Offers over
£385,000
(£145.61/sq. ft)
Office for sale85 George Street, Altrincham WA14
2,644 sq. ft
About this property
Exceptional freehold retail investment opportunity in prime Altrincham, a historic and affluent commuter town
Nestled in a bustling shopping district, this unit boasts excellent visibility and foot traffic
Upper floors are sold off via a long leasehold
Freehold
Currently leased to Shoalter UK at an annual rent of £28,000 with a co-terminus sub lease to Share Your Story UK ltd at an annual rent of £28,000 per annum
85 George Street is located 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 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 a 2-minute walk to the Interchange, providing unrivalled connectivity.
The property features a retail space spanning both ground and basement levels, situated within a historic Victorian terrace built of traditional brick. It boasts suspended timber floors beneath a newly installed slate tile pitched roof. The spacious ground floor is primarily open plan, with a WC located at the rear. The sub-tenant has upgraded the unit to modern standards.
Additionally, the property is equipped with essential mains water and electricity utilities.
Tenure
The property is held freehold.
Dataroom
Full legal documentation can be made available to interested parties via a legal dataroom.
Legal Costs
Each party will be responsible for the payment of their own legal costs incurred in the transaction.
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).
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.
Proposal
Offers are sought in excess of £385,000, subject to contract and exclusive of VAT. A purchase at this level would reflect the following yield profile, assuming standard purchaser's costs:
Net Initial Yield 7%
Reversionary Yield 7.5%
Capital Value £189 per sq ft
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