19 - 21 King Edward Street Macclesfield Cheshire SK10 1AF

19 - 21 King Edward Street
Macclesfield
Cheshire
SK10 1AF

Freehold Office Investment

  • Let to McCann Complete Medical Limited (Guaranteed by Interpublic Limited) on a recent 10 year lease (no breaks) until 2026
  • Approximately 1,705.77 sq m (18,361 sq ft)
  • RPI linked rental increase subject to a minimum of 1% and a maximum of 3%
  • Car Parking for approximately 32 cars
  • Neighbouring occupiers include Job Centre Plus, Macclesfield Chamber of Commerce and Lloyd Bolam Insurance Brokers
  • Producing £254,000 per annum exclusive subject to note (3)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    55
  • Auction
    13th October 2016
  • Rent
    £254,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of a Major Fund
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Office Investment

  • Let to McCann Complete Medical Limited (Guaranteed by Interpublic Limited) on a recent 10 year lease (no breaks) until 2026
  • Approximately 1,705.77 sq m (18,361 sq ft)
  • RPI linked rental increase subject to a minimum of 1% and a maximum of 3%
  • Car Parking for approximately 32 cars
  • Neighbouring occupiers include Job Centre Plus, Macclesfield Chamber of Commerce and Lloyd Bolam Insurance Brokers
  • Producing £254,000 per annum exclusive subject to note (3)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 55
  • Auction 13th October 2016
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of a Major Fund

Property Information

Location
Miles
20 mile south of Manchester, 35 miles east of Chester, 30 miles south-west of Sheffield
Roads
A523, A536, A537
Rail
Macclesfield Railway Station
Air
Manchester Airport
Situation

Macclesfield is an affluent Cheshire market town situated on the western edge of the Peak District National Park and some 20 miles south of Manchester. The property is situated in the heart of the town centre on the northern side of King Edward Street and close to its junction with Churchill Way in Macclesfield Town Centre. Neighbouring occupiers include Job Centre Plus, Macclesfield Chamber of Commerce and Lloyd Bolam Insurance Brokers. The property is situated some 300 metres to the north of the Grosvenor Shopping Centre.

Tenure

Freehold.

Location
Miles
20 mile south of Manchester, 35 miles east of Chester, 30 miles south-west of Sheffield
Roads
A523, A536, A537
Rail
Macclesfield Railway Station
Air
Manchester Airport
Situation

Macclesfield is an affluent Cheshire market town situated on the western edge of the Peak District National Park and some 20 miles south of Manchester. The property is situated in the heart of the town centre on the northern side of King Edward Street and close to its junction with Churchill Way in Macclesfield Town Centre. Neighbouring occupiers include Job Centre Plus, Macclesfield Chamber of Commerce and Lloyd Bolam Insurance Brokers. The property is situated some 300 metres to the north of the Grosvenor Shopping Centre.

Tenure

Freehold.

Description

The property comprises two interlinked office buildings, one a refurbished period building of approximately 586.20 sq m (6,310 sq ft) and the other a modern office building of approximately 1,111.50 sq m (11,964 sq ft). Purpose built in 2000 for the current tenant, the property benefits from central heating, perimeter trunking, suspended ceilings and car parking to the rear for approximately 32 cars.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two interlinked office buildings, one a refurbished period building of approximately 586.20 sq m (6,310 sq ft) and the other a modern office building of approximately 1,111.50 sq m (11,964 sq ft). Purpose built in 2000 for the current tenant, the property benefits from central heating, perimeter trunking, suspended ceilings and car parking to the rear for approximately 32 cars.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
19 King Street Ground
Ground
First
Second
Third
Office
Reception
Office
Office
Office
156.17 sq m
69.58 sq m
325.90 sq m
325.90 sq m
240.43 sq m
(1,68 1 sq ft)
(749 sq ft)
(3,508 sq ft)
(3,508 sq ft)
(2,588 sq ft)
MCCANN
COMPLETE
MEDICAL
LIMITED
GUARANTEED
BY
INTERPUBLIC
LIMITED (1)
10 years from
29/01/2016 until
28/01/2026 on a full
repairing and insuring
lease (4)
£254,000 29/01/2021 linked to
RPI (2)
21 King Street Ground
Ground
Basement
First
First
Second
Office
Ancillary
Ancillary
Office
Ancillary
Office
182.65 sq m
21.92 sq m
22.30 sq m
194.63 sq m
34.37 sq m
154.21 sq m
(1,966 sq ft)
(236 sq ft)
(240 sq ft)
(2,095 sq ft)
(370 sq ft)
(1,660 sq ft)
TOTAL    
1,728.06 sq m
(18,601 sq ft)
    £254,000  

(1) For the year ending 31st December 2014, McCann Complete Medical Limited reported a turnover of £30,549,000, pre-tax profits of £7,166,000 and a total net worth of £47,059,000. (Source: www.riskdisk.com 22/06/2016). For the year ending 31st December 2014, Interpublic Limited reported pre-tax profits of £29,550,000 and a total net worth of £69,815,000. (Source: www.riskdisk.com 22/06/2016).
(2) The rent review is linked to the Retail Price Index (RPI) subject to a minimum of 1% and a maximum of 3%. See schedule 3 of the lease.
(3) Under the terms of the lease, the rent commencement date is the 29th January 2018. The seller will pay the buyer a sum equivalent to the rent that would have been payable from completion of the sale until 28th January 2018 in the absence of the delayed rent commencement date in the lease.
(4) Under the terms of the lease the tenant shall have no obligation to repair the boundary wall. See clause 3.4 of the lease.

Property Documents

  • Site Plan
    Updated Date
    13.11.19
    File Size
    59 KB
    View PDF
  • Catalogue Page
    Updated Date
    13.11.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Stephenson Harwood 1 Finsbury Circus
London
W1U 1QY
Katie Sweetensen 0207 809 2673katie.sweetensen@shlegal.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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