Commercial Property for saleSchool Road And, Sale
Retail and Residential Investment
3 x retail units / 4 x spacious and high spec apartments
Currently producing £114,000 per annum
Net initial yield of 8.1%
Consent for two further apartments,
Reconfigured and refurbished in 2013/14
8 enclosed/secured car parking spaces
Location - Centrally situated fronting onto School Road, the main retail core of Sale Town Centre, comprising a mix of High Street and local traders with nearby occupiers including Sainsburys, Tesco's and Aldi supermarkets together with Costa Coffee and M&S Food. The main shopping centre is The Square shopping centre, constructed in the 1960's and in 2003 the centre underwent a £7 million refurbishment as part of the redevelopment of Sale town centre.
School Road for the main part is pedestrianised, however the section where the subject property is located provides vehicular access for approximately 100m.
Sale itself is a popular commuter suburb in South Manchester benefitting from excellent transport links to Manchester City Centre on road via A56 (Washway Road/Cross Street) and M60 together with Sale Metrolink Station which is located further along School Road.
Description - The property was substantially reconfigured and refurbished during 2013 to create 3 ground floor self contained retail units fronting onto School Road with 8 enclosed/secure car parking spaces to the rear of the ground floor, accessed via 2 roller shutter doors. The first and second floors provide 4 spacious apartments fitted to a high specification to include quality kitchen fittings including granite worktops, fitted wardrobes to the bedrooms and floor coverings of solid wood or carpeted. Each apartment has been separately metered and has video entry system linked to the main front door. The apartments are accessed from Wynnstay Road and known as "The Block".
In addition the property also benefits from consent to add two further apartments at second floor level (2 bed apartments)
Epc - Ground Floor
102 School Road - C 66
104 School Road - C 56
106 School Road - C 59
Apartment 1 - D 56
Apartment 2 - D 63
Apartment 3 - D 67
Apartment 4 - F 35
Tenure - Believed to be freehold
Price - £1.35 million when assuming purchasers costs at 4.33% gives a net initial yield of 8.1%
Vat - Elected for VAT therefore the purchase price will be plus VAT
Viewing - Roger Hannah & Company
14 St Marys Parsonage
Tel: 0161 817 3399
Fax: 0161 817 3398
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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