Property Information
Address:
33-35 High Street, Cheadle
Price: Property no longer available.
Size: 5659 sq ft525 sqm
Primary Category: Investment
All Categories:
Investment,
Property Ref/Movehut: MH431391
Property Ref/Agent: 4901 - 33-35 High Street, Cheadle
*Please use the agent ref when calling the agent directly.
Property description
Position: Cheadle is an affluent commuter town situated within the Metropolitan Borough of Stockport and forms part of the larger Greater Manchester conurbation. It is located approximately 5 miles (8 km) South of Manchester City Centre and 2.5 miles (4 km) East of Stockport town centre. Cheadle has excellent road communications, being situated adjacent to the A34, one of the main arterial routes leading directly to Manchester City Centre. In addition, Cheadle is situated adjacent to Junctions 2 & 3 of the M60 Motorway and is in close proximity to the M56 Motorway. Gatley and Cheadle Hulme Railway Stations offer a direct train service to Manchester City Centre. The property is prominently situated in a prime retail location on High Street which forms the main retail provision within Cheadle. Occupiers in Cheadle along the high street include Pizza Express, Costa Coffee, Boots, Sainsburys, Tesco Express and The Bath Store. Description: The property comprises a two storey, mid terrace building substantially refurbished in 2003 of brick/blockwork construction beneath a pitched slate roof. Double personnel doors give access from the front and the unit is carpeted and has a suspended tiled ceiling with recessed fluorescent strip lighting. The shop is air conditioned and security cameras have been fitted internally. Partitioning at the rear of the shop has been erected to create a goods/loading area, WC facilities and an office. Double personnel fire exit doors with an external roller shutter over provide access on to the Local Authorities public pay & display car park. The first floor comprises ancillary storage space and staff canteen. The canteen is carpeted with painted blockwork and benefits from a suspended tile ceiling with recessed fluorescent lighting. Accommodation: Approximate net internal areas- Ground Floor Sales 246.5 sqm (2,653 sqft) ITZA 110.2 sqm (1,186 sqft) Ground Floor Storage 7.30 sqm (79 sqft) First Floor 161.7 sqm (1,741 sqft) Size: 5,659ft2 (526m2) Tenure: Freehold Asking Price:
600,000 V.A.T.: The property is subject to VAT. Comments: We have been instructed to seek offers in excess of 600,000 subject to contract and exclusive of VAT. This reflects a net initial yield of 7.09%, assuming purchasers costs of 5.8%. The property is subject to a lease dated 20th July 2004 for a term of 15 years to Clinton Cards (Essex) Limited. This lease was assigned in October 2012 to AG Retail Cards Limited. The passing rent is 45,000 per annum and the lease is on full repairing and insuring terms with upwards only rent reviews every 5 years to open market value. AG Retail Cards Limited (Company Registration 08087453) were incorporated on the 29th May 2012 having acquired the brand and core assets of Clinton Cards. Operating out of 8 sites nationally, AG Retail Cards Limited secured a turnover of 153,369,000 and a pre-tax profit of 10,303,000 in their latest accounts dated 2nd February 2013. Legal Fees: Each party is to be responsible for its own legal fees.
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