77-81 George Street Altrincham Greater Manchester WA14 1RN

77-81 George Street
Altrincham
Greater Manchester
WA14 1RN

Freehold Retail and Leisure Investment with Potential

  • Majority let to The Works Stores Limited
  • Prominent town centre location
  • Residential potential (subject to consents)
  • Nearby occupiers include Holland & Barrett, Thomas Cook, Card Factory and Nando’s
  • Lot
    92
  • Auction
    18th October 2018
  • Rent
    £67,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £710,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Fund Manager
Important Update
  • Expand
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* More information on the term "guide" can be found here

Freehold Retail and Leisure Investment with Potential

  • Majority let to The Works Stores Limited
  • Prominent town centre location
  • Residential potential (subject to consents)
  • Nearby occupiers include Holland & Barrett, Thomas Cook, Card Factory and Nando’s
  • Lot 92
  • Auction 18th October 2018
  • Rent
  • Status Sold
  • Price £710,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Fund Manager

Property Information

Location
Miles
9 miles south-west of Manchester city centre
Roads
A56, M56 (Junction 8)
Rail
Altrincham
Air
Manchester Airport
Situation

Althrincham is an affluent town located 9 miles south-west of Manchester city centre. The property is situated on the pedestrianised George Street, close to its junction with Cross Street. Nearby occupiers include Holland & Barrett, Thomas Cook, Card Factory and Nando’s.

Tenure

Freehold.

Location
Miles
9 miles south-west of Manchester city centre
Roads
A56, M56 (Junction 8)
Rail
Altrincham
Air
Manchester Airport
Situation

Althrincham is an affluent town located 9 miles south-west of Manchester city centre. The property is situated on the pedestrianised George Street, close to its junction with Cross Street. Nearby occupiers include Holland & Barrett, Thomas Cook, Card Factory and Nando’s.

Tenure

Freehold.

Description

The property comprises two ground floor retail units with 77-79 benefitting from first floor ancillary accommodation. The remaining first floor comprises a self-contained bar/club which is accessed via the rear of the property.

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 comprises two ground floor retail units with 77-79 benefitting from first floor ancillary accommodation. The remaining first floor comprises a self-contained bar/club which is accessed via the rear of the property.

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 Reversion
77-79 Ground/
First
Retail
Ancillary
431.53 sq m
(4,645 sq ft)
THE WORKS
STORES LIMITED
(1)
5 years from
12/11/2014
£40,000 11/11/2019
77 First Bar
207.26 sq m
(2,231 sq ft)
PARISIAN BISTRO
LIMITED
t/a Totties
5 years from
21/09/2014
(2)
£12,000 20/09/2019
81 Ground Café
65.03 sq m
(700 sq ft)
INDIVIDUAL
t/a Eat Fresh!
5 years from
03/08/2018
(3)
£15,000 (4) 02/08/2023
Total
703.82 sq m
(7,576 sq ft)
    £67,000  

(1) For the year ending 29 Apr 2018, The Works Stores Limited reported a turnover of £192,100,000, pre-tax profits of £7,537,000 and a total net worth of £29,273,000 (Source: Experian Group 18/09/2018).
(2) The lease provides a landlord only option to determine subject to three months’ notice.
(3) The lease provides a tenant option to determine on 02/08/2021. There is a penalty of £5,000 payable by the tenant if they exercise the break option.
(4) The tenant is currently benefitting from a rent free period due to expire on 02/08/2019. On expiry, the rent payable will be £7,500 pa with a fixed rental increase to £15,000 on 03/08/2020. The seller has agreed to adjust the completion monies so the sale will effectively produce £15,000 from the completion of sale?

Property Documents

  • Catalogue Page
    Updated Date
    28.10.19
    File Size
    977 KB
    View PDF
  • Site Plan
    Updated Date
    28.10.19
    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

Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regent Street
London
W1B 2AD
John Leasure +44 (0) 20 7355 6073john.leasure@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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