UNDER OFFER – VERY PROMINENT TWO STOREY RESTAURANT/RETAIL WAREHOUSE INVESTMENT WITH
DIRECT MAIN ROAD FRONTAGE TO CHEETHAM HILL RD/ELIZABETH ST
**DIRECTLY OPPOSITE “THE FORT” RETAIL PARK**
15,120 sq ft (1,405 sq m)
IN 0.65 ACRES
The property is very prominently located on the main A665 Cheetham Hill Road at its’ junction with Elizabeth Street and less than 1 mile to the north of Manchester city centre. Situated directly opposite “the Fort” retail park (Boots, Marks & Spencer, Halfords, etc) on Cheetham Hill Rd and also directly opposite Currys PC World, B & M Traders and Lidl over Elizabeth St. This site is one of the best retail positions in the whole of Manchester.
Please refer to attached location map.
175 Cheetham Hill Rd is a two-storey building set within a site of approximately 0.65 acres. Originally built as a cash and carry the building has recently been extensively refurbished to provide a superb and fully fitted out restaurant/banqueting venue. Externally, there is parking for more than 30 cars with access from Bent St to the rear.
Please contact the Sole Agents; Haughton Warburton on 0161 839 0080.
Site Area and Floor Area
0.65 acres or thereabouts.
The property extends to a gross internal floor area of 15,120 sq ft (1,405 sq.m) split equall;y between the ground and 1st floor.
The property has a Rateable Value of £129,000 in the current Rating List.
The property is held by way of a long leashold interest from Manchester City Council. The lease is for 125 years and commenced on 6 November 1995. There is a ground rent payable of £20,500 per annum, which is subject to a review every 25 years. The next review is in 2023.
The property is let to Sakura Love Ltd (Company Reg Number: 11670816) for a term of 10 years on FRI terms commencing 1 December 2018. There is a rent review on 7 December 2025. The current passing rental is £180,000 per annum, exclusive.
We are instructed to offer our clients long leasehold interest at a price of £2.5 million. A purchase at this price would reflect a very attractive gross initial yield of 6.4% (net of the ground rent payable).
All rents and prices are quoted exclusive of, but may be liable to VAT at the prevailing rate.