Commercial Property Investment Available In Stockport | | Stockport Manchester | | • Extensive external car parking • Let to Electricity North West Ltd • High yielding investment • Profit rent of £45,000 per annum | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 72994
ADVERT IMPRESSIONS : 6,486 TIME(S) | | | | BUSINESS SECTOR: | Commercial Property | | TRADE TYPE: | Investment Properties | | SALE: | Agent Sale | ASKING PRICE: | £275000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | LOCATION
The property is located to the north east of the Stockport town centre close to the Tiviot Way junction of the M60 and to the east of St Mary’s Way (A626) in a commercial property area.
There is a large retail park off Great Portwood Street located to the western side of the property and also a number of car dealerships in the area. The property has direct access off Borron Street, which is accessible from Mersey Street. Immediately to the south of the property on the opposite side of Mersey Street is the landmark Vernon Mill. Please see attached location and site plan.
DESCRIPTION & CONSTRUCTION
The property comprises an industrial complex with a high office content. There are two buildings within the site, the main one positioned centrally and a smaller purely industrial building lying to the north east corner. The site is a low density development which provides ample car parking and outside storage space.
The main building is irregular in shape but has been sub-divided into numerous areas and used for offices, workshop and storage. Elevations are of brick although part have been over clad with profile steel sheeting and the office space is generally finished with plastered and painted walls. The industrial elements of the building are served by roller shutters and generally painted concrete internal floors, minimum headroom is 4 metres.
Externally, the majority of the exposed area of the site is tarmacadam surface car parking with the remainder being concrete surfaced. Two areas on the rear side of the site are used for separate storage compounds and the entire site is bounded by a chain link fence with two sets of double gates, one of which is presently not used. There are approximately 100 marked car parking spaces on site.
SERVICES
Mains electricity, water and mains drainage are connected to the property. The offices are heated by electric storage heaters.
ACCOMMODATION
In accordance with the RICS Code of Measuring Practice we have calculated the following Gross Internal Areas as follows:-
SQ M SQ FT
Main Building, Ground Floor Offices 683.54 7,358
Main Building, Ground Floor Industrial 730.06 7,858
Main Building, First Floor Offices 202.96 2,185
Detached Industrial Building 93.71 1,009
TOTAL 1,710.27 18,410
The approximate area of the site which has scaled from the Ordnance Survey Plan is 1.97 acres (0.727 hectares).
GROUND LEASE TENURE
The property is held on a 63 year ground lease from Stockport Borough Council from 1st October 1973 and expires on 30th September 2036. The current passing rental is £30,000 per annum and is subject to further reviews on 1st October 2015, 2022 and 2029.
The entire property is under let to Electricity North West Ltd for a term of years commencing on 13th May 2008 and expiring on 31st March 2015. The current rent passing is £75,000 per annum and subject to an upwards only review on 19th December 2010 and 2013.
The Tenant is responsible for all repairs but this is limited by way of a Schedule of Condition, which is attached to the lease.
The Tenant has a right to determine the lease at any time after 31st March 2010 by giving not less than 6 months written notice in advance.
PRICE
£275,000 plus VAT
VAT
Not applicable | | | | | | FOR SALE | | | | | REFERENCE: | 1218 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
