Freehold Convenience Store and Takeaway Investment
Two retail units totally 3,577 sq ft in popular Manchester suburb
Majority let to Co-operative Group Limited on 10 year lease from 2015
Prominent corner position in a densely populated residential area
Opposite new housing development of 154 homes
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 73
Auction 13th October 2016
Rent £35,400 per Annum Exclusive
Status Sold
Price £460,000
Sector Supermarket
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
5 miles south-west of Rochdale, 11 miles north of Manchester
Roads
M62, M66
Rail
Bury Bolton Street Rail
Air
Manchester Airport
Situation
The property is prominently situated on the western side of Sutherland Road, at its junction with Argyle Street, some 2 miles from Heywood town centre. The property benefits from being
situated in a densely populated residential area opposite a new development of 154 homes.
Tenure
Freehold.
Location
Miles
5 miles south-west of Rochdale, 11 miles north of Manchester
Roads
M62, M66
Rail
Bury Bolton Street Rail
Air
Manchester Airport
Situation
The property is prominently situated on the western side of Sutherland Road, at its junction with Argyle Street, some 2 miles from Heywood town centre. The property benefits from being
situated in a densely populated residential area opposite a new development of 154 homes.
Tenure
Freehold.
Description
The property comprises two ground floor retail units which currently operate as a convenience store and an A5 takeaway.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises two ground floor retail units which currently operate as a convenience store and an A5 takeaway.
VAT
VAT is not 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
Reviews/(Reversion)
74, 76 & 78
Ground
Convenience Store
281.59 sq m
(3,031 sq ft)
CO-OPERATIVE GROUP LTD t/a Co-operative Food Store (1) (2)
10 years 07/02/2015 until 06/02/2025 (3)
£29,400
07/02/2020
72
Ground
A5 Takeaway
50.73 sq m
(546 sq ft)
INDIVIDUAL t/a Adam’s
20 years from 18/10/2010 until 17/10/2030
£6,000
18/10/2020 18/10/2025
Totals
332.32 sq m
(3,577 sq ft)
£35,400
(1) For the year ending January 2016, The Co-operative Group Limited reported a turnover of £9,301,000,000, pre-tax profits of £23,000,000 and a total net worth of £2,006,000,000. (Source: Experian Group 12/09/2016) (2) The tenant has submitted a licence to assign the lease to Martin McColl Limited. Please refer to the legal pack for further information. (3) The lease provides for a tenant option to determine on 07/02/2020.