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.
See Legal Pack
Energy Efficiency Rating (EPC)
Current Rating C, C, D, C, C, C
Manchester City Council
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.