Investment Consideration: Gross Initial Yield: 7.50% Rental Income: £15,000 p.a. VAT is applicable to this property Comprises ground floor retail shop with 2 parking spaces at rear Bolton town centre has recently been redeveloped, and government funding secured for further redevelopment Situated within 5 min walk from Bolton Train Station with occupiers nearby including post office, restaurants/takeaways, convenience store, JD Wetherspoon and more. Property Description: Comprises mid-terrace ground floor shop with 2 parking spaces, currently t/a estate agents and providing the following accommodation and dimensions: Ground Floor: 90 sq m (969 sq ft) Open plan retail, kitchenette, wc Tenancy: The property is at present let to an Individual for a term of 5 years from 5th September 2024 at a current rent of £15,000 per annum and the lease contains full repairing and insuring covenants. Rent review every 2 years open market, upward only. Tenant and Landlord mutually have right to determine the lease on or after the 3rd year anniversary with 3 months’ notice. Rent deposit held of £3,750. Tenure: Long Leasehold. Held on a 250 Year lease from 1st January 2014 at a ground rent of £250 p.a. Rent review linked to RPI on 1st July 2024 and every 5 years thereafter. Location: Bolton is a town in Greater Manchester in England. In the foothills of the West Pennine Moors, Bolton is between Manchester, Blackburn, Wigan, Bury and Salford. It is surrounded by several towns and villages that form the wider borough, of which Bolton is the administrative centre. The property is situated in the heart of the town centre within 5 min walk from Bolton Train Station with occupiers nearby including post office, restaurants/takeaways, convenience store, JD Wetherspoon and more.
