Withdrawn

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Prime town centre long leasehold investment comprising a prominent building with accommodation across ground, lower ground and first floors extending to 10,875 sq ft, let.

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Description/Location

Situated in the town centre opposite Town Square Shopping Centre, nearby operators include Primark, McDonalds, Barclays and Boots. Let to Sports Direct for 10 years from 04/10/2010 producing £150,000 pa (effectively FRi) with rent reviews every 5 years. www.sportsdirect.com. For the year ended 28.04.2019 Sports Direct.com Retail Limited reported a turnover of £2.188bn, a pre-tax profit of £345.610m, shareholders funds of £1.377bn and a net worth of £1.375bn (Source: Experian).

VAT IS APPLICABLE TO THIS LOT

Tenure

Leasehold: New 175 year lease from completion, peppercorn ground rent.
Energy Rating: C

Local Authority

Oldham Council

Viewing

Please contact Elliott Network Auctions on 01923 240420

Rent

Current Rent: £150,000 pa

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.