Fully let industrial investment available for sale
Location
The subject property forms part of the prominent Rugby Park development located on the corner of Bletchley Road and Battersea Road within the heart of the established Heaton Mersey Industrial Estate.
Rugby Park is accessed from the A5145 Didsbury Road, Station Road and in turn Vale Road.
Access to the national motorway network is provided by Junction 3 of the M60 2 miles to the south-west accessed via the A5145 and A34 Kingsway.
J1 / J3 of the M60 Motorway is located 2 miles to the east. Manchester City Centre is approximately 6.5 miles to the north and Manchester International Airport is approximately 7 miles to the south-west.
There is an excellent train service providing services to Manchester Piccadilly and London Euston and the East Didsbury Metrolink tram stop is within ½ mile.
Accommodation
The property comprises the following Gross Internal Area:
Ground Floor: 3,923 sq ft (364.45 sq m)
First Floor Original Offices: 1,929 sq ft (179.28 sq m)
Base Total: 5,852 sq ft (543.73 sq m)
Additional Mezzanine (tenant’s fixture): 1,993 sq ft (185.18 sq m)
Overall Total: 7,845 sq ft (728.91 sq m)
Terms
Offers are sought in the region of £900,000 (Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a Net Initial Yield of circa 6.31%, after costs, which equates to £150 per sq ft.
Specification
• End-terrace industrial / warehousing unit comprising a base total of 5,852 sq ft (543.73 sq m) with an additional tenant’s installed mezzanine of 1,993 sq ft
• Located in a highly sought after industrial estate, 2 miles from the centre of Stockport and the M60 motorway
• The property is held long leasehold under title number MAN46390 for a period of 999 years from 1st December 2005
• Leased to Costumes with Character Limited for a term of 10 years expiring May 2034
• Costumes with Character Limited have been in occupation of the subject property for 19 years, since 2006
• Current annual rental of £60,000 per annum equates to £10.25 per sq ft (on the basis of the original base total)
• Estimated rental value of £12.00 per sq ft
• Offers are sought in excess of £900,000 (Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT
• A purchase at this level reflects a Net Initial Yield of circa 6.31%, after costs, which equates to £150 per sq ft