19 - 21 King Edward Street Macclesfield Cheshire SK10 1AF

19 - 21 King Edward Street
Macclesfield
Cheshire
SK10 1AF

Freehold Office Investment

Let to McCann Complete Medical Limited (Guaranteed by Interpublic Limited) on a recent 10 year lease (no breaks) until 2026
Approximately 1,705.77 sq m (18,361 sq ft)
RPI linked rental increase subject to a minimum of 1% and a maximum of 3%
Car Parking for approximately 32 cars
Neighbouring occupiers include Job Centre Plus, Macclesfield Chamber of Commerce and Lloyd Bolam Insurance Brokers
Producing £254,000 per annum exclusive subject to note (3)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
55
Auction
13th October 2016
Rent
£254,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On behalf of a Major Fund

Interested?

Expand
Photos
Map

Freehold Office Investment

Let to McCann Complete Medical Limited (Guaranteed by Interpublic Limited) on a recent 10 year lease (no breaks) until 2026
Approximately 1,705.77 sq m (18,361 sq ft)
RPI linked rental increase subject to a minimum of 1% and a maximum of 3%
Car Parking for approximately 32 cars
Neighbouring occupiers include Job Centre Plus, Macclesfield Chamber of Commerce and Lloyd Bolam Insurance Brokers
Producing £254,000 per annum exclusive subject to note (3)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 55
Auction 13th October 2016
Rent £254,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On behalf of a Major Fund

Property Information

Location

Miles: 20 mile south of Manchester, 35 miles east of Chester, 30 miles south-west of Sheffield
Roads: A523, A536, A537
Rail: Macclesfield Railway Station
Air: Manchester Airport

Situation

Macclesfield is an affluent Cheshire market town situated on the western edge of the Peak District National Park and some 20 miles south of Manchester. The property is situated in the heart of the town centre on the northern side of King Edward Street and close to its junction with Churchill Way in Macclesfield Town Centre. Neighbouring occupiers include Job Centre Plus, Macclesfield Chamber of Commerce and Lloyd Bolam Insurance Brokers. The property is situated some 300 metres to the north of the Grosvenor Shopping Centre.

Tenure

Freehold.

Location

Miles: 20 mile south of Manchester, 35 miles east of Chester, 30 miles south-west of Sheffield
Roads: A523, A536, A537
Rail: Macclesfield Railway Station
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises two interlinked office buildings, one a refurbished period building of approximately 586.20 sq m (6,310 sq ft) and the other a modern office building of approximately 1,111.50 sq m (11,964 sq ft). Purpose built in 2000 for the current tenant, the property benefits from central heating, perimeter trunking, suspended ceilings and car parking to the rear for approximately 32 cars.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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	Review
19 King Street	Ground Ground First Second Third	Office Reception Office Office Office	156.17 sq m 69.58 sq m 325.90 sq m 325.90 sq m 240.43 sq m	(1,68 1 sq ft) (749 sq ft) (3,508 sq ft) (3,508 sq ft) (2,588 sq ft)	MCCANN COMPLETE MEDICAL LIMITED GUARANTEED BY INTERPUBLIC LIMITED (1)	10 years from 29/01/2016 until 28/01/2026 on a full repairing and insuring lease (4)	£254,000	29/01/2021 linked to RPI (2)
21 King Street	Ground Ground Basement First First Second	Office Ancillary Ancillary Office Ancillary Office	182.65 sq m 21.92 sq m 22.30 sq m 194.63 sq m 34.37 sq m 154.21 sq m	(1,966 sq ft) (236 sq ft) (240 sq ft) (2,095 sq ft) (370 sq ft) (1,660 sq ft)			£254,000	29/01/2021 linked to RPI (2)
TOTAL			1,728.06 sq m	(18,601 sq ft)			£254,000

(1) For the year ending 31st December 2014, McCann Complete Medical Limited reported a turnover of £30,549,000, pre-tax profits of £7,166,000 and a total net worth of £47,059,000. (Source: www.riskdisk.com 22/06/2016). For the year ending 31st December 2014, Interpublic Limited reported pre-tax profits of £29,550,000 and a total net worth of £69,815,000. (Source: www.riskdisk.com 22/06/2016).
(2) The rent review is linked to the Retail Price Index (RPI) subject to a minimum of 1% and a maximum of 3%. See schedule 3 of the lease.
(3) Under the terms of the lease, the rent commencement date is the 29th January 2018. The seller will pay the buyer a sum equivalent to the rent that would have been payable from completion of the sale until 28th January 2018 in the absence of the delayed rent commencement date in the lease.
(4) Under the terms of the lease the tenant shall have no obligation to repair the boundary wall. See clause 3.4 of the lease.