Auction House London

Lot 40

Mixed Use - Commercial Property 

12-14 Shaw Road

Oldham, Lancashire, OL1 3LQ

Sold for an undisclosed amount

A Double Fronted Mixed Use Investment Comprising a Large Double Width Ground Floor Lock-Up Shop with a Six Bedroom Fully Licensed HMO Above. Both Fully Let on Commercial Leases Producing £34,092.56 Net Per Annum Combined

Description

The property comprises a large three storey double fronted mid-terrace building arranged over ground and two upper floors. The property benefits from off street parking to the rear.

Tenure

12-14 Shaw Road
Freehold

Rear of 12-14 Shaw Road
Leasehold. The property is held on a 999 year lease from November 2018 (thus approximately 997 years unexpired).

Current Combined Net Rent Reserved £34,092.56 Per Annum

Location

The property is situated amongst the shops and amenities of Market Street. Nearby multiples include Tesco, Kwikfit, Travis Perkins and other local established traders. Transport links are provided by the Oldham tram and Mills Hill rail station.

Addendum

1. The underlease referred to in the tenancy schedule of the special conditions is undated.

2. There is a tenant only break clause in the underlease. However the actual break dates cannot be confirmed as there is currently an undated version of the underlease available. What we do know as per the underlease is that the break dates are in 2020, 2022 and 2024.

Accommodation & Tenancy Schedule

Property Floor Accommodation Lessee Lease Terms Current
Annual Rent
Notes
12-14 Shaw Road Ground Double Fronted Lock-up Shop Quality Kitchens The property is let on an IRI Lease for a term of 10 years commencing November 2018 £8,000 G.I.A = 77.6 sq m (835.28 sq ft)
Rear of 12-14 Shaw Road Ground
First
Second
Communal Kitchen
Four Letting Rooms with En-suite
Two Letting Rooms with En-suite
Yale Housing Association Ltd Commercial Lease with Yale Housing Association Ltd for a term of 5 years commencing November 2018 £26,092.56 Fully Licensed HMO

Joint Agent

Additional Fees and Disclaimer

Administration charge: £1,200 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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There are no internal viewings For further information, please register for the legal pack. For all enquiries, please contact Jamie Weir at info@auctionhouselondon.co.uk
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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