Property Information
Address:
Enterprise Trading Estate, Lees Street, Gorton, Manchester, Greater Manchester
, M18 8QU
, Greater Manchester
, United Kingdom
Price: Property no longer available.
Size: 92 to 3486 sqm
Primary Category: Automotive
All Categories:
Warehouse, Industrial, Automotive,
Property Ref/Movehut: MH322095
Property Ref/Agent: Enterprise Trading Estate
*Please use the agent ref when calling the agent directly.
Property description
Investment Summary
- Industrial warehouse investment opportunity
- Multi let industrial estate 2 miles from Junction 23 and 24 of the M60 motorway and 2 miles from Manchester City Centre
- Total Rent: £84,085 per annum
- Attractive net initial yield of 7.95%
- Capital value of £26.64 psf
- Offers for the estate to be in excess of £1million (One Million Pounds) exclusive of VAT, net of costs
Location
The investment is situated on Lees Street opposite Gorton Railway Station and is accessed from Ashton Old Road (A635) which is one of the main arterial roads east from Manchester City Centre.
The premises are approximately 2 miles from Junction 23 and 24 of the M60 motorway which provides access to the national motorway network. The estate is also approximately 2 miles from Manchester City Centre.
Gorton Railway station serves local rail routes and provides direct access in to Manchester Piccadilly Train Station which in turn connects to the national rail routes on the West Coast Mainline.
The Estate is situated in close proximity to the recent Lime Square Retail Park development on Ashton Old Road with a wide range of retail and leisure occupiers including, Morrisons, B&M Bargains, Poundland, Wynsors, The Gym Group and McDonalds as well as other retailers such as Lidl and Aldi also in close proximity.
Description
The investment comprises fully secure self-contained estate that includes 14 interconnecting industrial/warehouse and office accommodation comprising:
- PVC coated steel cladding to walls and roof
- Steel and timber frame construction
- Concrete floor
- Roller shutter door access to each unit
- Eaves height up to 7m
- Recently refurbished
- Secured estate
- Heating and lighting
- Units from 1,000 up to 37,530 sq ft.
Tenancy
The estate is multi let and income producing with a total rental income totalling £84,085 per annum.
All leases are held on annual rolling leases.
Proposal
We are instructed to seek offers in excess of £1million (One Million Pounds) subject to contract and exclusive of VAT which reflects a net initial yield of 7.95%
Tenure
We understand that the property is held on a freehold basis.
Energy Performance Certificate
An Energy Performance Certificate for each property has been commissioned and is available on request.
VAT
The Properties is elected for VAT and it is the intention to treat this transaction as a Transfer of a Going Concern (TOGC).
Occupational Market
Gorton has traditionally been a local market benefiting from being located close to Ashton Old Road, one of the main arterial routes in to Manchester City Centre from the M60 Motorway.
Located to the East of Manchester City Centre, local trading estates such as Smithfield Market, as well as Piccadilly Trading Estates have thrived due to demand for companies wanting to be in and around the City Centre but maintaining good access to the local and national motorway networks.
East Manchester has seen a large amount of redevelopment in recent years with leisure and retail developments on Ashton Old Road including the development of Sports city along with the regeneration completed by Manchester City Football Club.
There has been strong demand for this type of accommodation within the area from local companies. There has been limited new build accommodation constructed in the last five years which has led to a shortage of available similar accommodation.
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