Commercial Property for sale

Fields New Road, Oldham

Guide Price £750,000
126,850 sq. ft.

Property Description

Commercial information

  • 126,850 sq ft (11,784 sq m)

Full description

****SOLD*****
Substantial four storey (plus basement) semi detached cotton mill
126,850 sq ft (11,784 sq m)
Currently producing £107,583 pax

Location - Nile Mill B is prominently situated fronting Fields New Road which runs parallel to Manchester Road (A62) and Broadway (A663) in the Chadderton area, approximately 1 mile to the South West of Oldham town centre and approximately 1 mile north of junction 21 and 22 of the M60 orbital motorway.

Description - The Mill itself is a semi-detached (4 storey plus basement), former cotton mill which together with the adjoining Nile Mill A shares an engine house constructed in circa 1898. Both Nile Mill A and Nile Mill B are Grade II Listed but in separate ownership. We are informed that the listing was due to the Mill being one of the longest mill structures in the UK.

The Mill is of solid brickwork external walls beneath a flat roof, supported on cast iron stantions. Floors are of reinforced concrete or brick barrel vaulted construction overlaid with boarding and concrete. The basement/lower ground floor is of solid concrete construction.

Accommodation - The accommodation briefly comprises the following gross internal floor areas

Lower Ground Floor 30,800 sq ft
Upper Ground Floor 30,800 sq ft
First Floor 22,620 sq ft
Second Floor 22,620 sq ft
Third Floor 20,010 sq ft

Total gross internal floor area 126,850 sq ft (11,784 sq m)
Approximate site area 2.35 acres

Tenancy Summary - 1.Lower Ground Floor - let to paintball company (Urban Chaos Limited), at a rental of £25,000 pa. The space is let by way of a five year lease from February 2014 and we understand the tenant has been in occupation since 2008.

2.Ground plus upper floors - let to Express Parcel Services by way of a 4 year lease from February 2014 at a current rental of £82,583 pa. This rent is currently at a reduced rate of £71,046 pa due to the owner undertaking works to the roof.

Total rental income: £107,583 pax which is currently at a reduced rate of £96,046 pax

It is also understood that full recovery of service charge is included.

Asking Price - Offers in the region of £750,000

A purchase of £750,000 equates to a net initial yield of 13.8% assuming purchasers costs at 3.91%

Tenure - Assumed to be freehold

Vat - All prices are exclusive of but may be subject to VAT at the prevailing rate.

Viewing - If you would like to By Appointment with the Sole Agent

Roger Hannah & Company
Century Buildings
14 St Marys Parsonage
Manchester
M3 2DF

Tel: 0161 817 3399
Fax: 0161 817 3398
Email: stuartcooper@roger-hannah.co.uk

MISREPRESENTATION ACT
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 building’s 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.


More information from this agent

Nearest stations

  • Oldham Werneth (0.7 mi)
  • Hollinwood (1.0 mi)
  • Moston (1.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Roger Hannah & Co, Manchester

Century Buildings 14 St. Marys Parsonage Manchester M3 2DF

0161 468 0870 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Oldham Werneth (0.7 mi)
  • Hollinwood (1.0 mi)
  • Moston (1.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Roger Hannah & Co, Manchester

Century Buildings 14 St. Marys Parsonage Manchester M3 2DF

0161 468 0870 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 26792352. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Roger Hannah & Co, Manchester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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