retail investment opportunity with vacant · pdf file2,351 sq m (25,307 sq ft). freehold. ......

RETAIL INVESTMENT OPPORTUNITY WITH VACANT UPPER FLOORSOLD CO-OP BUILDINGS // BRIDGEWATER ROAD

AND HIGH STREET // WALKDEN // M28 3JE

INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION TENANCY FURTHER INFORMATION

Retail parade with vacant upper floors.

Asset management opportunities.

2,351 sq m (25,307 sq ft).

Freehold.

£125,000 per annum.

Offers of £1,650,000 One Million Six Hundred and Fifty Thousand Pounds

Upper floors: £40 psf.

Retail: 9.7%.

INVESTMENT SUMMARY

A PRIME INVESTMENT OPPORTUNITYOLD CO-OP BUILDINGS // BRIDGEWATER ROAD AND HIGH STREET // WALKDEN // M28 3JE

RETAIL INVESTMENT OPPORTUNITY WITH VACANT UPPER FLOORSOLD CO-OP BUILDINGS // BRIDGEWATER ROAD AND HIGH STREET // WALKDEN // M28 3JE

INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION TENANCY FURTHER INFORMATION

LOCATION

Walkden is located 9.7 km (6 miles) north west of Salford, and 11.3 km (7 miles) north west of Manchester, and can be accessed from Junction 14 of the M60 Motorway and A580 East Lancashire Road, as well as from Walkden Railway Station.

M61

M61

A666

A6 HIGH STREET

A6 MANCHESTER ROAD

WA

LKD

EN R

D

ASHTON

FIELD DRIVE

BRA CKLEY ST

HILL TO P ROAD MO SS LAN E E A ST

W

OR

SLE

Y R

D N

OR

TH

HIRST AVE

A 50 8 2 BUCKLEY LA NE

LO NG CA USEW AY

BO LTON R OA D

Walkden Station

Walkden

BRIDGEW

ATER

ROAD

MEM

ORIAL ROAD

SHARP STREET

HOP

EFOL

D D

RIVE

HOLYOAKE ROAD

Jct 3

WESTMINSTER RD

A575 BOLTON ROAD

WO

RSL

EY R

D N

TH

SOUTHERN ST

1021A

121

151

41

M56

M6

M66

M602

2

M62

11

10

4

5

6

9

9

910

11

16

14

1719

19

20

20

21

21

22

20

21

22

23

24

25

8

8

7

7

6

65

54

3 3

3

3

3

3

2

2 2

27 2625

24

23

Bury

A6

A5 8

A5103

A580

A58

A579A56

A57

A34

A6010

A580

A576

A663

A627

M62A56

A58

A666A676

A58

M61

M60

Wigan

Bolton

Radcliff Middleton

Rochdale

Altrincham

Walkden

Warrington

Manchester

e


LOCATION SITUATION DESCRIPTION TENANCY FURTHER INFORMATION

SITUATION

The property is prominently situated at the junction of High Street (A6) and Bridgewater Road. The property is a short walk from Walkden Railway Station. Directly opposite the property is the Ellesmere Shopping Centre with occupiers such as Tesco, B&M Bargains, Pets at Home, Costa Coffee and McDonalds.

INVESTMENT SUMMARY


The property is constructed with traditional brick elevations, with sandstone features, and a slate tiled main roof.

The property is arranged over ground, first and second floors.The ground floor comprises a number of retail units with fully glazed frontages and rear loading. The upper floors can be made fully vacant and are accessed via a central staircase from High Street.

The vendor has recently completed a maintenance program, at a cost of £250,000 on the property to include the following:


DESCRIPTION

INVESTMENT SUMMARY

New Shop Fronts

New Internal Security Shutters

Replacement suspended ceilings

Replacement floor screeds as required

Re-decoration

Upgraded electrics



The property is let in accordance with the tenancy information below and currently produces £125,000 per annum.

* Mutual break on 2 months notice

TENANCY INFORMATION

ASSET MANAGEMENT OPPORTUNITIES

UNIT 1

UNIT 2

4,521

958

£33,907.50

£14,370.00

ADDRESS

Forces Support Limited

Edward William May (t/a Hug in a Mug)

TENANT SQ FT ERV PA

£4.42

£12.53

RENT PSF

£20,000

£12,000

RENT PA

28/07/2018

25/03/2018

NEXT REVIEW

25/03/2018

BREAK

27/07/2028

24/03/2020

EXPIRY

28/07/2016

25/03/2015

LEASE START

12 YEARS

5 YEARS

TERM

TENUREFreehold

INVESTMENT SUMMARY

£7.50

£15.00

UNIT 3 872 £13,080.00The Sell and Buy Store.com Ltd

£13.76£12,000- 19/04/201820/04/2015 3 YEARS £15.00

UNIT 5 1,432 £17,184.00Susan Batchelor & Jill (t/a Abbott & Co Solicitors)

£10.47£15,00001/08/2020 31/07/202001/08/2005 15 YEARS £12.00

UNIT 6 592 £12,000.00Aras Mustafa Ismael (t/a The Proper Barbers)

£20.27£12,00015/08/2020 15/08/202615/08/2017 9 YEARS £20.27

UNIT 7 1,281 £15,372.00Countrywide Estate Agents (t/a Bridgfords)

£11.32£14,50004/09/2018 03/09/202304/09/2008 15 YEARS £12.00

UNIT 8 538 £10,760.00Faycal Zemourit (t/a Mario's Pizza)

£18.59£10,00024/06/201924/06/202223/06/202824/06/2016 12 YEARS £20.00

UNIT 9 990 £14,850.00Christos Zacharias (t/a Tattoo Studio)

£10.10£10,00011/01/2018 10/01/202111/01/2015 6 YEARS £15.00

UNIT 4 1,518 £18,216.00All Grown Up Limited £8.89£13,50001/07/2020 30/06/202301/07/2017 6 YEARS £12.00

UNIT 12A

UNIT 12B

4,650

7,955

£16,275.00

£27,842.50

Colin Needham*

Vacant

£1.29

£6,000

-

-

01/10/2018

02/10/2017

1 YEAR

£3.50

£3.50

TOTAL 25,307 £193,857 £125,000

ERV PSF

Ongoing management of retail element i.e rent reviews, re-gears etc

Conversion of upper floors to alternative use (subject to planning)

Disposal of upper floors



PRICING

We are seeking offers of £1,650,000 One Million Six Hundred and Fifty Thousand Pounds for our clients interest in the property. Placing all of the upper floor accommodation at £40 per sq ft, the retail element will show a net initial yield of 9.7%, assuming purchasers costs of 6.16%.

INVESTMENT SUMMARY

FURTHER INFORMATIONFor further information, or to arrange an inspection please contact:

VATThe property is VAT elected and therefore VAT will be payable on the purchase price. It is anticipated that the transaction can be treated as a Transfer Of a Going Concern (TOGC).

EPCFurther information can be provided upon request. GARY SCORAH

[email protected] 703 835

Commercial Propoerties Ltd give notice to anyone who may read these particulars as follows: 1.These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4 The photographs appearing in this brochure show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact. Published October 2017, photography taken September 2017.

0161 387 7252


retail investment opportunity with vacant · pdf file2,351 sq m (25,307 sq ft). freehold. ......

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