Mixed Use
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% 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.
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.
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.
Leasehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under and Unconditional sale type.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £3,600 inc. VAT.
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
