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For Sale By Auction | 14:00, 06 February 2020 | Lot 13

The Pink Eye Building, Fairclough Mill, Athertons Quay, Warrington, Cheshire, WA5 1AH

Sold £320,000

  • Commercial Property
  • Tenure: See Legal Pack

Call the team on 0800 050 1234 for more information

Auction Date

Thu 06/02/2020

Auction Time

14:00

Auction Venue

University of Bolton Stadium Platinum Suite, De Havilland Way, Bolton, BL6 6SF

Multi-Let Investment Currently Producing £55,141.14 per annum

Prominent multi-tenanted landmark building, currently producing £55,141.14 pa. The building briefly comprises 6 no ground and first floor/mezzanine industrial units, together with void upper parts with the roof areas being used for telecommunications masts and aerials, plus additional income by way of 3x advertising hoardings. The property offers asset management opportunities to in increase the rental income and also add to the rental income streams. The property is prominently situated approximately ¼ mile west of Warrington town centre, overlooking the roundabout junction of the A57 and A5061 with Lidl supermarket and KFC restaurant immediately adjacent. The rear of the property backs directly on to the River Mersey. A purchase at the guide price equates to a net yield of in excess of 15%

Tenure

See Legal Pack

The income is as follows:-

Unit 1 - 822 sq ft - Licence Agreement - £330 pcm - £3,960 pa Unit 2 - 662 sq ft - Licence Agreement - £330 pcm - £3,960 pa Unit 3 - 662 sq ft - Licence Agreement - £330 pcm - £3,960 pa Unit 4 - 822 sq ft - Licence Agreement - £330 pcm - £3,960 pa Unit 5 - 662 sq ft - Licence Agreement - £330 pcm - £3,960 pa Unit 6 - 822 sq ft - Licence Agreement - £330 pcm - £3,960 pa Telecomms lease agreements as follows: Metronet UK Limited - 15 year lease from November 2013 @ £4,000pa Cornerstone Telecommunications Infrastructure Limited - 25 year lease from July 2016 @ £5,000pa Internexus Networks Limited - 10 year lease from June 2016 @ £4,000pa EE Limited and Hutchinson 3G UK Limited / Arqiva Limited - 25 year lease, believed to be from November 2012 (lease contained in legal pack for clarification) @ £10,581.14pa In addition there are 3 x advertising hoardings on the upper elevations all let by way of verbal agreements at £50 per week (£2,600pa each). Total rental income is £55,141.14pa

Energy Efficiency Rating (EPC)

Current Rating To Follow

Local Authority

Warrington Borough Council

Additional Fees

Buyer's Premium - £900 inc VAT payable on exchange of contracts.

Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.