Longsight District Centre, Stockport Road Longsight Manchester M12 4JH

Longsight District Centre, Stockport Road
Longsight
Manchester
M12 4JH

Substantial Retail Parade Investment

  • Substantial retail parade (circa 25,489 sq ft) currently arranged as 14 retail units with offices above
  • Tenants include Barclays Bank, Greggs and Paddy Power
  • Prominent position fronting Stockport Road (A6)
  • Located adjacent to Asda Superstore and Lidl and close to the local Longsight market
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    78
  • Auction
    13th October 2016
  • Rent
    £295,750 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On Behalf of a Major Fund Manager
Important Update
  • Expand
  • Photos
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* More information on the term "guide" can be found here

Substantial Retail Parade Investment

  • Substantial retail parade (circa 25,489 sq ft) currently arranged as 14 retail units with offices above
  • Tenants include Barclays Bank, Greggs and Paddy Power
  • Prominent position fronting Stockport Road (A6)
  • Located adjacent to Asda Superstore and Lidl and close to the local Longsight market
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 78
  • Auction 13th October 2016
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On Behalf of a Major Fund Manager

Property Information

Location
Miles
2.5 miles south east of Manchester
Roads
A6, A6010, M67 (Junction 24)
Rail
Belle Vue Rail
Air
Manchester International Airport
Situation

Longsight is a popular suburb just 2.5 miles south east of Manchester City Centre just off Junction 24 of the A57 (M). The property is prominently situated on Stockport Road (A6), Longsight’s prime retailing pitch. The property is located adjacent to an Asda and Lidl Superstore and benefits from heavy pedestrian flow from their car parks. Other nearby occupiers include Shoe Zone, RBS and William Hill.

Tenure

Long Leasehold. Held from Asda Stores Limited for a term of 99 years (less 3 days) from 25/12/1977 until 21/12/2076 at a current rent of £70,000 pa.

Location
Miles
2.5 miles south east of Manchester
Roads
A6, A6010, M67 (Junction 24)
Rail
Belle Vue Rail
Air
Manchester International Airport
Situation

Longsight is a popular suburb just 2.5 miles south east of Manchester City Centre just off Junction 24 of the A57 (M). The property is prominently situated on Stockport Road (A6), Longsight’s prime retailing pitch. The property is located adjacent to an Asda and Lidl Superstore and benefits from heavy pedestrian flow from their car parks. Other nearby occupiers include Shoe Zone, RBS and William Hill.

Tenure

Long Leasehold. Held from Asda Stores Limited for a term of 99 years (less 3 days) from 25/12/1977 until 21/12/2076 at a current rent of £70,000 pa.

Description

The property is currently arranged as 10 ground floor retail units with some first floor office accommodation above and a self-contained office unit, together with a separate parade currently arranged as four ground floor kiosk units.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property is currently arranged as 10 ground floor retail units with some first floor office accommodation above and a self-contained office unit, together with a separate parade currently arranged as four ground floor kiosk units.

VAT

VAT is applicable to this lot.

