Mill Street, Macclesfield, Cheshire, SK11

Macclesfield is a prosperous market town located in Cheshire, approximately 16 miles south of
Manchester and 38 miles east of Chester and is situated on the edge of the Peak District. The area has good road connectivity with M6, M56 and M60 motorways being around 12 miles distant.

The property is of brick construction with steel columns, arranged over ground and first floor beneath part pitched and part flat roof. Extensively refurbished last year by the tenant, to create the Panadero Lounge which means Baker in Spanish. At ground floor there is external seating either side of the main entrance leading through to an attractive bar and seating area. Kitchen facilities are to the rear together with separate male, female and disabled WC's. Back of house areas include store rooms, bin stores and staff welfare changing areas. There is a separate fire escape access to Mill Street which also provides access to the stairs and goods lift to the first floor. This provides open space and storage rooms which is currently not used by the tenant. There is potential to expand the Lounge in the future by refurbishing the first floor and also creating external balcony space.

Tenancy

Let on a full repairing and insuring lease to Loungers UK Limited for a term of 15 years from 24th
November 2023 and expiring on 23rd November 2038 with no tenant breaks and providing 13.4 years term certain. The current passing rent is £75,000 per annum, which equates to £8.26 per sq. ft. The rent is reviewed on the 5th and 10th anniversary, upward only and on an Open Market Value basis.