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AGENT'S DETAILS


Wigan – Freehold Leisure Investment

For sale: £495,000.00|22912 Sq Ft|Leisure, Retail, Retail - High Street, Leisure Property, Pubs/Bars/Clubs, Restaurant/Cafes, Licensed & Leisure

PROPERTY DETAILS

FOR SALE£495,000.00
SIZE22912 Sq Ft
ADDRESS35-45 (only odd) King Street, Wigan, Greater Manchester WN1 1DY
TYPELeisure, Retail, Retail - High Street, Leisure Property, Pubs/Bars/Clubs, Restaurant/Cafes, Licensed & Leisure
TENUREFor Sale Freehold
POSTED ON31st May 2020

DESCRIPTION

Investment Consideration:
Established town centre leisure location.
Comprising two public houses let on a single lease with a personal guarantee expiring in 2030 (No Breaks).
The property is arranged on ground and two upper floors to provide two units. Einstein’s Restaurant/Bar and Club is arranged over ground floor only. Jaks Bar is arranged over part ground, first and second floors.
VAT is applicable to this property.
Within close proximity to Wigan Wallgate and Wigan North Western Rail Stations.
Occupiers close by include Revolution, Maloney’s Bar (adjacent), The Hub Bar and The Blind Tiger Bar (opposite), Ibiza Bar Nightclub and Bentleys Bar, amongst many others

Property Description:
The property is arranged on ground and two upper floors to provide two units. Einstein’s Restaurant/Bar and Club is arranged over ground floor only. Jaks Bar is arranged over part ground, first and second floors.

The property provides the following accommodation and dimensions:
Ground Floor (Einstein’s Restaurant/Bar): 984.95 sq m (10,602 sq ft)
Part Ground, First & Second Floor (Jaks Bar): 1,143.63 sq m (12,310 sq ft)

Tenancy:
The entire property is at present let to Black Cat Bars (Wigan) Ltd (with personal guarantee) for a term of 15 years from 28th April 2015 at a current rent of £55,000 per annum. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants.

Location:
Wigan is a major retail centre situated some 17 miles north-west of Manchester and 15 miles south of Preston. The town benefits from its proximity to the M6 Motorway (Junction 26) which is 4 miles to the west and to the M61 Motorway (Junction 6) 6 miles to the north-east. The property is well located on the west side of King Street in an established leisure area within Wigan town centre. Wigan Wallgate and Wigan North Western Rail Stations are both within 0.1 miles. The Grand Arcade Shopping Centre is also nearby, and there is a large public car park to the rear. Occupiers close by include Maloney’s Bar (adjacent), The Hub Bar and The Blind Tiger Bar (opposite), Ibiza Bar Nightclub and Bentleys Bar, amongst many others.

LOCATION

Location: 35-45 (only odd) King Street, Wigan, Greater Manchester WN1 1DY

Wigan Wallgate (0.1 miles)

Wigan North Western (0.1 miles)

Ince (0.9 miles)

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