The Grosvenor Centre, 27-29 Market Place, Macclesfield
£28.50 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
131,580 sq ft
12,224 sq m
- SECTOR
Shop for sale
Key features
- Interested Parties will bid via a set deadline (5th Nov) on an auction contract
- A freehold shopping centre located in the heart of the town centre
- The Grosvenor Centre underwent £10 million extension and refurbishment in 2018
- Key anchor tenants include TK Maxx (27,776 sq ft) and Boots (20,456 sq ft)
- The scheme extends 131,580 sq ft (12,224 sq m) across 39 units
- Low capital value of £28.49 per a sq ft on guide price
- Strong WAULT of 4.39 years to expiry and 3.05 years to break
- Value-add opportunities through leasing of vacant units and improving occupancy
- Investment let at £885,398 per annum (23.61% GIY on guide) Part vacant
- Vacant unit ERV - £168,585 = Potential Gross income - £1,053,983 - 28.10% GIY
Description
The Grosvenor Centre occupies a central location in the main retailing area, forming the town’s dominant retail destination. It is complemented by surrounding high street locations such as Chester Gate, Mill Street and Market Place, providing a mix of independent and high street retailers.
The scheme comprises 131,580 sq ft (12,224 sq m) of retail accommodation across 39 units, arranged predominantly on a single level around three covered malls, together with a market hall operated by Cheshire East Council.
In 2018, the scheme underwent a comprehensive refurbishment and extension, providing a further 50,000 sq ft of retail accommodation and forming the home of the anchor tenant TK Maxx. More recently, Macclesfield’s indoor market has benefitted a £1.2 million refurbishment by Chester East Council, revitalising and enhancing the offering for the local occupants.
In Q4 2024, Macclesfield town centre vacancy rates were below the PROMIS centre average and had shown improvement when compared with Q4 2023.
Macclesfield is an historic and affluent market town in Cheshire East, located just 16 miles south of Manchester, 32 miles east of Chester and adjacent to the Peak District. Macclesfield, historically dominant in the UK silk and textile industry, has been replaced with other industries including, science, technology, and service sectors.
Macclesfield Railway Station is a key transport hub in the town centre, located just a short walk from The Grosvenor Centre. Positioned on the Stafford–Manchester branch of the West Coast Main Line, it offers fast and direct connections, reaching Manchester Piccadilly in as little as 22 minutes and London Euston in under two hours.
Brochures
The Grosvenor Centre, 27-29 Market Place, Macclesfield
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Macclesfield Station0.2 miles
- Prestbury Station2.5 miles
- Adlington (Ches.) Station4.1 miles
Notes
Disclaimer - Property reference CA9FD33F-A13D-4ECA-9832-2746DE07828F. 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 Savills, Savills Auctions- Commercial. 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.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Savills, Savills Auctions- Commercial on 020 3834 8097.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
Map data ©OpenStreetMap contributors.