The Workers, Market Street, Whitworth, Rochdale, Lancashire, OL12 8PW

Lot Image

Auction sale - Monday 13th July 2015

Result:

Sold for £190,000.

  • Freehold public house investment
  • Let to Malthouse Inns Plc until 2025 (approximately 10 years unexpired)
  • Current rent £28,380 per annum

Addendum

The correct rent currently received is £27,061.88 per annum. There are rent arrears that will not be collected by the Vendor.
There is no residential accommodation upstairs, but instead is used as a function room.
Please note the property is being sold as a long leasehold for a term of 980 years from 01/05/1882 with a nominal ground rent – please refer to the legal pack.
Completion will be 10 August.

Details

Location

The established market town of Rochdale, with a catchment population of 126,000, lies approximately 14 miles north of Manchester and 35 miles south-west of Leeds. The town benefits from having excellent road communications, with access to junction 20 of the M62 motorway via the A627(M), about 3 miles to the south. The property is located in Whitworth, a small village 12 miles north of Rochdale. It occupies a prominent position on the corner with Albert Street.

Description

The property comprises a substantial two storey building totalling 4,919 sq ft (466.99 sq m) arranged as a ground floor bar with residential accommodation above.

Tenure

Freehold.

Planning Authority

Rochdale Borough Council (0300 303 8873) www.rochdale.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 456.99 4,919 £28,380
The Workers Malthouse Inns plc Ground First Mens Club Residential 456.99 4,919 25 years from 17/01/2000 £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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