FOR SALE – Investment Property
**PROMINENT SINGLE STOREY
WITH DIRECT MAIN ROAD FRONTAGE TO BROUGHTON ST AND CHEETHAM HILL RD
WITH ON SITE CAR PARKING AND LOADING FACILITIES **
4,800 sq ft (698 sq m)
The property is very prominently located on the main A665 Cheetham Hill Road at its’ junction with Broughton Street and less than 1 mile to the north of Manchester city centre. Broughton St and Cheetham Hill Rd are regarded as the prime location for wholesale traders in Manchester and this property is at the junction of both!
The area is an established commercial locality which is very popular with the wholesale and cash and carry community, together with an increasing number of other commercial, retail and restaurant users.
Please refer to attached location map.
155-157 Cheetham Hill Road is a prominent single storey warehouse property of steel portal frame construction with full height brick elevation walls, a solid concrete floor and a pitched roof incorporating translucent panels.
The building has been sub-divided into two self-contained showrooms of similar proportion. Each unit has its own dedicated car parking and loading area. Internally, both units are fitted out to a high standard.
Please contact the Sole Agents; Haughton Warburton on 0161 839 0080.
The property extends to a gross internal floor area of 4,800 sq ft and is sub-divided to provide two units of similar proportion.
Units 1 & 2 (front) have a Rateable Value of £15,000 and Units 3 & 4 (rear) have a Rateable Value of £17,250.00 in the current Rating List.
The property is held by way of a long leasehold interest from Manchester City Council. The lease is for 125 years and commenced on 7 April 1997. The ground rent is £3,250.00.
Units 1 & 2 (front unit) is Let to Unique Woman Ltd by way of a 5 year FRI lease commencing 1 August 2017. The passing rental is £35,000 per annum.
Units 3 & 4 (rear unit) is let to True Fashion Ltd by way of a renewed lease for a term of 5 years commencing 1 October 2021 drawn on FRI terms at a rental of £35,000 per annum, exclusive.
We are instructed to offer our clients long leasehold interest at a price of £1.2 million. A purchase at this price would reflect a very attractive gross initial yield of 5.83%.
All mains services are connected.