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/(Reversion)
537 Stockport Road
(Unit A/A2)
Ground
First
Banking Hall
Offices
187.60 sq m
273.20 sq m
(2,019 sq ft)
(2,940 sq ft)
BARCLAYS BANK PLC (1) 10 years from
06/02/2009
£59,000 06/02/2014
(05 /02/2019)
539 Stockport Road
(Unit B)
Ground
First
Retail
Ancillary
64.40 sq m
41.10 sq m
(693 sq ft)
(442 sq ft)
GREGGS PLC (2 ) 10 years from
25/03/2009
£ 16,000 25/03/2014
(24/03/2019)
541 Stockport Road
(Unit C)
Ground
First
Retail
Ancillary
64.70 sq m
36.20 sq m
(696 sq ft)
(390 sq ft)
VACANT POSSESSION - - -
543 Stockport Road
(Unit D)
Ground
First
Retail
Ancillary
63.10 sq m
41.76 sq ft
(679 sq ft)
(450 sq ft)
SPEEDLOAN FINANCE
LIMITED (3)
10 years from
08/11/2010 (4)
£ 16,500 08/11/2015
(07/11/2020)
545 Stockport Road
(Unit E)
Ground
First
Retail
Ancillary
60.60 sq m
42.40 sq m
(652 sq ft)
(456 sq ft)
UNDER OFFER (5) - - -
547 Stockport Road
(Unit F)
Ground
First
Retail
Ancillary
67.78 sq m
42.42 sq m
(730 sq ft)
(456 sq ft)
INDIVIDUAL t/a Afro
Beauty Hairdressing
10 years from
10/07/2010
£ 16,500 21/07/2015
(20/07/2020)
549 Stockport Road
(Unit G)
Ground
First
Retail
Ancillary
62.40 sq m
31.41 sq m
(672 sq ft)
(33 8 sq ft)
VACANT POSSESSION - - -
551-553 Stockport Road
(Unit H & J)
Ground Retail 145.50 sq m (1,566 sq ft) POWER LEISURE
BOOKMAKERS LIMITED
GUARANTEED BY PADDY
POWER LIMITED
t/a Paddy Power (6)
15 years from
16/12/2011 (7)
£38,000 16/12/2016 and
16/12/2021
(15/12/2026)
555 Stockport Road
(Unit K)
Ground Retail 158.50 sq m (1,706 sq ft) INDIVIDUAL
t/a Uptown Girl
10 years from
29/09/2012 (8)
£31,500 29/09/2017
(28/09/2022)
1 Stanley Grove
(Unit L & Upper K)
Ground
First
Retail
Office
204.72 sq m
482.48 sq m
(2,204 sq ft)
(5,193 sq ft)
BETTER CHOICES LIMITED
(IN LIQUIDATION)
GUAR ANTEED BY
ECONOMIC SOLUTIONS
LIMITED t/a Connexions
10 years from
07/10/2011 (9)
£42,500 (06/10/2021)
537a
(Unit 2A)
Ground Retail 1 07.90 sq m (1,161 sq ft) THE GOLD EMPORIUM
LIMITED t/a Gold Emporium
Pawnbrokers
10 years from
12/01/2012
£25,000 12/01/2017
(11/01/2022)
35
(Kiosk 1)
Ground Retail 47.30 sq m (509 sq ft) INDIVIDUAL
t/a Unique Hair & Beauty
10 years from
24/03/2016
£12,000 24/03/2021
(23/03/2026)
533
(Kiosk 2)
Ground Retail 47.50 sq m (511 sq ft) INDIVIDUAL
t/a W.S Hair Care
5 years from
06/01/2016
£10,750 (05/01/2021)
531
(Kiosk 3)
Ground Retail 47.30 sq m (509 sq ft) LAM JAY VENTURES
LIMITED t/a Lamjay
Venture Mobiles
5 years from
01/02/2008
£10,000 Holding over
(10)
527
(Kiosk 4/5)
Ground Retail 47.70 sq m (513 sq ft) DAVID PLUCK
(NORTHWEST) LIMITED
t/a David Pluck Betting
15 years from
13/03/2008
£18,000 13/03/2013 and
13/03/2018
(12/03/2023)
Totals     2,368 sq m (25,489 sq ft)     £295,750  

(1) For the year ending 31st December 2015, Barclays Bank plc reported pre-tax profits of £2,841,000,000 and a total net worth of £55,845,000,000. (Source: Experian Group 14/09/2016)
(2) For the year ending 2nd January 2016, Greggs Plc reported a turnover of £835,749,000, pre-tax profits of £73,028,000 and a total net worth of £256,026,000. (Source: Experian Group 14/09/2016)
(3) For the year ending 31st March 2015, Speedloan Finance Limited reported a turnover of £42,300,822, pre-tax profits of £5,146,971 and a total net worth of £7,356,323. (Source: Experian Group 14/09/2016)
(4) A license to assign unit 543 is being negotiated.
(5) Under offer to an individual (t/a Kurdish Barbers) for 10 years at £22,500 per annum, further information can be found in the legal pack.
(6) Paddy Power was founded in 1988 and now has 107 shops in the UK and 212 shops in Ireland (Source: paddypower.com 14/09/2016)
(7) The lease for unit 551-553 provides a tenant option to determine on 16/12/2021.
(8) The lease of unit 555 is in the process of being assigned to David Pluck (North West) Limited.
(9) The lease of unit 1 Stanley Grove provides a tenant option to determine on 07/10/2017. Please note that the guarantor is currently paying the rent and trading from the unit.
(10) Terms have been agreed for a new five year lease at £10,750 p.a.x. This is due to complete imminently.

Property Documents

  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    787 KB
    View PDF
  • Site Plan
    Updated Date
    30.10.19
    File Size
    126 KB
    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

Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regent Street
London
W1B 2AD
Alexy Pemberton 020 7355 6008alexy.pemberton@hamlins.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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