LOCATION

Market Street is a pedestrianised street in the prime retail core of Bolton, which links Deansgate with Hotel Street and Victoria Square. The premises occupy a prominent position, with retailers nearby including Thorntons, Hampsons and Clinton Cards.

RATES

The premises are assessed for rating purposes as follows:

Rateable Value (2010): £51,500

Rates Payable: £22,300 pa

PROPOSAL

Our client is seeking offers excess of £550,000 (Five hundred and Fifty thousand pounds) subject to contract and exclusive of VAT, for the freehold interest in this property.

A purchase at this level would reflect a net initial yield of 10.75% after purchaser’s costs at 5.725%.

ACCOMMODATION

The premises are arranged over ground, first and second floors, providing the following floor areas:

Ground Floor Sales: 737 sq ft 68.5 sq m

First Floor Storage: 629 sq ft 58.4 sq m

Second Floor Storage: 798 sq ft 74.1 sq m

LEASE

The premises are currently occupied by Saville Fashions Ltd, trading as Mary Jane, who have agreed terms to take the above premises on the basis of a new 10 year FRI lease, subject to a tenant only break option at the expiration of the fifth year of the term. The initial rent has been agreed at £62,500 per annum exclusive.

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