Lot O4 - 195 Eccles Old Road, Salford, Lancashire, M6 8HA

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £150,000

Addendum

Please note the plan published in the Online Particulars of Sale is for illustration purposes only. For clarity Buyers are referred to the title plan contained within the online legal documents.

In the Special Conditions of Sale and the Tenancies Schedule please note the Current Rent for the tenant at 195a Eccles Old Road is £5,076 pa and not as stated.

We understand that the tenant of 195 Eccles Old has agreed to a lease extension subject contract for a term expiring 2nd May 2030 at a rent of £12,000 pa. The lease is subject to a fixed rental increase on 3rd May 2020 to £13,000 pa and a rent review on 3rd May 2025.

Freehold Shop and Residential Investment

  • Comprising a shop and a self-contained maisonette
  • Situated adjacent to Salford Royal Hospital
  • Part let until 2020
  • Total Current Rents Reserved £17,076 p.a.

Tenure

Freehold.

Location

Situated adjacent to Salford Royal Hospital in a local shopping parade on the south side of Eccles Old Road (A576) and close to Junction 2 of the M602.

Description

The property is arranged on basement, ground and two upper floors to provide a ground floor shop with basement ancillary accommodation and a self-contained 2 bedroom maisonette above.

VAT

VAT is applicable to this sale, please refer to the legal documents for further details.

Buyers Fee

Buyers Fee -The successful purchaser will be required to pay the auctioneers administration fee of £600 inclusive of VAT. Other additional costs/fees may apply please see Special Conditions of Sale


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Sold for £211,000

This auction lot is now closed.

Auction Ended

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* Reserve not to exceed:
£150,000
Gross initial yield:
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
195 E M A Abdulwali Ground Floor Gross Frontage 5.60m (18' 4")
Net Frontage 4.40m (14' 5")
Shop Depth 8.50m (27' 11")
Built Depth 13.90m (45' 7")
Basement 37.20 sq m (400 sq ft)
7 years from 03.05.2013
Rent reviews every 3rd year
Repairing and Insuring covenants
£12,000 p.a. (1) Next Review 2019
195A Individual First and Second Floor Maisonette 2 Bedroom Maisonette Periodic Tenancy from 13.12.2014 £5,076 p.a Holding Over
Total £17,076 p.a.
(1) £2,400 surety held
  • * The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price.
  • The Reserve Price will only be disclosed once it has been met during bidding and not before.
  • The term "reserve not to exceed £..." means that the seller's lowest acceptable sale price will not exceed the quoted figure. The reserve price will not be set above this figure. However, it could be set at, or indeed below, the "reserve not to exceed" figure stated.
  • Reserve prices are subject to change up to the date of the auction.
  • At the commencement of marketing a starting price is to be announced. The starting price will be published 24 hours before bidding opens.
  • Lots may be withdrawn prior to auction.