Tenure:

Banking Hall: The property is held on a long leasehold for 999 years from 1 May 1867 at an annual rent of £30.

1 South Parade: This property is held on a long lease for a term of 999 years from 1 May 1887 at an annual rent of £24 payable in half yearly instalments. The property is let to Hartley Thomas & Wright Solicitors on a 3 year lease inside the provisions of the L&T Act 1954 from September 2021 at a rent of £7,500 pax. The tenant is currently holding over.

VAT:
We have been informed by our client that the property is not elected for VAT. Buyer is to make
their own investigation.

EPC:
Available upon request.

Legal and Professional Fees:
Each party to bear their own costs.

Rating Assessment:
Rateable Value (April 2023) - £39,500.

In accordance with the current Anti-Money Laundering (AML) Regulations, the purchaser/occupier will be required to satisfy the Vendor and their agents regarding the source of the funds used to complete the transaction.