Offers over
£1,600,000
(£235.02/sq. ft)
Office for sale1-5 The Downs, Altrincham WA14
6,808 sq. ft
Freehold
About this property
Attractive town centre period property situated in a prominent gateway position
A rare opportunity to acquire a prime block in the heart of one of Manchester’s most affluent suburbs
In close proximity to Altrincham’s Stamford and Market Quarter
Directly opposite one of Altrincham’s latest contemporary residental developments, compraising 40 units with a gdv of £15m
The majority of the property has benefited from a comprehensive and sympathetic building improvement programme
Medium term residential redevelopment opportunity, STP
Producing a gross annual income of £128,750 with an estimated rental income of £139,750 pax
New key point...
Description
The property is arranged over basement, ground and three upper floors providing high specification office accommodation in addition to a self-contained retail unit.
The property is of brick elevations beneath a multi-pitched slate tiled roof with ornate detailing around the window and top floor elevations. The rear elevation to the offices has new UPVC double glazed units however the majority of the windows within the property are timber sash. The floors are of timber construction.
The property has seen significant upgrades, including:
Fresh external paint and brickwork restoration
Complete exterior repointing
New restrooms for both men and women
Transformation of the ground and lower floors
into modern office spaces
Enhancements to several upper-floor office suites
Improvements in common areas
Location
The Downs is located on a prime site in the heart of Altrincham, a highly affluent commuter town strategically located 8 miles south of Manchester city centre.
Altrincham has excellent communication links being located 3 miles (5km) south of Junction 7 of the M60 Orbital and 3 miles (5 km) east of Junction 3 of the M56, which in turn provides access to the M6 and wider motorway network. The A56 provides direct access from Altrincham to Manchester city centre to the north and the M56 motorway to the south.
The town also benefits from strong public transport links, with Rail, Metrolink and Bus Services provided via Altrincham Interchange. The property is situated within 5 minutes walk of the Interchange providing unrivalled connectivity.
Terms
The property is held freehold.
Purchase Price
Our client is seeking offers in excess of £1,600,000 (One Million Six Hundred Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects the following yield profile assuming purchasers' costs of 6%:
Net Initial Yield: 7.6%
Reversionary Net Yield: 8.23%
Capital Value per sq ft: £235
The property is arranged over basement, ground and three upper floors providing high specification office accommodation in addition to a self-contained retail unit.
The property is of brick elevations beneath a multi-pitched slate tiled roof with ornate detailing around the window and top floor elevations. The rear elevation to the offices has new UPVC double glazed units however the majority of the windows within the property are timber sash. The floors are of timber construction.
The property has seen significant upgrades, including:
Fresh external paint and brickwork restoration
Complete exterior repointing
New restrooms for both men and women
Transformation of the ground and lower floors
into modern office spaces
Enhancements to several upper-floor office suites
Improvements in common areas
Location
The Downs is located on a prime site in the heart of Altrincham, a highly affluent commuter town strategically located 8 miles south of Manchester city centre.
Altrincham has excellent communication links being located 3 miles (5km) south of Junction 7 of the M60 Orbital and 3 miles (5 km) east of Junction 3 of the M56, which in turn provides access to the M6 and wider motorway network. The A56 provides direct access from Altrincham to Manchester city centre to the north and the M56 motorway to the south.
The town also benefits from strong public transport links, with Rail, Metrolink and Bus Services provided via Altrincham Interchange. The property is situated within 5 minutes walk of the Interchange providing unrivalled connectivity.
Terms
The property is held freehold.
Purchase Price
Our client is seeking offers in excess of £1,600,000 (One Million Six Hundred Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects the following yield profile assuming purchasers' costs of 6%:
Net Initial Yield: 7.6%
Reversionary Net Yield: 8.23%
Capital Value per sq ft: £235
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