£620,000
(£858.73/sq. ft)
Retail premises for saleHeron Point, 391, 391A, 391B Palatine Road, Manchester M22
From 722 - 2,478 sq. ft
Under offer
Leasehold
About this property
Outstanding visibility with prime frontage directly onto Palatine Road
Fully let to Age Concern and two local tenants with an average WAULT of 3.8 years
Total Passing Rent £49,000pax (£19.78 per sq ft)
Long Leasehold 250 years at a peppercorn
Net Initial Yield – 7.52%
Description
Northenden is a suburb in the city of Manchester, in Greater Manchester. It lies on the south bank of the River Mersey, is about 5 miles south of Manchester city centre, and roughly 4 miles west of Stockport, with a population of 15,000 across 6,000 households.
With unrivalled road connectivity with its immediate proximity to the A5103 (Princess Parkway), which connects Manchester city centre southwards towards Wythenshawe, and links up with the M56 motorway and M60 orbital network.
Heron Point, recently developed by Mansion House Group, presents a striking standalone building. The upper floors offer elegant residential apartments, while the ground level features three versatile commercial units designed for various businesses. Crafted from durable steel and adorned with partially rendered brick façades, it incorporates modern aluminium double-glazed floor-to-ceiling windows and internal shutters for added security.
Proposal
We are instructed to seek overs of £620,000 * for the whole. We will consider individual lot sales. Please enquire with the agent for further details.
*Finance may be available.
VAT
The property has been elected for VAT purposes. It is anticipated that the sale will be dealt with by way of Transfer of a Going Concern (togc).
Service Charge
A service charge is in place to cover the cost of external items and estate. This is a fully recoverable item from the tenants.
Dataroom
Full legal documentation can be made available to interested parties via a legal dataroom.
Tenure
The property is to be sold by way of a Peppercorn Long Leasehold interest for a term of 250 years.
Anti-Money Laundering Regulations
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
Northenden is a suburb in the city of Manchester, in Greater Manchester. It lies on the south bank of the River Mersey, is about 5 miles south of Manchester city centre, and roughly 4 miles west of Stockport, with a population of 15,000 across 6,000 households.
With unrivalled road connectivity with its immediate proximity to the A5103 (Princess Parkway), which connects Manchester city centre southwards towards Wythenshawe, and links up with the M56 motorway and M60 orbital network.
Heron Point, recently developed by Mansion House Group, presents a striking standalone building. The upper floors offer elegant residential apartments, while the ground level features three versatile commercial units designed for various businesses. Crafted from durable steel and adorned with partially rendered brick façades, it incorporates modern aluminium double-glazed floor-to-ceiling windows and internal shutters for added security.
Proposal
We are instructed to seek overs of £620,000 * for the whole. We will consider individual lot sales. Please enquire with the agent for further details.
*Finance may be available.
VAT
The property has been elected for VAT purposes. It is anticipated that the sale will be dealt with by way of Transfer of a Going Concern (togc).
Service Charge
A service charge is in place to cover the cost of external items and estate. This is a fully recoverable item from the tenants.
Dataroom
Full legal documentation can be made available to interested parties via a legal dataroom.
Tenure
The property is to be sold by way of a Peppercorn Long Leasehold interest for a term of 250 years.
Anti-Money Laundering Regulations
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
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