FOR SALE

26 Heath St, Golborne, Warrington, WA3 3AD

INVESTMENT SUMMARY
N  ew 15 year overriding FRI lease from completion L  et to the undoubted covenant of Done Brothers (Cash Betting ) Ltd Recently refurbished  Good vacant possession value of the flats Attractive lot size of 400,000 No VAT Net initial yield of 7.15%  Fixed uplift at first rent review
Golborne town centre is located approximately 6 miles east of St Helens town centre, 6 miles north of Warrington and 20 miles west of Manchester city centre.

LOCATION

SITUATION
The property is located at the junction of Heath St and Worsley St, close to the junction with Golborne High St. The premises are at the end of a parade of shops with occupiers in the immediate vicinity including William Hill, Co-Op Pharmacy and RBS Bank.

VAT
The property is not elected for VAT

TENURE
999 year leasehold interest, subject to a peppercorn

DESCRIPTION
The property comprises a recently refurbished and redeveloped end-terrace. The ground floor is fitted out to a standard Betfred with 4 x 2 bed flats on the upper floors. The property benefits from a rear gated private car park providing 3 car spaces. Ground floor retail First floor 1,705 sq ft 158 sq m

EPC
Available upon request

4 x 2 bed flats

PROPOSAL
I am instructed to seek 400,000 for my clients interest, subject to contract, reflecting a net initial yield of 7.15%, after allowing for usual purchasers costs of 4.8%.

LEASE TERMS
The property will be let on a new 15 year overriding lease from completion. The lease will be drawn on a Full Repairing & Insuring basis subject to 5 yearly, upward only rent reviews. The first review will be the higher of Open Market Value or 2% per annum compound. The commencing rent will be 30,000 per annum. Based on a rental value of 375 per calendar month for each flat, the ground floor retail rent devalues to 12,000 per annum (7 per sq ft)

FURTHER INFORMATION
Robert Goodall Goodall Investments Ltd 47 Newton St Manchester M1 1FT Tel: 0161 236 0866 Mobile: 07775 858113 Email: rob@goodallinvestments.co.uk

COVENANT
For the year ending 27/3/12, Done Brothers (Cash Betting) Ltd, had a turnover of 4.579bn, Pre-tax profits of 14.082m and a Net Worth of 89.253m. Done Brothers (Cash Betting) Ltd were incorporated on 17th September 1976. Betfred is the worlds largest owner operator bookmaker with over 1350 shops. Betfred recently acquired the Tote for 265m.

IMPORTANT INFORMATION: Goodall Investments Ltd and the vendors of this property for whom it acts as agents give notice that these particulars are a general outline only for the guidance of intending purchasers and do not constitute an offer or contract. All descriptions are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statement of fact and must satisfy themselves of their correctness. None of the building services or service installations have been tested. The photographs shown in this brochure show only certain parts and aspects of the property at the time when the photographs were taken.