Size: 2,525 Sq Ft (234.57 Sq M)
For Sale
Property Details
For Sale: £295,000 Offers In The Region Of
Key Features
High yielding Town Centre retail investment in prime location
Longstanding Tenant occupying premises for 20 + years
Let to undoubted covenant of Done Brothers (Cash Betting) Limited producing £30,000 per annum
5 year lease was entered into on 15th September 2023
Located 150 metres from Wigan Wallgate & Wigan North Western train stations on pedestrianised section
Nearby occupiers include Wetherspoons, TUI, Barclays Bank & Lloyds Bank
Short walking distance of Grand Arcade Shopping Centre
Attractive Grade II Listed building
Held Freehold under Title Number GM914982
Upper floors sold on Long Lease (150 years at Peppercorn Rental) OIRO £295,000, generating an attractive NIY of 9.85% (assuming standard Purchaser's costs)
Description
The property features a prime, high yielding town centre retail investment, prominently located at the central square of Wigan.
Arranged over ground, first, and second floors, the property is an attractive, Grade II Listed premises, which includes an extensive, double-fronted retail unit on the ground level, while the upper floors have previously been sold off on a long leasehold basis.
The ground floor is let to Done Brothers (Cash Betting) Limited, T/a Betfred, under a lease that expires on September 14, 2028, at a rental of £30,000 per annum. The tenant has a long history at this location, having originally occupied in 2002, and has recently reaffirmed their commitment by signing a new five-year lease in September 2023.
The property enjoys a prominent corner location with visibility on Wigan Market Place, a pedestrian-friendly square that serves as a hub for the main retail streets in Wigan. It is situated directly across from The Moon Under Water Wetherspoons pub, with the Makinson Arcade shopping centre located just to the north. Nearby businesses include Ladbrokes, Barclays, Greggs, and JD Sports as well at the Grand Arcade Shopping Centre.
Location
The property is situated in the heart of Wigan Town Centre, at the intersection of Wallgate, Market Place, and Library Street. The premises enjoys a prominent location within the main retail core, adjacent to All Saints Church and the Wigan Cenotaph and in close proximity to Grande Arcade Shopping Centre. Nearby occupiers include Wetherspoons Public House, TUI, Subway, Lloyds Bank and Barclays Bank.
Both Wigan Wallgate and Wigan North Western train stations are within a short walking distance of the property.