Land and Buildings, Brownlow Way, Bolton, Lancashire, BL1 3UB

Guide Price* : £55,000

Freehold Ground Rent Investment

  • Freehold Ground Rent Investment
  • Receiving a passing rent of £2,750 per annum, subject to five yearly rent reviews.

Description

The property comprises 3 detached buildings with associated parking and land.
New Covenant Church House comprises a 2 storey detached church with parking area of c. 3,540 sq ft.
Enfield House comprises a 3 storey detached building of 12 apartments with associated car parking.
Former Alldays Store comprises a single storey detached convenience store.

Location

The property is located close to the junction with Tennyson Street and Brownlow Way and is situated in a mixed commercial and residential area.

The property is located approximately 1 mile north-east of the city centre. Bolton is a major retail and commercial centre enjoying easy access via the M61 and M62 motorways, circa 10 miles north of Manchester.

Tenure

Freehold

Tenancy

The property comprises three separate buildings producing a total ground rent income of £2,750 per annum.

Please consult the legal pack and the table below for more information.

Accommodation

Address Tenant Lease Terms Rent £ pa
New Covenant Church House O.A. Adewumi, D.E. Adeshina, A.O Popoola & S.O. Aikomo 99 years from 25th March 2009
5 yearly rent reviews
£2,750
Enfield House Enabling Homes Limited 6th October 2004 - 11th April 2249 Peppercorn
Former Alldays Store R.A. Gill & B.A. Gill 250 years from 12th April 1999 Peppercorn

Bidder AML Requirements

For clarification, before being approved to bid, we require the following from all bidders, the documents must be certified by a solicitor who is a member of the law society and be sent from the certifiers e-mail to brontie@574.co.uk:

• Certified copies of Government issued ID –provided by the certifying solicitor
• Proof of address from within the last three months – provided by the certifying solicitor

The certification must comply with HMRC requirements:
• a statement that the document is “Certified to be a true copy of the original seen by me” and where appropriate, “This is a true likeness of the person” from a person who is competent at document inspection and impostor detection, such as a person from a regulated industry or in a position of trust
• an official stamp of the person certifying and indication of professional status
• been signed and dated with a printed name
• the occupation and address or telephone number

If bidding as a company we will require confirmation of the company name and number and documentation from all persons with significant control.

Contact

Vendor's solicitor

The Wilkes Partnership LLP
Neil Holden
0121 710 5853
nholden@wilkes.co.uk

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £990 inclusive of VAT on purchases of £20,000 and above and £240 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.

The auction has not yet started
Minimum Opening Bid

£45,000


Bidding Opens On
13th Nov 2019 12:00
End Date

Connecting to server...

The successful purchaser will be required to pay the auctioneers administration fee of £990 inclusive of VAT on purchases of £20,000 and above and £240 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.


Office Contact

Max Mason
020 7198 2051

Vendors Solicitor

Neil Holden
0121 710 5853

Legal Documents

Log in to view legal documents

Agreement Documents


Subject to Contract and Exclusive of VAT © Lambert Smith Hampton November 2019

Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any ("LSH") for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.