Property Details

*investment Opportunity* The Property Is Located On The North Side Of The Rock, The Main Pedestrianised High Street In Bury Town Centre. The Property Is Situated Within Close Proximity To The Entrance To The Millgate Shopping Centre And Is On The Busy Pedestrianised Walk-through To The Rock Shopping Centre In A High Footfall Location. Surrounding Occupiers Include Lloyds Bank, Mcdonalds, Tim Horton's, Natwest, Mencap And Scope The Property Comprises A Mid-terraced Office/retail Premises Of Brick Construction Beneath A Part Pitched, Part Flat Roof. The Property Is Currently Single Let To Halifax Bank. Accommodation Is Over Three Floors. On The Ground Floor There Is An Open Plan Sales Area. The First Floor Comprises Office Accommodation With An Open Plan Area And Several Separate Meeting Rooms. On The Second Floor There Are W.c.s, A Staff Room And Cctv And Electrics Room. Lease The Property Is Single Let To Bank Of Scotland Plc (t/a Halifax Bank) On The Following Terms. 10 Years From 17 July 2016 Expiring 16 July 2026. Fri Terms Passing Rent £60,400pa. Please Note The Current Passing Ground Rent Is £8,456pa. Current Net Rent = £51,944pa. Please Note Conversations Have Been Had With Halifax Bank's Agent With Regards To A Possible Extension Which Were Favourable. Tenure The Property Is Held Long Leasehold For A Term Of 125 Years From 1 July 1981 (circa 81 Years Remaining) With A Passing Ground Rent Of £8,456pa. Please Note We Have Consulted With The Freeholder And A Sale Of The Freehold Would Be Considered. Town Centre Investment Premises Single Let To Bank Of Scotland Plc (t/a Halifax Bank) Net Initial Yield 9.38%