PRIME INVESTMENT OPPORTUNITY

• Strategically located less than 2 miles south of Manchester City Centre off the Chester Road, the main arterial route between Manchester and the wealthy suburbs of Greater Manchester and Cheshire.
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• Prime vehicle retailing and out of town retail location.
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• State of the art 2,224 sq m (23,934 sq ft) Audi service and repair centre operated simultaneously with the adjacent retail showroom. Prior to conversion the property was used as a Harley Davidson showroom.
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• Let to Volkswagen Group United Kingdom Limited until 6th November 2031 (No Breaks) providing 7 years unexpired.
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• Volkswagen Group United Kingdom Limited have a turnover in excess of £9.3 billion and a tangible net worth of £738 million (D&B 5A1).
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• Underlet to Lancaster Plc for the same term less 4 days.
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• Rent receivable of £297,750 per annum.
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• Site underpinned by alternative use value, subject to planning.
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We are seeking offers in the region of £5,000,000 (Five Million Pounds), subject to contract and exclusive of VAT, which reflects a net initial yield of 5.5% assuming usual purchaser’s costs of 7.5%.

Manchester is the dominant regional city in the northwest of England and is the UK’s commercial and economic capital outside of London.

The city benefits from a diverse economy with banking, finance, service sectors and manufacturing business all well represented in the city.

The city is the second most populous urban area in the UK with a population of over 2.5 million. It is located approximately 200 miles north of London, 90 miles north of Birmingham, 44 miles west of Leeds and 35 miles east of Liverpool.

Manchester has an excellent communication network. By road the city is served by a number of interlinking motorways including the M62, M57, M602, M56, M66 and M61 all of which connect with the M60 the Manchester Outer Ring Road. The M62 connects the city to Leeds and Liverpool while the M6 provides access to the north, Glasgow and Edinburgh, and the South, Birmingham and London.

By rail, Manchester Piccadilly offers a direct service to London Euston with an average journey time of approximately 2 hours 10 minutes.


Manchester Airport is located 10 miles south of the city centre and is the busiest airport outside of London with over 200 international flights every day serving 180 destinations.   

The property is located 2 miles south of Manchester city centre fronting Chester Road, just off the A56 (Bridgewater Way) which is the principal access route between the city centre and the prosperous suburbs within Greater Manchester and Cheshire. The Chester Road/A56 is a recognised vehicle retailing location with traffic flows of approximately 40,359 cars per day.


The subject property is directly opposite the Audi showroom facility which has prominent frontage to the A56. Other vehicle dealerships in the area include VW, Ford, Honda, BMW / MINI, and Vauxhall. In addition the head office of leading automotive dealer Lookers Plc. is located approximately 1 mile to the south of the property.

The area is an established retail warehouse location; both Castlemore Retail Park and White City Retail Park are located just to the south of the property. Castlemore Retail park occupiers include DFS, Harveys, Benson for Beds, KFC and Harry Ramsden’s. White City Retail has been recently redeveloped by The Derwent Group. Tenants include Dreams, Halfords, Currys, Costa and Furniture Village. The area has improved further as a retail location with the recent development of a Tesco Extra approximately 0.5 miles to the south of the property.

Also in the vicinity are Old Trafford Football Stadium, Lancashire County Cricket Ground and Media City.

The property comprises an Audi service and repair centre which is operated by Jardines along with the adjacent Audi showroom. The property was converted from a showroom by Jardines in 2006 to allow them to expand their operations in this excellent trading location. This property and the adjacent showroom are operated simultaneously as one trading concern.

The property is of modern steel portal frame construction built to an eaves height of 6 meters (19 ft 8”) and a ridge height of 7.5 meters (24 ft 7”). The frontage to Chester Road has full height glazed elevations with the remaining steel sheet clad.

The property provides for a workshop, parts, valet/PDI with supporting offices on the ground floor, additional offices, ancillary and parts storage are on the first floor. The property is accessed via roller shutter doors to the rear elevation and with a single vehicular access point to the side elevation of the workshop. A customer access and parts/trade counter is located on the western elevation.

The workshop is finished to a high specification with sodium lamps, exhaust extraction system and gas heaters and it provides 22 service bays and 2 MOT bays.

The principal entrance is on Chester Road, however, the property benefits from further access onto Talbot Road to the rear of the property. Extensive parking is provided to the side and rear of the property.

Site AreA
The property occupies a site area of 1.1 acres (0.44 hectares) giving a site cover of 40%.

Tenure
The property is held part freehold and part long leasehold. The area edged red on the plan is held freehold. The area edged blue is held on a 999 year lease from 25th March 1835 at an apportioned rent of £15 and 10 shillings per annum, the rent is never demanded.

SCHEDULE OF AREAS

EPC
Energy Performance Certificate - C74.