Retail premises for sale in Bradshawgate, Bolton BL1

Investment Consideration:
Gross Initial Yield: 6.00%
Rental Income: £18,000 p.a.
Erv £25,000 p.a. Giy: 8.33%
Asset management opportunity. Tenant vacating in September 2024
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 Jordan`s Residential Lettings Ltd* for a term of 15 years from 4th September 2009 at a current rent of £18,000 per annum and the lease contains full repairing and insuring covenants.
*Tenant will be vacating the property upon lease expiry on 3rd September 2024. Erv: £25,000 p.a.

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.