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High Yielding, Well-Secured Retail Investment

2-10 Market Street & 1-5 Hotel Street, Bolton, BL1 1BU
for sale Clicktopurshase Icon Private Treaty
£ 475,000 Subject to contract

Location

Bolton is a major regional centre in the North West of England within the Greater Manchester conurbation. The town is approximately 12 miles (19.3 km) to the north west of Manchester city centre, 19 miles (30.5 km) north east of Warrington and 21 miles (33.8 km) south east of Preston.

The town benefits from excellent road communications and is situated between the M61 to the west, M66 to the east and M65 to the north (via the A666). The M61 ad M66 in turn provide access to Junctions 14 and 18 to the M60 motorway.

There is a regular and direct rail service between Bolton and Manchester Victoria with an approximate journey time of 25 minutes. London Euston can be accessed via Wigan or Manchester Piccadilly with a fastest journey time of approximately 2 hours and 30 minutes.

Manchester International Airport is approximately 21 miles (33.8 km) to the south east.

With a population of 300,000, and a total of one million people living within just 45 minutes, Bolton has the second highest employee base in Greater Manchester and £4.6bn of economic output each year.  The University of Greater Manchester (formerly the University of Bolton) has approximately 11,000 students.

Retail in Bolton is focused around the axis formed by Deansgate, Knowsley Street, Newport Street and Churchgate, a large proportion of which is pedestrianised. Deansgate, Oxford Street, Newport Street, Market Place and Market Street are the busiest parades in the town.

Bolton Town Centre Regeneration

Bolton town centre is undergoing a period of major regeneration, with significant investment transforming the area into a vibrant destination for business, leisure, and community life. Multi-million-pound projects are revitalising key sites, creating modern workspaces, improved retail and hospitality offerings, and enhanced public spaces designed to attract footfall and boost the local economy. Listed below are some of the larger scale initiatives:

Crompton Place Shopping Centre Redevelopment – see Situation section below.

Central Street – The Central Street project represents a major brownfield regeneration scheme in the heart of Bolton Town Centre.  The residential-led, mixed-use development will deliver 158 new homes and ground floor commercial units, centred around a new public square and revitalised river corridor.

Church Wharf – The £75m town centre construction project will include a hotel and more than 400 new homes delivered in stages over a four-year period. An independent economic impact assessment has projected that this will result in the creation of 1,500 jobs and add £64m gross value to the Bolton economy.

Trinity Quarter – The Bolton Trinity development is situated next to Bolton’s £48m transport interchange and will introduce a mix of residential, office and other developments including a multi-storey car park, hotel and commercial use over a series of carefully planned phases.

Cheadle Square – A historic public space in the heart of Bolton Town Centre has been officially reopened following the completion of a major £40m housing-led regeneration project. Developed jointly by Bolton at Home, Step Places, and Bolton Council, Neighbourhood Moor Lane has regenerated the former bus station site with 214 new homes, which were completed in December 2024. The revitalised square – which helps to link Bolton Market with the rest of the town centre – features new landscaping, tree and shrub planting, and benches, offering a space for people to stop, rest, and socialise.

Wellsprings – a £7.3m ‘innovation hub’, opposite the town hall, has opened its doors to the business community. The refurbishment began in July last year, backed by £6.9m from the Towns Fund and a further £1.4m from the UK Shared Prosperity Fund.

Summary

  • Freehold retail investment
  • Located in an area of significant regeneration
  • Let to Sportswift Limited (t/a Card Factory)
  • Highly secure income – Pre-Tax Profits £73 million
  • Lease renewal from August 2025
  • Tenant has been in occupation since 2013
  • Rebased rent – £45,000 per annum
  • Potential future redevelopment of the upper parts, subject to planning
  • £475,000, subject to contract
  • 9.0% Net Initial Yield

Situation

The property occupies a highly prominent corner position in the heart of the town centre fronting the pedestrianised Market Street at its junction with Hotel Street. Other nearby occupiers include Lloyds, EE, McDonalds, Vodafone, 02 and Boots.

