Location
Situated in the pedestrianised town centre of Accrington, opposite Accrington Arndale Centre and nearby to occupiers such as Santander, Costa Coffee, and Specsavers. Access via road is primarily provided by the A679 and Eastgate, with Accrington train station also located nearby.
Description
An income-producing, part-let commercial investment opportunity: a substantial, two-storey and double-fronted retail unit (2 Cornhill), sold vacant, along with a number of neighbouring units which are effectively sold by way of long leaseholds but generate a total rent of £750 per annum. 2 Cornhill was most recently occupied by Boots and enjoys a prominent retail position and offers investors an opportunity to generate income.
Tenure
The lot is sold leasehold on a 900 year term from 1st September 1936 at a fixed ground rent of £650 per annum.
Tenancy
Units 1/2, 3 The Broadway, and 4a, 4b and 6 Cornhill are sold subject to long leaseholds expiring in August 2836. The total income generated from these leaseholds is £750 per annum.
Costs
Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
VAT
The Seller has made an option to tax of the Property. The sale is intended to be a transfer of a going concern to which Condition G15 applies unless the Buyer is unable to meet the requisite criteria to
treat the sale/purchase as a transfer of a going concern in which case VAT shall be payable on the price.
General
1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.
2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 21ST MAY AND CLOSES ON WEDNESDAY 22ND MAY.
3. Energy Performance Certificate = B.
4. As per the Special Conditions, the buyer of this lot will, upon completion, pay to the seller the total rental arrears. The Special Conditions notes the arrears amounts and states that the eventual amount payable will be apportioned up until the date of completion.
