Property Description

A mixed use commercial property which is presently utilised as ground floor cafe and a one bedroom first floor flat above. Both units are currently let and achieving a combined gross income of £17,400 per annum representing a healthy return, approaching nearly 15.8% based against the quoted guide price. Sited in a prominent road side position, opposite a Tesco Express supermarket and being ideally situated being within close proximity of all local amenities and direct Manchester City Centre transport links. The ground floor comprises a cafe frontage with kitchen whilst the flat above (with separate entrance) offers an open plan living area/kitchen, double bedroom and shower room. The internal photos have been provided by the seller and are historic in nature and provided for general guidance only. Income Details: Flat - Let at £650 pcm. We are informed the same tenant has been in occupation since 2021. Shop - Let at £800 pcm. We are informed the retail unit has been continually occupied for 11 years. The current tenant is on a lease with an annual increase clause of RPI+5.9%. Note: The property is not elected for VAT and we believe Small business rates relief can be claimed on the commercial unit. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.

Leasehold Information

The property is a virtual freehold held on a lease for a term of 990 years from 14th March 1882 with ground rent of £1.98 per year fixed from 1882. Any leasehold information will be confirmed in the lease documents within the legal pack.

Note

Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.

Tenure

Leasehold

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