Prominent Part Tenanted Mixed Use Building Producing £55,000 pax – Potential For Ten Storey Landmark Development (STP)
Description Prominent corner building currently part tenanted and producing £47,000 pax increasing to £55,000 pax from December 2021. Tenancies Currently the building is occupied as follows:- 1 Manchester Road – Furniture Showroom – 3 year lease from December 2020 incorporating a break in December 2021 - £15,000 pax 3 Manchester Road – Post Office – 15 year lease from December 2018 incorporating a break in December 2023 - £20,000 pax 1st Floor, Craven Street – Dance Studio – 5 year lease from 2015 (holding over) - £12,000 pax 93 Market Street – Vacant 95 Market Street – Pharmacy – 3 year lease from June 2021 - £8,000 pax ( rent free until December 21) Remainder of upper floors vacant. Total Rent £47,000 pax increasing to £55,000 pax in December 2021. Refer to legal pack for tenancy schedule Location Fronting Manchester Road (A662) at the junction with Market Street in the centre of Droylsden adjacent to the modern Marina Development. Droylsden being approximately 4 miles east of Manchester City Centre with direct connections via road an metrolink. Junction 23 of M60 is approximately 1.5 miles to the east. Planning A pre-application request (reference 20/00036/PREAPP) was submitted in 2020 for a proposed demolition and redevelopment of the site comprising a 10 storey block of 68 residential units (17 x 1 bed & 51 x 2 bed) with ground floor commercial space. The conclusion “…considered this tyo be an appropriate location for a “landmark” building given the wide nature of the junction on which it stands and the connection between the site and other regeneration schemes within central Droylsden, particularly the Marina site…” Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.
See Legal Pack
Manchester City Council
Administration Charge - 1.5% inc VAT of the purchase price, subject to a minimum of £1500 inc VAT, payable on exchange of contracts.
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Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.