Commercial Investment

Lot 12 Commercial Investment By order of Executors 6 Week Completion Situation Occupying a prominent trading position on the main retail thoroughfare leading into Market Street, opposite a public car park and close to branches of Co-op Funeralcare and Subway and some 100 yards from Boots, Ladbrokes and Betfred . Darwen is located on the main A666 Bolton to Blackburn route approximately 17 miles north of Manchester City Centre. Property A mid-terraced building comprising a Large Ground Floor Banking Hall with Basement Storage plus internal access to Ancillary Accommodation at first and second floor levels. Accommodation Ground Floor Banking Hall Gross Frontage 31'8" Built Depth 65'4" Banking Hall Area Approx. 1,780 sq ft Basement Ancillary Storage Area Approx 1,000 sq ft First Floor Ancillary Office/Storage Area Approx. 1,025 sq ft Second Floor Ancillary Storage Area Approx. 485 sq ft Total Area Approx. 4,290 sq ft VAT is NOT applicable to this Lot Tenure Held on 2 Long Leaseholds each for 1,000 years from 1823 and 1824 at a total fixed ground rent of £11.97 p.a. which has not been demanded for very many years. Tenancy The entire property is let on a full repairing and insuring lease to Lloyds Bank Plc (having approx. 1,100 branches) (T/O for Y/E 31/12/20 £18.5bn, Pre-Tax Profit £1.32bn and Shareholders' Funds £41.04bn) for a term of 10 years from 22nd February 2012 at a current rent of £17,500 per annum exclusive. Note 1: The tenants have informed the Vendor that they are closing the branch on 8th February 2022 which would provide the buyer with the opportunity of a possible dilapidations settlement. Note 2: There may be potential to convert the upper floors into residential use, subject to planning.