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Sold Prior | Lot 50

3 Park Place, Cheetham Hill, Greater Manchester, M4 4EZ

Sold Prior

  • Land
  • Tenure: See Legal Pack

Call the team on 0800 050 1234 for more information

Auction Date

Thu 10/09/2020

Auction Time

14:00

Auction Venue

Online Auction Online Auction,

Investment & Prime Development Opportunity – Suitable for a Variety of Uses (Subject to Planning)

Description An occupied and income producing three-storey plus basement former warehouse, converted c.2009 to provide a mixture of uses including offices, plus rear car park measuring 0.12 acres. Location The property occupies a prominent position in the ever popular Cheetham Hill area of Manchester approximately 0.2 miles from of the city centre. Manchester Arena and Manchester Victoria Railway Station lie approximatley 0.3 miles from the property. Accommodation The Net Internal Area of the property measures approximately: Ground Floor: 2,249 sq ft (208.98 sq m) First Floor: 2,249 sq ft (208.98 sq m) Second Floor: 2,249 sq ft (208.98 sq m) Basement: 2,249 sq ft (208.98 sq m) Total NIA: 8,998 sq ft (836 sq m) The rear car park measures approximatley 0.12 acres (5,300 sq ft) The total site area measures approximately 0.2 acres (8,479 sq ft) Tenancy The property is occupied on the following terms: Basement: Let to a private individual t/a Private Hire Rooms on an FRI Lease from 15/08/2019 to 27/02/2034 at a passing rent of £33,792 per annum. Three-yearly rent reviews. Ground Floor: Let to a private individual for religious activity on an FRI Lease from 01/05/2019 to 30/04/2024 at a passing rent of £14,400 per annum. First Floor: Let to a private individual as studio accommodation on an FRI Lease from 20/09/2019 to 31/01/2024 at a passing rent of £11,604 per annum. Second Floor: Let to a private individual as studio accommodation on an FRI Lease from 01/02/2019 to 31/01/2024 at a passing rent of £7,999.92 per annum. A profit share agreement is also in place with SIP for the rear car park. This generates on average a further £5,333 per annum. Total Income approximately: £73,128 per annum Tenure 3 Park Place – 999 year Lease Car Park – 999 year Lease (please see legal for further information)

Tenure

See Legal Pack

Energy Efficiency Rating (EPC)

Current Rating E

Local Authority

Manchester City Council

Additional Fees

Administration Charge - 1.8% inc VAT of the purchase price payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.