735 Wilmslow Road, Didsbury M20 6WF Prime Retail Unit Investment

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Philomena Nicholson
5 years ago
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1 Prime Retail Unit Investment

Executive Summary An opportunity to acquire a prominent retail unit in the affluent South Manchester suburb of Didsbury Prime location fronting Wilmslow Road in Didsbury Village Let to Victoria

2 Executive Summary An opportunity to acquire a prominent retail unit in the affluent South Manchester suburb of Didsbury Prime location fronting Wilmslow Road in Didsbury Village Let to Victoria Highfield Jewellers by way of a ten year lease dated 29 August 2014, subject to a tenant s option to determine on the fifth anniversary of the term Lease subsequently assigned to RFH Global Limited, t/a Three Little Pigs Rent passing of 28,000 per annum Freehold Offers are sought in excess of 350,000 (Three Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 7.7%, after allowing for purchasers costs

3 Location M65 M6 M61 M66 M62 The village of Didsbury is one of Manchester s most sought after residential locations. It is a busy and affluent suburb of South Manchester, located approximately 5.4 miles (8.7 km) south of Manchester city centre. It benefits from excellent transport links, situated approximately 1.5 miles (2.4 km) from junctions 3 & 4 of the M60 Orbital Motorway. In addition, these junctions form the confluence of the M60, the M56 and the A34. Didsbury also benefits from excellent rail and tram connections. The village is serviced by East Didsbury Train Station, on the line between Manchester Piccadilly and Manchester airport, in addition to the Metrolink line which links Didsbury to the City Centre. M57 M58 M56 M60 MANCHESTER M62 M6 M60 M56 J5 M60 Manchester Airport M&S FOOD GUSTO WILMSLOW ROAD WARBURTON ST. SCHOOL LANE COSTA COFFEE KING S LYNN CLOSE ALBERT HILL STREET CO-OP TRAVEL POST OFFICE OGDEN ST. OLD OAK to Chorlton & Manchester WILLIAM STREET ELM STREET GROVE BEAVER RD SCHOOL LANE DIDSBURY VILLAGE WINIFRED ROAD to East Didsbury OLIVE SHAPLEY AVENUE to East Didsbury Didsbury Primary School

4 Situation The property occupies a prime position fronting Wilmslow road in Didsbury Village. Other occupiers within the parade include Greggs, Toni & Guy and Bridgefords. In addition, the immediate locality includes a good range of bars, restaurants and retailers, including representation from national retailers such as Boots, M&S Simply Food, Natwest, HSBC and Co-Op.

Description Accommodation The property itself forms a ground floor retail unit with ancillary storage and preparation space.

The first floor is accessed from within the retail space and provides ancillary office and staff accommodation, including a kitchen and

Access from the yard to the rear of the property is provided via a small passageway.

5 Description Accommodation The property itself forms a ground floor retail unit with ancillary storage and preparation space. The unit currently trades as a butchers and benefits from an attractive modern fit-out. The first floor is accessed from within the retail space and provides ancillary office and staff accommodation, including a kitchen and male/female WC s. To the rear of the property is a small yard area which currently incorporates a free standing walk in fridge. Access from the yard to the rear of the property is provided via a small passageway. We have been provided with the following Net Internal floor areas, which we understand were calculated in accordance with the RICS Code of Measuring Practice (6th Edition): Area Sq Ft Sq M Ground Floor Sales (ITZA) (420) (39.02) First Floor Ancillary Total

735 Wilmslow Road, Didsbury Tenancy The property is let by way of a ten year lease dated 29 August 2014 to Victoria Highﬁeld

The lease is subject to a tenant s option to determine on the ﬁfth anniversary of the term, subject to 6 months notice.

Little Pigs. There is a rent deposit of 7,000 from RFH Global and a AGA from Victoria Highﬁeld Jewellers Limited.

funds of 134,137, up on the previous year s ﬁgure of 120,170.

6 735 Wilmslow Road, Didsbury Tenancy The property is let by way of a ten year lease dated 29 August 2014 to Victoria Highﬁeld Jewellers Limited, at a rent passing of 28,000 per annum. The lease is subject to a tenant s option to determine on the ﬁfth anniversary of the term, subject to 6 months notice. This lease was subsequently assigned on 6 May 2016 to RFH Global Limited, who currently occupy the property and trade as Three Little Pigs. There is a rent deposit of 7,000 from RFH Global and a AGA from Victoria Highﬁeld Jewellers Limited. Covenant The tenant is only required to post small company accounts and, for the year ending 31 March 2015, they posted shareholders funds of 134,137, up on the previous year s ﬁgure of 120,170. The assignee is a relatively new company, having only been incorporated on 21 January We understand that they are trading well and that their business is growing. Tenure Freehold. VAT The property is not elected for VAT. EPC The property has an EPC Rating of E. A full copy of the EPC report is available upon request.

7 735 Wilmslow Road, Didsbury Proposal Offers are sought in excess of 350,000 (Three Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 7.7%, after allowing for purchasers costs. Further Information For further information please contact: Martin Hamer martin@edwardsandco.com IMPORTANT NOTICE Edwards & Co gives notice to anyone who may read these particulars as follows: 1.These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an oﬀer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4 The photographs appearing in this brochure show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be veriﬁed by any intending purchaser. 7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact. Published January 2017, photography taken December

ONE 13,750 SQ FT (1,277 SQ M) WITH 63 CAR PARKING SPACES MACCLESFIELD ROAD A RARE PRESTIGIOUS SELF-CONTAINED LANDMARK OFFICE BUILDING

ONE 13,750 SQ FT (1,277 SQ M) WITH 63 CAR PARKING SPACES MACCLESFIELD ROAD A RARE PRESTIGIOUS SELF-CONTAINED LANDMARK OFFICE BUILDING ONE Wilmslow Cheshire SK9 1BZ FOR SALE / TO LET A RARE PRESTIGIOUS SELF-CONTAINED LANDMARK OFFICE BUILDING 13,750 SQ FT (1,277 SQ M) WITH 63 CAR PARKING SPACES Description Location Accommodation Gallery