Commercial Property for saleMoss Lane, Bramhall
Retail Investment Producing £16,000 pax equating to 7.17% yield
Location - The subject property forms the right hand end of a terrace of similar retail units fronting Moss Lane (B5094) in the centre of Bramhall with the ever popular Piccolinos Restaurant situated directly opposite the property.
Bramhall itself is considered an affluent suburb of Stockport and a popular commuter location being approximately 10 miles south of Manchester City Centre.
Description - The property briefly comprises a two storey end terrace property providing ground floor self contained retail unit and first floor flat which has been sold off on a 999 year lease at a peppercorn rental.
To the rear of the property is a communal car parking area for which the occupiers of 218 Moss Lane have one designated space together with the rights to use other spaces if available.
Accommodation - The property extends to the following net internal floor areas:
Sales Area 64.41 sq m(693 sq ft)
Lease - The property is currently let to TSK Agencies Limited, t/a Ink and Toner World (Company Registration No. 4709164) with 2 no. Personal guarantees in place. The term is for 6 years from 1 May 2015 at a passing rental of £16,000 per annum exclusive. The agreement incorporates a rent review on the 1st May 2018 and also a tenant only break clause on the third anniversary of the commencement date. The tenant is responsible for all repairs and a fair proportion of building insurance.
The tenant has been in occupation since 2003.
Asking Price - £225,000
Tenure - Freehold
Yield - A purchase at £225,000 produces a net initial yield of 7.03% assuming purchasers costs of 1.17%.
Vat - The property is not registered for VAT.
Viewing - If you would like to view this property or would like further information please contact Sole Agents:
Roger Hannah & Company
14 St Marys Parsonage
Tel: 0161 817 3399 Fax: 0161 817 3398
All our properties can be viewed on the internet at www.roger-hannah.co.uk
Location Plan -
Roger Hannah & Co Ltd act as agents for the vendor(s) or lessor(s) of this property and gives notice that: (i) The particulars are a general outline only for the guidance of intending purchasers or lessors and do not constitute an offer or contract (ii) All descriptions are given in good faith and are believed to be correct, but any intending purchasers or lessees should not rely on them as statements of fact and must satisfy themselves by inspection or otherwise as to their correctness. (iii) None of the buildings services or service installations have been tested and are not warranted to be in working order. (iv) No employee of the two agents has any authority to make or give any representation or warranty whatever in relation to the property. (v) Unless otherwise stated all prices are quoted exclusive of VAT. (vi) Where applicable an Energy Performance Certificate is available upon request.
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