Single let distribution warehouse investment in the centre of Rochdale, Greater Manchester.
Rochdale is a major town in Greater Manchester located approximately 11 miles from Manchester City Centre.
Situated in a well-established industrial area with minimal vacancy
Excellent transport communications approximately 2 miles from Junction 20 of the M62 Motorway which connects the site with the M60 Motorway and the wider region.
The property comprises a distribution warehouse with a separate staff car park area.
Total floor area of 25,512 sq ft.
Large site of 2.26 acres equating to a low site cover of 25%.
Let to Royal Mail Group Limited.
Term of 10 years from 2nd December 2018, expiring
1st December 2028 (3.8 years unexpired).
Current passing rent of £170,000 per annum (£6.66 psf) on the unit and £37,041.40 per annum (£56,986 per acre) on the additional hardstanding.
Total current passing rent of £207,041 per annum. Estimated rental value of £259,224 per annum (£8.25 psf / £75,000 per acre).
Held Long Leasehold for a term of 250 years from 10th October 2019 at a peppercorn ground rent (244 years unexpired).