The property is located adjacent to the former Crompton Place shopping centre.  The site was purchased by Bolton Council as part of its town centre regeneration masterplan and is one of Britain’s biggest inner town centre development spaces. The demolition of the shopping centre has been approved and talks with at least three potential developers have commenced. The project will deliver a vibrant, residential-led mixed use development including hotel, office and commercial space. Several ‘meanwhile uses’ will be introduced for the period between demolition and full redevelopment, to ensure that activity levels in the area are maintained throughout the redevelopment of the site.  Uses could include spaces for outdoor events and relaxation, performances, sports screens, markets or modular ‘pop up’ food and drink areas.  In addition, plans have been approved to create an east-west pedestrian route between Victoria Square and Bradshawgate, directly linking the two for the first time in decades.

The property is also 150 metres from the Market Place Shopping Centre which is occupied by a wide range of businesses including H&M, Primark, Next, Pandora, Boots, JD Sports, River Island, Vision Express, Clarks and Hotel Chocolat.

Bolton Interchange, combining Bolton railway station and Bolton bus station, is a few minutes’ walk to the south.

Description

The property comprises a three-storey retail unit with a return frontage. The ground floor provides predominantly open-plan retail space with staff and storage accommodation on the first and second floors. There is ancillary accommodation in the basement.

Internally, the unit has been fitted out by the tenant to their usual corporate style.

Accommodation

We have been advised that the property provides the following Net Internal floor areas:

Ground Floor192.03 sq m2,067 sq ft
ITZA122.63 sq m1,320 sq ft
First Floor143.07 sq m1,540 sq ft
Second Floor57.23 sq m616 sq ft
Total514.96 sq m5,543 sq ft

EPC

The property has an EPC rating of ‘C’ which is valid until 8th July 2035.

Tenure

Freehold.

Tenancy

The entire property is let to Sportswift Limited (t/a Card Factory) on a full repairing and insuring lease for a term of 5 years from 18th August 2025, expiring on 17th August 2030. There is a tenant break option on 17th August 2028, subject to six months’ notice.

We understand the tenant has been in occupation since 2013 and entered into a lease renewal in August 2025, demonstrating their commitment to this location. The rent was re-based from £60,000 per annum to the current passing rent of £45,000 per annum.

Covenant

Sportswift Limited (Co. No 3493972) has reported the following figures:

Year Ending31st January 202531st January 2024
Revenue£507,769,000£483,251,000
Pre-Tax Profits£72,957,000£68,568,000
Net Assets£71,490,000£163,364,000

UK Store sales of £493.8 million increased by £25.6 million or +5.5% compared to the prior year, with like-for-like sales of +3.3%.

Sportswift Limited, trading as Card Factory, is the UK’s leading specialist retailer of greeting cards, dressings and gifts with an estate of over 1,000 stores across UK and Ireland, their website www.cardfactory.co.uk and supply through franchise stores and partner stores mainly in the UK and Australia. The company is part of the Card Factory plc Group.

VAT

The property has been registered for VAT.  It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

Proposal

We are instructed to seek a figure of £475,000 (Four Hundred and Seventy-Five Thousand Pounds), subject to contract, reflecting a net initial yield of 9.0%, assuming purchasers’ costs of 4.59%.  

Please note that a purchaser will be re-charged the costs of the searches (£1,977.02) which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of 1% of the Purchase Price plus VAT.

Investment Considerations

  1. An opportunity to acquire a freehold retail investment;

  2. The property is situated in an area of significant regeneration, immediately adjacent to the former Crompton Place Shopping Centre redevelopment site, one of Britain’s largest inner town centre development spaces;

  3. Highly secure income – let to Sportswift Limited (Pre-Tax Profits £73m);

  4. Lease renewal from August 2025;

  5. Rebased rent;

  6. Future redevelopment potential of the upper parts, subject to planning;

  7. A purchase at the asking price reflects an attractive net initial yield;

  8. Attractive lot size to an investor;

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Singer Vielle
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Dale Henry
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Neil Singer
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neil@singervielle.co.uk
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Brabners
+44 (0) 161 836 8800
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+44 (0) 151 600 3202
Bee.Gebhardt@brabners.com
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