PRIME FREEHOLD RETAIL INVESTMENT WITH SELF-CONTAINED 4 BED APARTMENT ABOVE 36/36A LONDON ROAD, ALDERLEY EDGE, SK9 7DZ 36/36A LONDON ROAD, ALDERLEY EDGE, CHESHIRE SK9 7DZ

INVESTMENT SUMMARY

• Prominently located retail unit with residential apartment above in the affluent town of Alderley Edge • 885 sq ft ground floor shop with 2,390 sq ft apartment across ground, first and second floors and benefitting from garage to the rear and providing a total GIA of 3,275 sq ft • Let to Fiorucci Limited under a new 15 year lease w.e.f 25th March 2019, expiring 24th March 2034 (14.5 years unexpired) • £50,000 per annum passing rent • 5 yearly upward only rent reviews to open market rental value • Freehold • Offers in the region of£790,000 (STC) • Attractive Net Initial Yield of 6.00% YORK

LEEDS BRADFORD PRESTON BLACKBURN KINGSTON UPON HULL

WAKEFIELD Huddersfield M6 M62 36/36A LONDON RD 36/36A LONDON ROAD, ALDERLEY EDGE, CHESHIRE SK9 7DZ M66 M61 ALDERLEY EDGE MOUTH OF THE HUMBER

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36/36A LONDON RD ALDERLEY EDGE CHAPEL RD

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TO ALDERLEY EDGE STATION 36/36A LONDON ROAD, ALDERLEY EDGE, CHESHIRE SK9 7DZ

DEMOGRAPHICS

Alderley Edge is one of the most expensive and sought-after places to live in the UK outside of central London.

The town forms part of the Golden Triangle and is home to a large number of very high net worth individuals including a significant number of Premiership footballers and prominent North-West business people.

Alderley Edge has a total population of 4,409 people (2001 Census) and a resident population of 107,966 within 5 miles. It has an affluent catchment indicated by 52% of the population being with social class AB and over 78% of household. These statistics are notably above their respective national averages.

SITUATION

The property is situated on the prime pedestrianized section of London Road, which is the main road that runs through Alderley Edge.

Alderley Edge is home to a number of national retailers and multiple successful independent retailers. Waitrose, Tesco, Café Nero, Costa Coffee, Barclays, Victor’s and Gusto are a few of the retailers found on London Road.

DESCRIPTION

The property comprises a ground floor retail fit out in a modern style currently trading as a hairdressing salon.

The basement and ground floors are fitted out to a high standard. The first and second floors have been developed into a high specification 4 bedroom apartment with access both the front and rear. A garage is accessed from the rear via an electrically operated door. 36/36A LONDON ROAD, ALDERLEY EDGE, CHESHIRE SK9 7DZ

ACCOMMODATION

The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition). The property has the following approximate gross internal areas:

Floor Area (sqm) Area (sq ft) Ground Floor 82.3 885.7 Upper floor apartment 222.0 2,390.0

Total 304.3 3,275.7

We have analysed the ground floor to be 535 ITZA. TENANCY

The entire property is let to Fiorucci Limited under a 15 year term from 25th March 2019, expiring 24th March 2034, thereby resulting in 14.5 years unexpired term. The passing rent is £50,000 per annum. Assuming an ERV of £1,500 pcm for the apartment, the ground floor rent breaks back to a Zone A of £59 psf. The rent is reviewed 5 yearly on an upward only basis to the open market rental value. TENURE

The property is held Freehold under title number CH549096.

COVENANT STATUS

Fiorucci Limited (Company Number: 11938339) is an independent hairdressing salon based in Alderley Edge. The company has a small business exemption from filing accounts. They have been in occupation of the property for 6 years and in the village for over 20 years. We understand they trade well. 36/36A LONDON ROAD, ALDERLEY EDGE, CHESHIRE SK9 7DZ

PROPOSAL FURTHER INFORMATION

We are seeking offers in excess of£790,000 For further information or to arrange an inspection, please contact: (Seven Hundred and Ninety Thousand Pounds) James Kinsler Tel: 07825 870209 for our client’s freehold interest. Email: [email protected]

A purchase at this level reflects a6.00% Mark Powell Tel: 07825 077724 net initial yield, after deducting appropriate Email: [email protected] purchaser costs.

6.00% NET INITIAL YIELD Christopher Dee 40 Peter Street Manchester M2 5GP EPC Available upon request.

VAT The property is not registered so VAT will not be payable on the purchase price. MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained here in is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves ANTI-MONEY LAUNDERING REGULATIONS as to their accuracy. Christopher Dee nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents quoted in these In accordance with Anti-Money Laundering Regulations, two forms of particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is identification and confirmation of the source of funding will be required capable or fulfilling its intended function. Prospective tenants/ purchasers should satisfy themselves as to the fitness of from the successful purchaser. such equipment for their requirements. September 2019.