A PRIME Barrow town centre premises is being sold at auction with a guide price of more than £2.5m.

The building currently occupied by Wilkos, in Duke Street, Barrow, is being marketed by commercial property specialists Acuitus after a receiver was appointed to recoup the mortgage lender's investment.

A Joint Law of Property Act receiver is appointed when a lender, in most circumstances a bank, has reached the decision to take a property under its control when a mortgage is due in order to sell it and protect its investment.


The premises occupied by Wilkos is being sold by Acuitus Wilkos is a tenant of the property, and its lease is set to run until 2030. The sale of the property will not affect the retail business.

The annual rental income on the premises is £242,256, and is due to rise to more than £260,000 by 2020, and then to £295,000 by 2025.

In the listing, the property is described as "a substantial, purpose-built retail unit which provides ground and first-floor retail accommodation with ancillary accommodation on the second floor".

The auction is due to take place tomorrow, March 30.