62 Market Street, Bolton, Lancashire BL4 7NY

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Sold for

£92,000

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Property Details

Location

Auction Details

Description

A mid-terraced mixed commercial and residential investment property which is currently let at a combined rent of £8,200 per annum. The ground floor retail unit currently trades as a barber shop with kitchen and w/c to the rear and has fixed annual rent increases. The first floor comprises a one bedroom apartment.

Location

The property is located on Market Street (A6053), between Leigh Street and Bank Street, in Farnworth town centre.

Accommodation

Ground Floor: (Retail)	27.30 Sq M (294 Sq Ft)
First Floor: (Flat)	Kitchen, Living Room, Bedroom, Bathroom

Tenure

Unknown

Planning

Interested parties should consult direct with the Local Planning Authority: Bolton Metropolitan Borough Council, Town Hall, Bolton, BL1 1RU. Tel: 01204 333 333.

Tenancy

1. 62 Market Street (Ground Floor Shop) - let as barber shop on a 5 year lease from 1 June 2020 at an initial rent of £4,000 per annum, rising to £4,750 in year 2 and £5,400 in year 3. There is a tenant break option at the third anniversary, subject to 6 months notice.

2. 62a Market Street (First Floor Flat) - let on an Assured Shorthold Tenancy agreement from 7 June 2019 at a rent of £350pcm (£4,200 per annum).

General

1. All the information provided on our website is for indicative purposes only and interested parties should rely upon the contents of the legal pack and their own due diligence as a prudent bidder.

2. The ground floor is entered in the 2017 Rating List as "Shop & Premises" with a Rateable Value of £2,850.

3. The first floor is listed with a Council Tax assessment in Band A.

4. Energy Performance Certificate (62 - shop) = C. Energy Performance Certificate (62a - Flat) = D.

Addendum

The property is held by way of a 999 year lease from 12 May 1834.