2 bedroom house for sale

Chestergate, Macclesfield, Cheshire, SK11

Guide Price* £285,000

Property Description

Key features

  • SHOP + TWO FLATS + PARKING
  • Over 23k Income P.a - Thats 7.5% Yield
  • Excellent Investment Opportunity
  • Desirable Town Centre Location
  • Please Contact Branch For EPCs
  • On-site Parking Spaces
  • Recently Refurbished Throughout
  • Commercial Property To Ground Floor
  • Apartments To First And Second Floors

Full description

Tenure: Leasehold

***ATTENTION INVESTORS*** Exciting investment opportunity with great yield! On current gross income of approx £23,180 this equates to over 7.5% yield.

A unique opportunity to purchase a strong investment property. To the ground floor COMMERCIAL SPACE/ SHOP and basement is currently trading as a cafe signed lease on the ground floor commercial unit through to 16th November 2021, the rent is £12,000 per annum. To the first and second floors the fully renovated apartments are accessed via a totally independent entrance through secure gates to the communal door, through a vestibule onto the entrance door to the apartments.

The first floor apartment provides a spacious living/kitchen area and bedroom with shower room and is currently in negotiation for 105 per week equating to £5460 per annum, expected move in date mid August 2019.

To the second floor the apartment is currently under tenancy application for 110 per week equating to £5720 per annum, this apartment has terms agreed - effective date move in date 1st August 2019.

Additionally a potential fourth revenue is available with town centre parking to the rear of the property (4 spaces included in the Freehold).

Chestergate is a bustling, pedestrianised commercial corridor that serves the town's residents and visitors and provides an excellent position for potential trade with a high level of footfall throughout the year. If purchased around the 300k mark and assuming that it is based on the figures included within the details, this would provide a potential yield well in excess of 7.5%. A purchase figure lower, then a higher yield of course. This DOES NOT include further potential revenue from the on-site parking. Both apartments have EPC Grade C.

FOR SALE BY MODERN METHOD OF AUCTION, STARTING BID: 285,000 + RESERVATION FEE. This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, however from the date the Draft Contract is received by the buyers solicitor, the buyer is given 56 days in which to complete the transaction, with the aim being to exchange contracts within the first 28 days. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Buyer Information Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by North West Property Auction powered by IAM Sold.Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Reservation Fee of 4.2% to a minimum of 6,000.00 including VAT 4.2% of the final agreed sale price including VAT. This is subject to a minimum payment of 6,000.00 including VAT. which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation from and all terms and conditions can be found in the Buyer Information Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by North West Property Auction powered by IAM Sold. Reservation Fee is in addition to the final negotiated selling price.


IMPORTANT NOTE TO PURCHASERS:
We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Please be advised that some of the particulars may be awaiting vendor approval. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller.

MAC170032/2


Main Description 
***ATTENTION INVESTORS*** Exciting investment opportunity with great yield! On current gross income of approx £23,180 this equates to over 7.5% yield. A unique opportunity to purchase a strong investment property. To the ground floor COMMERCIAL SPACE/ SHOP and basement is currently trading as a cafe signed lease on the ground floor commercial unit through to 16th November 2021, the rent is £12,000 per annum. To the first and second floors the fully renovated apartments are accessed via a totally independent entrance through secure gates to the communal door, through a vestibule onto the entrance door to the apartments. The first floor apartment provides a spacious living/kitchen area and bedroom with shower room and is currently in negotiation for 105 per week equating to £5460 per annum, expected move in date mid August 2019. To the second floor the apartment is currently under tenancy application for 110 per week equating to £5720 per annum, this apartment has (truncated)

Process details 
FOR SALE BY MODERN METHOD OF AUCTION, STARTING BID: 285,000 + RESERVATION FEE. This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, however from the date the Draft Contract is received by the buyers solicitor, the buyer is given 56 days in which to complete the transaction, with the aim being to exchange contracts within the first 28 days. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. (truncated)

COMMERCIAL PREMISES TO GRD FLOOR 
The ground floor area has recently undergone a full renovation.

Ground Floor 

Customer Seating Area 
Measuring in excess of 35ft by 13ft. Glazed window to front elevation with glazed door with upper and side lights.

Kitchen 
4.44 x 1.8 - A range of wall, drawer and base units with roll top preparation surface. Stainless steel sink. Corner wall mounted wash basin. Service hatch.

Rear Hall/ Corridor 
Door leading to external yard. Kitchen and WC's off.

Male And Female WC's 
Hand wash area leading onto two separate cubicles with close coupled WCs. Wooden panelling to half height. Corner wall mounted wash basin with chrome mixer tap. Recessed down lights.

Basement 

Preparation Area 
2.95 x 3.84 - Power and lighting.

Storage Area 
5.13 x 3.76 - Power and lighting.

APARTMENT TO FIRST FLOOR 
Accessed externally from the rear of the building.

APARTMENT TO SECOND FLOOR 
Accessed externally from the rear of the building.

Entrance Hall 
Details to be confirmed.

Open Plan Living Room/Kitchen 
Details to be confirmed.

Bedroom 
Details to be confirmed.

Ensuite 
Details to be confirmed.

Outside 
Small yard area to rear.

PARKING 
Four defined parking spaces to rear, adjacent to the rear wall of the property.

Location Maps 

Agents Note 
The sale is for the Freehold and subleases for the Flats. The calculations/ figures used are based on information we have been provided by the current owner with regards to rental incomes from current tenants. This can be subject to change and we advise you do all necessary checks on current rental agreements and income that the property provides.

Floor Plan 

More information from this agent

Listing History

Added on Rightmove:
03 January 2018

Nearest stations

  • Macclesfield (0.2 mi)
  • Prestbury (2.4 mi)
  • Adlington (Ches.) (4.1 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Reeds Rains , Macclesfield

37/39 Church Street, Macclesfield, SK11 6LB

01625 909026 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.

Floorplans


To view this property or request more details, contact:

Reeds Rains , Macclesfield

37/39 Church Street, Macclesfield, SK11 6LB

01625 909026 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

  • Macclesfield (0.2 mi)
  • Prestbury (2.4 mi)
  • Adlington (Ches.) (4.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Reeds Rains , Macclesfield

37/39 Church Street, Macclesfield, SK11 6LB

01625 909026 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 MAC170032. 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 Reeds Rains , Macclesfield. 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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*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.”

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 Reeds Rains , Macclesfield on 01625 428915.


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