1 - 3 Market Place
Hyde
Greater Manchester
SK14 2LY

Freehold Bank and Retail Investment with Vacant Upper Parts

Let to tenants including National Westminster Bank plc and Boots UK Ltd
Bank rent to be reviewed to the higher of Open Market Rental Value or a fixed rental increase of 3.75% in 2021
Substantial town centre building totalling approx. 1,597.02 sq m (17,191 sq ft)
Vacant possession of upper parts with change of use potential (subject to consents)
Asset management opportunities including development potential above bank
Opposite the Open Market and Clarendon Square Shopping Centre housing occupiers including Superdrug and Argos
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
23
Auction
21st May 2015
Rent
£119,658 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Important Update Interested?

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Property Information

Location

Miles: 7½ miles south-east of Manchester city centre
Roads: A57, A560, A627, M60 (Junction 24), M67 (Junction 3)
Rail: Hyde Central Railway Station
Air: Manchester Airport

Situation

Hyde is located 7½ miles east of Manchester city centre, situated close to the M67 leading to the M60, the orbital motorway around Manchester. The property occupies a prominent position at the junction of Market Place, Market Street and Clarendon Street in the heart of the town centre. Nearby occupiers include Wilko, William Hill, Poundstretcher, Ladbrokes, J D Wetherspoon, Specsavers, Santander and Halifax Banks. The property faces the open market
and Clarendon Square Shopping Centre housing occupiers including Superdrug, Argos and B&M Bargains.

Tenure

Freehold.

Location

Miles: 7½ miles south-east of Manchester city centre
Roads: A57, A560, A627, M60 (Junction 24), M67 (Junction 3)
Rail: Hyde Central Railway Station
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises a bank arranged on the ground floor and basement, a shop arranged on the ground and first floors, a kiosk arranged on the ground floor and self-contained office accommodation on the second and third floors.

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 not applicable to this lot.

Viewings

There will be a single block viewing for this property. All interested parties must register their details with the Auctioneers prior to the viewing date and provide identification on site. Please contact Will Moore. Email: will.moore@acuitus.co.uk

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Floor	Use	Floor Areas (Approx)	Tenant	Term	Rent p.a.x.	Reviews/(Reversion)
Basement Ground	Ancillary Banking Hall	125.51 sq m 294.77 sq m	(1,351 sq ft) (3,173 sq ft)	NATIONAL WESTMINSTER BANK PLC (1)	Approx 22 years from 13/12/2006 until 11/12/2028	£59,873	11/12/2021 (2) 11/12/2026
Ground First	Retail Ancillary	294.19 sq m 244.50 sq m	(3,167 sq ft) (2,632 sq ft)	BOOTS UK LIMITED (3)	5 years from 15/11/2012	£53,750	(14/11/2017)
Ground	Retail	12.45 sq m	(134 sq ft)	M & S P AMJAD (t/a News Spot)	10 years from 11/06/2012 until 2022	£6,035	11/06/2017
Second Third	Office Office	307.70 sq m 317.90 sq m	(3,312 sq ft) (3,422 sq ft)	VACANT POSSESSION	-	-	-
Totals		1,597.02 sq m	(17,191 sq ft)			£119,658

Floor

Use

Floor Areas (Approx)

Tenant

Term

Rent p.a.x.

Reviews/(Reversion)

Basement
Ground

Ancillary
Banking Hall

125.51 sq m
294.77 sq m

(1,351 sq ft)
(3,173 sq ft)

NATIONAL WESTMINSTER BANK PLC (1)