2 The Quadrant Green Lane Heywood Greater Manchester OL10 1NG

2 The Quadrant
Green Lane
Heywood
Greater Manchester
OL10 1NG

Freehold Modern Office Investment (plus Vacant Land)

Modern Office Building
Approximately 9,042 sq ft with Car Parking
Adjoining Land with Previous Outline Planning Consent
Redevelopment Opportunities (subject to leases, planning and consents)
Established Business Park 3 minutes’ drive from Junction 19 of M62 Motorway
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
43
Auction
25th May 2017
Rent
£74,214 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Modern Office Investment (plus Vacant Land)

Modern Office Building
Approximately 9,042 sq ft with Car Parking
Adjoining Land with Previous Outline Planning Consent
Redevelopment Opportunities (subject to leases, planning and consents)
Established Business Park 3 minutes’ drive from Junction 19 of M62 Motorway
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 43
Auction 25th May 2017
Rent £74,214 per Annum Exclusive
Status Sold Post
Price
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 6 miles north-west of Oldham, 8 miles north-east of Manchester City Centre
Roads: A58, M62 (Junction 19)
Air: Manchester Airport

Situation

The property is situated in a mixed residential and commercial area on the western side of Green Lane, which connects directly to the major A58 road, with easy access to Rochdale and Heywood town centres. Nearby occupiers include Aldi, Kwik Fit, Travis Perkins, Four Seasons Healthcare and a number of independent occupiers. Junction 19 of the M62 motorway is located nearby.

Tenure

Freehold.

Location

Miles: 6 miles north-west of Oldham, 8 miles north-east of Manchester City Centre
Roads: A58, M62 (Junction 19)
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises a detached office building arranged on ground, first and second floors. The property benefits from CAT II lighting, suspended ceilings and air conditioning. There is also car parking on site. The property includes vacant land to the west of the building, with a site area of about 0.5 acres.

VAT

VAT is applicable to this lot.

Planning

Outline planning permission was granted in 2006 for the erection of a three storey office block with underground car parking to the land to the west of the property.

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.

Planning

Outline planning permission was granted in 2006 for the erection of a three storey office block with underground car parking to the land to the west of the property.

Completion Period

Six week completion

EPC

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

Tenancy & Accommodation

Unit	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Part Ground	Offices/Ancillary	157.38 sq m	(1,694 sq ft)	MMC DEVELOPMENTS LIMITED	5 years from 01/08/2012	£17,000	31/07/2017 (1)
Part Ground	Offices/Ancillary	120.77 sq m	(1,300 sq ft)	HEADS RECRUITMENT LIMITED (2)	3 years from 18/04/2016	£13,000	17/04/2019
Part First	Offices/Ancillary	157.94 sq m	(1,700 sq ft)	VACANT	–	–	–
Part First	Offices/Ancillary	120.77 sq m	(1,300 sq ft)	BLUEGRAIN LIMITED (3)	4 years from 14/05/2015	£12,000	13/05/2019
Second	Offices/Ancillary	283.17 sq m	(3,048 sq ft)	N-SAT LIMITED (4)	5 years from 14/11/2016 (5)	£32,214 (6)	13/11/2021
Land		0.5 Acres		VACANT
Totals		840.03 sq m	(9,042 sq ft)			£74,214

(1) The lease to MMC Developments Limited is being extended so that the lease will expire on 31st March 2020. This lease has been agreed and will be completed prior to the auction.
(2) For the year ending 31st December 2015, Heads Recruitment Limited reported a turnover of £43,816,325, pre-tax profits of £1,935,511 and a total net worth of £7,775,728 (Source: Experian Group 27/04/2017).
(3) Bluegrain Limited offer a premier security guard service around Manchester (Source: www.bluegrainuk.com 27/04/2017).
(4) For the year ending 31st December 2015, N-Sat Limited reported a turnover of £3,652,791 (Source: Experian Group 27/04/2017).
(5) The lease is subject to a tenant only break option on 13th November 2019.
(6) The lease provides for a fixed rental increase to £32,214 per annum on 27th November 2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £32,214 per annum from completion of the sale.