Lot
063
Auction: March 2023 Online Auction 22/03/2023 - Bidding opens Tuesday 21st March 10:00 AM

57-59 Library Street, Wigan, Lancashire WN1 1NU

Property Details
Location
Description
A multi-let town centre commercial investment arranged over ground, first, second and third floors and extending to approximately 225.9 Sq M (2,423 Sq Ft). The property is let to three tenants and producing a combined income of £28,000 per annum.
Location
The property fronts Library Street, opposite Wigan Town Hall and Wigan Life Centre, in the centre of the town. Wigan Northwester and Wigan Wallgate Stations are both within close proximity. Junction 26 of the M6 motorway is located approximately 3 miles to the west.
Outside
There is a yard area to the rear.
Approx Site Area
Approximately 129 Sq M (154 Sq Yds).
Tenure
We understand the property is held freehold.
Planning
Interested parties should consult direct with the Local Planning Authority: Wigan Council, Wigan Life Centre, The Wiend, Wigan, WN1 1NH. Telephone: 01942 489 144. Email:[email protected]
Tenancy
57 Library Street (ground floor only) has been let by way of a 99 year lease from 2007 at a ground rent of £125 per annum. The tenant also pays a 35% per annum contribution towards building insurance.

59 Library Street is let to Marketing Print Ltd by way of a 5 year lease from 27 September 2021 at a rent of £10,000 per annum.

57a Library Street (1st & 2nd Floors) is let to EDS Homes Ltd by way of a 5 year lease from 1 February 2019 at a rent of £12,000 per annum.

57a Library Street (3rd Floor) is let to HS Projects Northwest Ltd by way of a 4 year lease from 18 March 2019 at a rent of £6,000 per annum.
Costs
Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
General
1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 21ST MARCH AND CLOSES ON WEDNESDAY 22ND MARCH.

3. The property is entered in the 2017 Rating List as follows:

59 Library Street: "Shop & Premises" - Rateable Value £8,200
First Floor 57a Library Street: "Offices & Premises" - Rateable Value £2,425
Second & Third Floor 57a Library Street: "Offices & Premises" - Rateable Value £5,000

The Rateable Value (RV) is not the amount payable.

4. Energy Performance Certificate = E.

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