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Fully Let Parade of Four Retail Units with Two Flats Above Producing £37,800 pa Increasing to £39,000 pa
Recently converted detached parade comprising four ground floor retail units and two first floor flats (1 x one bed, 1 x two bed). The property is currently full tenanted as follows:- Retail Units Unit 1 Barber / Hairdressers - 5 year lease from January 2019, current rental £4,800 pa, increasing to £5,000 pa in January 2020 and £6,000 January 2021. The lease also incorporates a rent review after the third year and a tenant break clause after year one. Unit 2 - Cafe - Five year lease from June 2018 - current rental £7,000 pa, rent review at end of year 2 and tenant break after the first year. Unit 3 - Vape/E-cig shop - by way of five year lease from April 2019 at a rental of £10,000 pa, lease incorporates a rent review after the second year. Unit 4 - Tanning Salon - one year lease from January 2019 at a rental of £5,200 pa, Flats are both let on AST's at £450 pcm. Total rental income is therefore currently £37,800 pa which increases to £39,000 pa. Externally there is a surfaced car parking area to the side, considered suitable for approximately 6 vehicles. The property is situated on the easterly side of Culcheth Lane, approx, 4 miles east of Manchester City Centre.
Tenure
See Legal Pack
Energy Efficiency Rating (EPC)
Current Rating C, C, D, C, C, C
Local Authority
Manchester City Council
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Buyer's Premium - £900 inc VAT payable on exchange of contracts.
Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.