The Old Crow, 163-165 Bell Lane, Bury, Lancashire, BL9 6DF

Lot Image

Auction sale - Monday 13th July 2015

Result:

Sold for £180,000.

  • Freehold commercial investment
  • Let to Malthouse Inns Plc until 2024 (approximately 9 years unexpired)
  • Current rent £28,380 per annum

Addendum

The correct rent currently received is £28,524.43 per annum. There are rent arrears that will not be collected by the Vendor.
The car parking area to the side of the pub and the external toilet block is not included in the sale (please refer to the legal pack).
Please note the property is being sold as a long leasehold for a term of 988 years from 01/05/1772 with a nominal ground rent – please refer to the legal pack.
Completion will be 10 August.

Details

Location

Bury, with a population of approximately 60,718, is located 8 miles north of Manchester, 6 miles east of Bolton and 6 miles west of Rochdale. The town benefits from good road communications, being situated one mile west of the M66 Motorway (Junction 2), which in turn leads to the M62 Motorway, 4 miles to the south. The property is situated just to the east of the town centre on the north side of Bell Lane (B6222), near Chesham Crescent, in a mainly residential area.

Description

The property comprises a two storey public house of traditional construction beneath a pitched slate covered roof. There is a large car parking area to the side of the property.

Tenure

Freehold.

Planning Authority

Bury Council (0161 253 5000) www.bury.gov.uk.

VAT

We are not aware of any VAT liability.

Energy Performance Certificate

For EPC Rating please see website.

Address Tenant Floor Use Sq M Sq Ft Lease terms Rent £ pa
TOTAL 327.95 3,530 £28,380
The Old Crow Malthouse Inns plc Ground & first Public house 327.95 3,530 25 years from 01/09/1999 £28,380

Contact

Seller's solicitor

Penningtons Manches LLP

Chris Grey

020 7457 3089

chris.grey@penningtons.co.uk

* Guide price

The guide price is an indication of the minimum price at which, or if a guide price range is given, within which, the seller is prepared to sell at the date of publication. The guide price is not an anticipated sale price or valuation. All prices quoted are subject to contract.

* Reserve price

The reserve price is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell.

Both the guide and reserve may be subject to change up to and including the day of the auction. The guide price does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price. On the fall of the hammer a buyer’s fee is payable of £990 inclusive of VAT.

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