Property Details

The Property Is A Modern Ground Floor Unit Situated Beneath A New Build Residential Development On The East Side Of High Street, In The Heart Of Manchester City Centre. The Entrance To Manchester's Arndale Shopping Centre Is Situated Directly Opposite. High Street Forms The Busy Walkway Between Market Street (the Main Pedestrianised High Street) And Shudehill Transport Interchange. Internally The Unit Comprises A Spacious Open Plan Sales Area And Ancillary Storage To The Rear. Covenant/lease The Property Is Let On A New 10 Year Effective Fri Lease To Xpression Mcr Ltd As Of December 2024 At A Headline Rent Of £49,000 Per Annum. There Is A Tenant Only Break Clause Exercisable On The 5th Anniversary. - The Tenant Is A Prominent Supplier Of Hair And Beauty Care Products Established In 2021. - Xpression Have A Low-risk Experian Credit Score Of 82. Their 2023 Accounts Show A Turnover In Excess Of £1.2m. - There Are Rent Reviews On The 3rd And 6th Anniversaries, Upwards Only To Market Rent. Quoting Price Offers In Excess Of £600,000. A Purchase At This Level Would Represent A Net Initial Yield Of 7.8%, Assuming Standard Purchaser's Costs At 5.45%. The Vendor Will Provide A Rental Top-up For The First Two Years Of The Lease, Which Were Subject To A Stepped Rent.