AUCTION SALE – CASH OR AUCTION FINANCE WELCOME – COMPLETE IN 28 DAYS

Description

INFORMATION FROM THE AGENT

Auction sale cash or auction finance welcome complete in 28 days

Former Public House with Extensive Living Accommodation & Development Potential | Vacant Possession | Guide Price £180,000

The Lighthouse, 505 Lees Road, Oldham, OL4 5RE

An exciting opportunity to acquire this substantial former public house, occupying a prominent position on the ever-popular Lees Road in Oldham. Offered with vacant possession, The Lighthouse presents a rare chance to restore and reinvent a characterful property with an abundance of potential.
Formerly operating as a traditional public house, the property offers generous accommodation arranged over several floors and would appeal to a wide variety of purchasers. Whether your vision is to return the building to its former hospitality use, create an impressive mixed-use premises, develop alternative commercial ventures or explore residential conversion opportunities, this is a property that rewards imagination. Any alternative use would, of course, be subject to obtaining the necessary planning consents.
Internally, the ground floor comprises two substantial reception areas together with a central bar area and customer toilet facilities, offering versatile open spaces suitable for a range of future uses. Beneath the property is a spacious cellar providing excellent storage and ancillary accommodation.
The first floor reveals surprisingly generous living accommodation, including three large bedrooms, a spacious lounge, a sizeable kitchen with dining space and a well-proportioned family bathroom. The loft area provides further substantial space, presenting additional potential for those wishing to maximise the property's possibilities, subject to any necessary approvals.
The Lighthouse is undoubtedly a refurbishment project, but one with tremendous scope. Buyers seeking a rewarding development opportunity will appreciate both the scale of accommodation on offer and the flexibility this unique property presents.
Ideally situated within the sought-after Lees area of Oldham, the property enjoys easy access to a wealth of local amenities, well-regarded schools and everyday conveniences. Lees village itself retains a strong sense of community and provides a range of independent shops, cafés and services, whilst nearby Saddleworth offers beautiful countryside, scenic walks and an array of popular pubs and restaurants. Oldham town centre is within easy reach, with excellent transport links connecting to Manchester city centre via the Metrolink network and major road routes, making this an attractive location for both commercial and residential occupiers alike.
Tenure is understood to be Leasehold, with approximately 700 years remaining and a low peppercorn-style ground rent. Interested parties are advised to verify these details through their legal representatives.
Properties of this nature and scale rarely come to market, particularly those offering such diverse possibilities. Early enquiry is strongly recommended to fully appreciate the potential that The Lighthouse has to offer.
Please note that certain marketing photographs have been supplied by the seller and were taken following the property's previous refurbishment. The agent has inspected the property in its current condition and additional information and photographs can be made available to interested parties upon request.

Lease hold details, approx start 1887 for 999 - approx 867 years remaining and ground rent last paid in the region of £16.00 old peppercorn style.

INFORMATION FROM THE AUCTION COMPANY
All marketing material, including property descriptions and imagery, has been provided by the introducing agent.
The Auction Company does not verify this information.
Buyers are advised to arrange an in-person viewing (by appointment only) and satisfy themselves as to the condition and legal position of the property before bidding or making an offer.

METHOD OF SALE
This property is offered for sale by Timed Online Auction (Unconditional).
Bidding takes place online via The Auction Company website.
The bidding end date and time are clearly displayed on the listing.

REGISTRATION TO BID OR MAKE AN OFFER
To bid or submit an offer, buyers must:
- Complete online registration
- Pass identity and AML checks (legal requirement)
- Register valid payment details
- A £1,000 hold/shadow payment will be placed on your card.
- By bidding or making an offer, you confirm acceptance of The Auction Company’s Auction Terms & Conditions, Buyer’s Terms, Legal Pack and Special Conditions of Sale.

AUCTION TYPE - TRADITIONAL METHOD OF AUCTION (UNCONDITIONAL)
All bids and offers are legally binding.
Exchange of contracts takes place immediately upon acceptance.
Completion is required within 28 days, unless stated otherwise in the legal pack.
If you are the successful buyer:
- The £1,000 hold payment will be deducted and credited toward the Buyer’s Premium.
- You must pay:
- The 10% deposit (non-refundable)
- Any remaining Buyer’s Premium balance
- All payments must be made within 2 hours of acceptance.
- All remaining balances must be paid by bank transfer only. No card payments are accepted.
- The Buyer’s Premium is 4% + VAT (minimum £5,000 + VAT) and is non-refundable.

PRE-AUCTION & POST-AUCTION OFFERS
The seller may consider offers made before or after the auction.
For clarity:
- All pre-auction and post-auction offers are treated as auction sales.
- The same auction terms, Buyer’s Premium, deposit requirements and completion timescales apply.

LEGAL PACK
Each property is sold subject to a legal pack, which may be updated at any time before the auction.
Buyers must:
- Download and review the legal pack before bidding or making an offer.
- Take independent legal advice if required.
- Check for updates immediately before bidding.
- By bidding or making an offer, you are deemed to have read and accepted the legal pack in full.

SPECIAL CONDITIONS OF SALE
Special Conditions of Sale are set by the seller and are legally binding.
They are contained within the legal pack and override all general auction terms where applicable.

Lease Start Date

01/01/1887

Lease Duration

999 years (860 years unexpired)

Annual Ground Rent

£16