3-7 Arcade Street

Wigan, WN1 1DE

2,161 sq ft

High return investment in popular area of Wigan Town centre

Summary

Well maintained property
Majority let to 'Envy Lounge Bar'
£27k pa ERV
10.53% NIY (Net Initial Yield)
Popular bar location
Energy efficient 'B' rated building
Wigan Town Centre
Fantastic investment opportunity
Two separate tenants
New key point...

Accommodation

The accommodation comprises the following areas:

Floor/Unit	Description	sq ft	sq m	Availability
Building	Ground Floor - 3 Arcade Street	415	38.55	Under Offer
Building	Ground & First Floor - 5-7 Arcade Street	1,746	162.21	Let
Total		2,161	200.76

Location

The property is well located on Arcade Street in an established leisure area within Wigan town centre. It is within close proximity to the £135m town centre redevelopment project which includes 460+ residential units, hotel, cinema, bowling alley, indoor mini golf, event venues, new market hall and more. All of which should help to add further value to this investment over time.

Wigan is an established and popular leisure and retail location situated some 17 miles north-west of Manchester and 15 miles south of Preston. The town benefits from its proximity to the M6 Motorway (Junction 26) which is 4 miles to the west and to the M61 Motorway (Junction 6) 6 miles to the north-east.

Get directions from Google Maps

Mainline Stations

Wigan Wallgate

2 mins
Wigan North Western

3 mins
Ince (Manchester)

18 mins
Pemberton

37 mins

Underground Station

Chesham

2950 mins
Amersham

2987 mins
Chalfont and Latimer

3014 mins
Chorleywood

3049 mins

Further Information

Rates Payable Upon Enquiry

EPC Rating This property has been graded as B (46)

Description

A rare opportunity has arisen to acquire an income producing commercial investment along the popular Leisure/bar area of Arcade Street in Wigan Town Centre

The property is a substantial two-storey mid terraced premises, with brick elevations beneath a pitched slate roof. The property consists of a former barbers shop to the ground floor of unit 3, which we understand is now under offer at a rent of £7,800pa (£650pcm). The remainder of the property - ground floor 5-7 and first floor 3-7 is let by way of a 5 year FRI lease from 29/11/23 without break options to an independent bar operator t/a 'Envy Lounge Bar'.

Sale

Offers are invited in excess of £250,000 for the Freehold interest.

This equates to a generous net initial yield of 10.53%, once fully let, after allowing purchasers costs of 2.6%