For Sale By Auction | 14:00, 05 September 2019

77 Culcheth Lane, Newton Heath, Manchester, Greater Manchester, M40 1LY

*Guide | £295,000 (plus fees)

  • Commercial Property
  • Tenure: See Legal Pack

Call the team on 0800 050 1234 for more information

Auction Date

Thu 05/09/2019

Auction Time

14:00

Auction Venue

Bolton Wanderers Stadium Platinum Suite, De Havilland Way, Bolton, BL6 6SF

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

Additional Fees

Buyer's Premium - £900 inc VAT payable on exchange of contracts.

Administration Charge - 0.9% inc VAT of the purchase price, subject to a minimum of £1080 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.