3 - 7 Arcade Street, Wigan, Wigan, WN1 1DE
- PROPERTY TYPE
Commercial Property
- SIZE
2,669 sq ft
248 sq m
Key features
- £26,388 ERV
- Scope for future development
- Fantastic investment opportunity
Description
MULTI LET INCOME GENERATING COMMERCIAL PROPERTY TO BE SOLD AT AUCTION
Description
Arcade Street, Wigan Town Centre - A rare opportunity has arisen to acquire an income-producing commercial investment situated along the popular leisure and bar circuit of Arcade Street in Wigan Town Centre.
PLEASE REGISTER ON AUCTIONEERS WEBSITE FOR LEGAL PACK AND VIEWING INFO
The property is a substantial two-storey, mid-terraced premises of brick construction beneath a pitched slate roof.Unit 3 (Ground Floor):
Formerly a barber shop, currently available at a rent of £5,988 per annum (£499 pcm).Units 5-7 (Ground & First Floor): Currently let on a 5-year FRI lease at £19,200 per annum (£1,600 pcm) from 29/11/23.
This lease is held by an independent operator trading as 'Envy Lounge Bar' and contains no break options
There is considerable scope for future development, including the potential to add an additional floor. With a separate entrance already onto Arcade Street, the upper floors could be converted for residential use (subject to the necessary planning consents).
We understand that mains electricity, water, and drainage are connected.
Business Rates (2023 Listings):Unit 3: Rateable Value of £3,250.Unit 5-7:
Rateable Value of £7,700.Note:
Both units currently qualify for 100% Small Business Rate Relief.
Legal Pack
A legal pack is a collaboration of important documents of the property or land that is going to be sold at auction. To review the legal pack, click the Legal Documents button at the bottom of this advert or visit tcpa.co.uk.
Auction Information
To view the auction information, click the Online Bidding button at the bottom of this advert or visit tcpa.co.uk.
UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 5%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).
Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the LEGAL DOCUMENTS'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
Brochures
Legal DocumentsOnline BiddingEnergy Performance Certificates
EPC 13 - 7 Arcade Street, Wigan, Wigan, WN1 1DE
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Wigan Wallgate Station0.1 miles
- Wigan North Western Station0.2 miles
- Ince Station0.9 miles
Notes
Disclaimer - Property reference 342690. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Town & Country North West, Liverpool. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Town & Country North West, Liverpool on 0151 453 3527.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
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