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For Sale
Investment, Offices, Bolton, BL1

Churchgate House
Churchgate
Bolton
Manchester - North

BL1 1HL

Reference 2036292

Type Investment, Offices

Tenure Freehold

Size29,017 sq ft (2,696 sq m)

Freehold: £1,450,000

Contact LSH Surveyor

Scott Gemmell
Director - Capital Markets

0161 242 8001

Description

•A high yielding office investment with asset management opportunities.

Located on the edge of Bolton town centre which has been earmarked for £1bn of investment including the nearby Church Wharf.

Comprises a six storey mixed use building extending to 29,018 sq ft.

Five ground floor retail units extending to 6,957 sq ft and 22,061 sq ft of offices.

91% let with 1 vacant office suite (2,500 sq ft)
Rent passing of £194,555 per annum reflecting £6.53 per sq ft overall, with 66% of the income attributed to offices.

Net income of £164,187 per annum.
WAULT 5.40 years to expiry and 2.70 years to break.

Secure allocated on-site car parking for 41 cars - competing office space within town centre severely constrained of car parking.

Asset management opportunities to extend leases and move rents on.

PDR opportunity for upper parts as future alternative use.

Seeking offers of £1,450,000 which reflects a net initial yield of 12.65%, a triple net yield of 10.68% and a low capital value of £49.97 per sq ft.

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