Retail let to Lloyds Pharmacy Ltd until 2020 (subject to option)
Includes a 6 bedroom flat currently let at only £34.61 per room per week
Opposite Manchester University’s major Fallowfield campus
Busy student location
Active management potential
Lot 29
Auction 22nd May 2014
Rent £31,300 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
2 miles from Manchester city centre
17 miles north of Macclesfield
39 miles east of Liverpool
Roads
M60, A6, A34
Rail
Levenshulme Railway Station, Manchester Piccadilly
Air
Manchester International Airport, Liverpool John Lennon Airport
Situation
The property is situated in a busy student area directly opposite the major Fallowfield campus, the largest of the university’s residential campuses. Manchester University has 39,000 full time students, the largest in the UK, a substantial proportion of which reside at Fallowfield, ‘the student suburb of Manchester’.
The property is located two miles south of the city centre and benefits from excellent communication links. Neighbouring occupiers include Domino’s Pizza and the Premier Convenience Store.
Tenure
Freehold.
Location
Miles
2 miles from Manchester city centre
17 miles north of Macclesfield
39 miles east of Liverpool
Roads
M60, A6, A34
Rail
Levenshulme Railway Station, Manchester Piccadilly
Air
Manchester International Airport, Liverpool John Lennon Airport
Situation
The property is situated in a busy student area directly opposite the major Fallowfield campus, the largest of the university’s residential campuses. Manchester University has 39,000 full time students, the largest in the UK, a substantial proportion of which reside at Fallowfield, ‘the student suburb of Manchester’.
The property is located two miles south of the city centre and benefits from excellent communication links. Neighbouring occupiers include Domino’s Pizza and the Premier Convenience Store.
Tenure
Freehold.
Description
The property comprises ground floor double fronted retail accommodation and a self-contained 6 bedroom maisonette on the upper floors. The maisonette is accessed from the rear of the property. The retail tenant also occupies the adjacent property which does not form part of the property being offered for sale.
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 ground floor double fronted retail accommodation and a self-contained 6 bedroom maisonette on the upper floors. The maisonette is accessed from the rear of the property. The retail tenant also occupies the adjacent property which does not form part of the property being offered for sale.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground Basement
Pharmacy Ancillary
05.63 sq m 39.67 sq m
(1,137 sq ft) (427 sq ft)
LLOYDS PHARMACY LTD (1)(2)
15 years from 01/01/2006 until 31/12/2020 (3)
£20,500
01/01/2016
First & Second
Residential
6 Bedrooms
INDIVIDUALS
Assured Shorthold Tenancy from 19/12/2013 until 30/06/2014
£10,800
Totals
145.28 sq m
(1,564 sq ft)
£31,300
(1) Lloyds Pharmacy Ltd was incorporated in 1963 and operate from over 1,650 pharmacies nationwide and employ around 17,000 staff (www.lloydspharmacy.com) (2)For the year ending 31st December 2013, Lloyds Pharmacy Ltd reported a turnover of £ 1,720,857,000, pre-tax profits of £17,967,000 and a total net worth of £54,994,000. (Source: www.riskdisk.com 22/04/2014) (3)The lease provides a tenant option to determine the lease on 1st January 2016 on giving 9 months’ notice.
