54-58 King Street, Wigan, Lancashire WN1 1BT

A substantial commercial property occupying a prominent position on King Street, within Wigan town centre’s main leisure circuit, extending to approximately 2,029 sq m (21,840 sq ft). The property will generate a rental income of £60,000 per annum, with significant potential for further income generation through the occupation and utilisation of the majority vacant accommodation.

The property is arranged over basement, ground, first and second floors, incorporating Baby Platinum, an established gentleman’s club, together with former bar premises which last traded as Sash Lounge.

ABA Leisure (Two) Ltd t/a Baby Platinum occupies the rear of the ground floor, extending to approximately 452 sq m (4,865 sq ft). The business has traded from the property for 12 years. Upon completion of the sale, the tenant will be granted a new 15-year lease without a break clause at a rent of £60,000 per annum, together with a £30,000 rent deposit payable on completion.

The vacant former bar premises are arranged over the front of the ground floor, first floor and basement, extending to approximately 1,450 sq m (15,608 sq ft). The accommodation provides a substantial floor area ready for occupation, with the premises benefiting from a licence permitting trading until 6.00 am daily.

The second floor comprises ancillary accommodation, including office space and living accommodation, offering further potential to utilise the building’s extensive floor area.

The property occupies a prominent position on King Street, within the heart of Wigan town centre’s main leisure circuit. The location benefits from being within a short walking distance of both Wigan North Western and Wigan Wallgate railway stations, together with the town centre’s extensive range of retail, leisure and commercial amenities, including its established nightlife offering.

For any pre-application advice, interested parties should consult directly with the Local Planning Authority: Wigan Metropolitan Borough Council, Town Hall, Library Street, Wigan, Lancashire, WN1 1YN. Telephone: 01942 489004. Email: [email protected].

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non-refundable auctioneers fees apply, and are payable immediately upon exchange of contracts:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 1.8% inc. VAT of the purchase price (subject to a minimum of £2,400 inc. VAT)

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.