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Multi-Let Retail / Office Opportunity

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Multi-Let Retail / Office Opportunity A Bilfinger Real Estate company Multi-let Retail / Office Opportunity 49 – 53B Manchester Road Denton Manchester M34 2AF 49 – 53B Manchester Road Denton, Manchester, M34 2AF SCOTLAND Glasgow Edinburgh Newcastle NORTHERN IRELAND Belfast Leeds Dublin Manchester IRELAND Executive Summary Birmingham WALES ENGLAND • Well positioned Town Centre retail / office • We are instructed to seek offers in the Cardiff London investment region of £1,247,000 (One Million Two Bristol Hundred and Forty-Seven Thousand • Tenants include the Co-op Healthcare, Pounds) the Co-op Funeralcare, Tameside & Glossop PCT, Comfort Call, Brides at • This would reflect an attractive net initial Best Man and Tameside Energy Services yield of 9.00%. This assumes the usual acquisition costs of 5.8% • Gross rental income of £118,750 pa • AWULT of 4.57 years 49 – 53B Manchester Road Denton, Manchester, M34 2AF Please click on maps to link to online Bing maps Location Manchester is one of the UK’s major metropolitan conurbations and is the regional and commercial administrative centre of the North West having a resident population in the order of 515,000 people and a catchment population estimated to be in the order of 2.55 million. The City enjoys an excellent motorway infrastructure and is comprehensively served by a range of motorways including the M60, M56, M61, M62/M66 and M67. 49 – 53B Manchester Road Denton, Manchester, M34 2AF 49 – 53B Manchester Road Denton, Manchester, M34 2AF Situation Description Denton is a town which forms part of the district of The property comprises three ground floor retail units with Tameside and is situated 6 miles east of Manchester three high specification offices, two above the retail units city centre. The town lies 5 miles east of Manchester city and one to the rear of the property. All three retail units centre, and has a population of 34,286 (Census, 2011). have traditional glazed retail frontage and are accessed The town has excellent road communications being situated just off the M67 motorway, which off Manchester Road. Two of the offices units share an connects with the M60 Manchester Orbital Motorway. The property fronts Manchester Road entrance from Manchester Road whilst the third unit is (A57) which is the main arterial linking the M67 with Denton and Hyde and occupies a prime trading position on the corner of Manchester Road and Acre Street. Nearby occupiers include, accessed via Irwin Street to the rear of the property. Lidal, Domino’s Pizza, Boots Optician and the Post Office. Internally the retail units have been finished to their occupiers’ requirement which in most cases includes full display racking, suspended ceilings, ducted and cassette style heating and cooling systems as well CAT II lights and spot lighting. 49 – 53B Manchester Road Denton, Manchester, M34 2AF 2 - 2 O IFAX T HAL 9 C 2 2 K I CO-OP 3 BAN - V TRAVEL AGENT 0 ET 3 E STR DEN BOOTS 4 OW 3 OPTICIAN B s e r t S RAT e E OC V M T E DE N O L T RA m E A E M LIB T G A R S 1 A Z U E B Y 3 U Z L I C A O IAL Y 45 P C 2 O W T E S 4 C S N A A ` E TR - EN E O K 6 NS K I N A R I 3 S R A ED A E M T R ENT L 5 G O A M E 3 T D A D T I S R E L E & UPS P RC IST TTE LOR U BU F 7 SIES S 3 DAI 4 S GOLDEN DRAGON LLIE CHINESE TAKE AWAY 4 SA NG 9 THI 3 CLO CHILDREN`S SOCIETY 6 4 T HOP IGH CHARITY S TWR CAR 1 0 IAN 4 IC THACKERAYS 5 OPT - BOOKS 8 4 T ORANGE TREE TAPAS EE 2 TR SPANISH RESTAURANT 5 LD S E U 4 O C 5 I LIMES HAIR G FF NAILBOX 6 O BEAU SAL 5 E R THE CARD CABIN 8 E O TIV HALLMARK 5 A T V SER S CARDS & GIFTS CON N THE ATIO OCI 5 ASS UB 4 CL IAL SOC PEEL STREET NGE LOU UTY N BEA LO 1 - 11 7 Y SA 4 AUT POST OFFICE BE DWELLINGS & 4 49 AL SHOP 6 D LONDIS BRI - CONVENIENCE 2 E E 6 FFIC STORE O C I F 6 F VET 51A & 51 6 SURGY O STUDIO 23 8 Y 6 C HAIRDRESSING MA HAR 53 P P O-O STORE C VE ATI 53B SAN 0 ER E OP AR 7 O- LC REMO C ERA FUN ITALIAN RESTAURANT 53A ET TRE E S ACR QUEEN STREET 2 G N 1 I L ASH L ELECTRICAL & E 1 PRINTING & SIGNS S W GAS APPLIANCE 6 D Denton USHER SPIBY 6 7 ACCOUNTANT 3 6 DWELLING 8 ) 5 MARK WHITTAKER VACANT 7 D 6 PHOTOGRAPHY E T A KINGS BARBERS 0 7 DENTON OPTICS 8 M 6 I HAIRDRESSING PHOTO GDS P T S 9 O E PIZZA UN ( GHAURI OFF 6 ) LICENCE TAKE AWAY 2 0 5 8 ( CONVENIENCE DAILY STORE 1 DELIGHTS 7 SANDWICH BAR 3 YASMINS 6 VACANT 7 TAKE AWAY 8 241 PIZZA 8 E ENE 8 H C 5 T S TAKE AWAY AN TTE 7 CLE ERE ET UND RE LA ST NN HULTON STREET A IC LIN Site Plan T C REE Y A W A E K A T ST ANN S ` L DU B 7 A 7 D G N I S S E R D R I A H R E S A E 9 R A F Y B R I R A H NT 7 CE E H C I F F T O E C L N A R A U O S N I E 1 H D R O F S E R E 8 B R T N A R U A T S E 5 R N A I D N 8 I R - N A E C O 3 E U L E 8 B T N A R U A T S E T R N A I L A T 7 I A I L A T I ` 8 D I R O P A S S Y A W A E K A E T 9 N O T N E D F O ` S G N 8 O W H C N S ` S A 1 E R 9 H A B G M U H G N I S S E R D R I A H N I 3 T M A 9 R T I S N O C C A B O T 5 Z R U O P A 9 V E R O T 4 S E C N E I N E V N O 7 C E S N E C I L F F 9 O S ` Y A 201 R / Y A W A 7 E K A / T 9 T U H Y R R U 9 K 7 G N I N A E L C Y R 1 D Z K R O 0 W E S U O VA H 1 G 7 0 1 T S I M E H - C 49 – 53B Manchester Road Denton, Manchester, M34 2AF Accommodation & Tenancy The property has been measured in accordance with the RICS Code of Measuring Practice on a net internal area basis (NIA) and in total provides 1,030.78 sq m (11,095 sq ft). The property is currently let in line with the tenancy schedule to six tenants on varying lease terms on effectively FRI terms and currently produces £118,750 per annum. Tenant Property Type Area ITZA (sqft) Term Expiry (Break) Rent £pa Comments Sq M Sq Ft (£ ITZA) / £ psf Co-Op Healthcare Ltd Retail 144.82 1,559 1,009 15 years wef 10/04/2021 25,000 Guarantor - United Co-Op Ltd. 11/04/06 (24.78) FRI lease. Co-Op Funeral Services Ltd Retail 65.77 708 409 15 years wef 29/04/2022 12,500 Guarantor - United Co-Op Ltd. 30/04/07 (30.87) FRI lease. Brides at Best Man Ltd Retail 141.98 1,528 799 5 years wef 06/06/2015 15,000 Guarantoor - Sarah Jane Dunning. 07/06/10 (18.78) Basement of 456 sq ft. FRI lease. Tameside & Glossop PCT Offices 186.67 2,009 10 years wef 04/06/2018 16,000 FRI lease. 05/06/08 7.96 Tameside Energy Services Ltd Offices 356.84 3,841 5 years wef 10/04/2019 35,250 Been in occupation for 5 years 11/04/14 9.18 prior to current lease. FRI lease. Comfort Call Ltd Offices 134.70 1,450 3 years wef 17/06/2017 15,000 Been in occupation for 3 years 18/06/14 10.35 prior to current lease. FRI lease. Total 1,030.78 11,095 £118,750 49 – 53B Manchester Road Denton, Manchester, M34 2AF TENURE The property is held under two freehold titles, GM33084 and GM497826. NHS hospitals. The Co-operative pharmacies provide a range of Care Trusts were renamed to Clinical Commissioning Groups services, including flu vaccinations, weight management, sexual (CCG). TENANT COVENANT health and Muslim health. Tameside and Glossop CCG have a contract with Tameside United Co-operative Limited (now known as The Further information can be found on their website at Council and work along in conjunction with them to improve the Co-operative Group Limited – Guarantor on Unit 53 and 53a) www.co-operativehealthcare.co.uk health care of the local population.
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