516 Wilbraham Road, Chorlton-cum-Hardy, Manchester M21 9AW

Manchester, M21 9AW

Sold

Price £320,000

Rent (pa) £26,500

Yield 8%

Investment Summary

Rare freehold leisure opportunity in south Manchester suburb of Chorlton-cum Hardy.
Chorlton is an affluent and primarily residential suburb located approximately 4 miles southwest of Manchester City Centre.
Total floor area of 1,060 sq ft ground floor sales area and 305 sq ft basement storage.
The upper floors are sold off on a Long Leasehold basis for a term of 125 years from 2nd March 2015.
The initial ground rent of £100 per annum rises by £50 each subsequent 25 years with the next increase in March 2040.
Ground and Basement let to Yane Foods Limited.
10-year FRI lease (subject to Schedule of Condition) from 22nd February 2023, expiring 21st February 2033 (8.67 years unexpired).
Tenant only break clause on the fifth anniversary.
Current rent of £26,500 per annum.
5 yearly upward only open market rental value reviews.