Farmfoods & Iceland Armitage Avenue, Little Hulton Manchester Greater Manchester M38 0EH

  • Farmfoods & Iceland<br>Armitage Avenue, Little Hulton<br>Manchester<br>Greater Manchester<br>M38 0EH

Farmfoods & Iceland
Armitage Avenue, Little Hulton
Manchester
Greater Manchester
M38 0EH

Modern Freehold Retail Investment

  • Let to Farmfoods Ltd until 2030 (subject to tenant option) and Iceland Foods Ltd until 2028
  • Prominent frontage to the busy A5082 close to its junction with the A6 Manchester Road
  • Forms part of a retail park that includes a substantial Morrisons Supermarket
  • Excellent car parking provisions
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    9
  • Auction
    12th February 2015
  • Rent
    £96,700 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,260,000
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Modern Freehold Retail Investment

  • Let to Farmfoods Ltd until 2030 (subject to tenant option) and Iceland Foods Ltd until 2028
  • Prominent frontage to the busy A5082 close to its junction with the A6 Manchester Road
  • Forms part of a retail park that includes a substantial Morrisons Supermarket
  • Excellent car parking provisions
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 9
  • Auction 12th February 2015
  • Rent £96,700 per Annum Exclusive
  • Status Sold
  • Price £1,260,000
  • Sector
    Retail Warehouse
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
9 miles north-west of Manchester City Centre 7 miles north-west of Salford 4 miles south of Bolton
Roads
A5082, A6, M61 (Junction 4)
Rail
Walkden (direct to Manchester Victoria)
Air
Manchester Airport
Situation

The property, which forms part of a 2005 retail park development, is prominently situated on the main A5082 close to its junction with the A6. Junction 4 of the M61 motorway is situated approximately 2 miles north-east.
The property lies adjacent to a substantial Morrisons Supermarket.

Tenure

Freehold.

Location
Miles
9 miles north-west of Manchester City Centre 7 miles north-west of Salford 4 miles south of Bolton
Roads
A5082, A6, M61 (Junction 4)
Rail
Walkden (direct to Manchester Victoria)
Air
Manchester Airport
Situation

The property, which forms part of a 2005 retail park development, is prominently situated on the main A5082 close to its junction with the A6. Junction 4 of the M61 motorway is situated approximately 2 miles north-east.
The property lies adjacent to a substantial Morrisons Supermarket.

Tenure

Freehold.

Description

The property comprises a detached, single storey retail warehouse, which has been split and let to two tenants. The property benefits from generous car parking to the front and a site area of approximately 0.39 hectares (0.95 acres).

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here

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 a detached, single storey retail warehouse, which has been split and let to two tenants. The property benefits from generous car parking to the front and a site area of approximately 0.39 hectares (0.95 acres).

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here

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. Reviews
1 Ground Retail
431.72 sq m
(4,647 sq ft)
 FARMFOODS LIMITED (1) 25 years from 04/04/2005 until 03/04/2030
on a full repairing and insuring lease (2)		 £43,500 03/04/2010 and five yearly
2-3 Ground Retail
598.48 sq m
(6,442 sq ft)
 ICELAND FOODS LIMITED (3) 15 years from 28/05/2013 until 27/05/2028
on a full repairing and insuring lease (4)		 £53,200 28/05/2018
28/05/2023
Totals    
1,030.20 sq m
(11,089 sq ft)
     £96,700  

(1) For the year ending 28th December 2013, Farmfoods Limited reported a turnover of £689,129,000, pre-tax profits of £15,110,000 and a total net worth of £67,085,000. (Source: www.riskdisk.com 06/01/2015)
(2) Under the terms of the lease the tenant has an option to determine on 4th April 2020, subject to not more than 18 months but not less than 12 months’ prior written notice.
(3) For the year ending 28th March 2014, Iceland Foods Limited reported a turnover of £2,699,261,000, pre-tax profits of £161,459,000 and a net worth of £656,381,000. (Source www.riskkdisk.com 06/01/2015)
(4) Under the terms of the lease the landlord has an option to determine on 28th May 2023, subject to 3 months’ prior written notice.

Contacts

Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Harry Loffman 01132 832 500harry.loffman@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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