LOT 29 - Commercial Auction - 3rd November 2020

Freehold Retail Parade and Office Investment Emery House, 187-199a Fog Lane, , Manchester, , M20 6FJ LOT 29 - Manchester Freehold Retail Parade and Office Investment Emery House, 187-199a Fog Lane, Burnage, Manchester, Greater Manchester, M20 6FJ

GUIDE PRICE * £1.5M - £1.6M Gross Initial Yield 8.61%

Commercial - 3rd November 2020 Online Auction - Bidding will open at 11am for all lots

Key Features Location • Comprising 8 shop units with 5 suites of offices above Burnage is a suburb of Manchester and is located approximately 3 miles north west of • Providing a total of some 1,132.42 sqm (12,189 sq ft) of accommodation Stockport and 4 miles south of • Tenants include Coral Racing, Assist and Care and South Manchester Credit Union The A34 gives direct access to the M56/M60 to the south and Manchester City Centre to the North • Potential for future development The property is adjacent to Burnage Station (Manchester from 8 minutes) • Adjacent to Burnage Station, west of the A34 The property is situated on the north side of Fog Lane 200m to the west of the A34 • VATis not applicable Kingsway

Total Current Rent Reserved Occupiers close by include a wide variety of independent local shops £129,185 p.a. Additional Information

Tenure • The Property is arranged on a site of approximately 0.206 Hectares (0.51 Acres) and includes 6 garages located to the rear Majority Freehold together with a small area that is held Virtual Freehold (Please refer to the legal pack) Planning

• The property may lend itself to a variety of alternative uses and redevelopment, subject to obtaining possession all the necessary consents. All enquiries should be made with the local authority: Website: https://www.manchester.gov.uk/planning

VAT - VATis not applicable to this Lot.

Lot 29, Commercial Auction - 3rd November 2020 Date Printed: 16/10/2020 | Page 2 of 15 Allsop Sellers Solicitor Philip Parsons. Simon Harding. Tel: 07887 898305 Stephens Scown LLP Email: [email protected] Tel: 01392 210700 Email: [email protected]

Lot 29, Commercial Auction - 3rd November 2020 Date Printed: 16/10/2020 | Page 3 of 15 Schedule

Address Present Lessee Accommodation Lease Details Current Rent (PA) Next Review / Reversion

187 South Manchester Credit Union Limited Ground 62.3 sq m 671 sq ft 6 years from 01.01.2019 £7,500 p.a. Rent Review 2022 Rent review in the 3rd year FR& I by way of service charge

189 South Manchester Credit Union Limited Ground 61.3 sq m 660 sq ft 6 years from 01.01.2019 £7,500 p.a. Rent Review 2022 Rent review in the 3rd year FR& I by way of service charge

191 R Zain Ground 59.6 sq m 642 sq ft 6 years from 18.09.2019 £8,400 p.a. Rent Review 2022 (T/A VapeArise) Rent review in the 3rd year FR& I by way of service charge

193 Coral Racing Limited Ground 62.5 sq m 673 sq ft 12 years from 01.02.2014 £7,500 p.a. Rent Review 2020 Outstanding Rent review every 3rd year FR& I by way of service charge

197 Assist and Care Limited Ground 113.1 sq m 1,217 sq ft 6 years from 04.03.2016 £13,000 p.a. Reversion 2022 Rent review year in the 3rd year FR& I by way of service charge

197a F Salman Ground 66.6 sq m 717 sq ft 5 years from 28.09.2016 £7,700 p.a. Reversion 2021 (T/A Top Pizza) FR& I by way of service charge

199 J Murphy Ground 61.8 sq m 665 sq ft 3 years from 01.11.2019 £7,000 p.a. Reversion 2022 (T/A CJ's Studio) FR& I by way of service charge

199a Techtronix Limited Ground 61.6 sq m 663 sq ft 6 years from 16.03.2016 £8,250 p.a. Reversion 2022 Rent review in the 3rd year FR& I by way of service charge

Suite 1 Lee & Co First 47.34 sq m 510 sq ft Term of years expiring 10.02.2022 £5,500 p.a. Reversion 2022 Rooms 1 & 2 FR&I by way of Service Charge (1)

Suite 1 T Rafiq First 18.38 sq m 198 sq ft Tenancy at Will £2,400 p.a. Rooms 3 & 4 Inclusive of service charge

Suite 1 MSA Charity First 47.35 sq m 510 sq ft Tenancy at Will £4,100 p.a. Rooms 5 & 6 Inclusive of service charge

Suite 2 Pakistani Resource Centre First 47.98 sq m 516 sq ft Term of years expiring 30.04.2022 £5,610 p.a. Reversion 2022 Room 2a FR&I by way of service charge (1)

Suite 2 Celestial Imports Limited First 46.45 sq m 500 sq ft Term of years expiring 27.01.2021 £6,000 p.a. Reversion 2021 Room 2b FR& I by way of service charge (1)

Lot 29, Commercial Auction - 3rd November 2020 Date Printed: 16/10/2020 | Page 4 of 15 Schedule (Continued)

Address Present Lessee Accommodation Lease Details Current Rent (PA) Next Review / Reversion

Suite 2 M Bilal First 27.87 sq m 300 sq ft Tenancy at Will £3,000 p.a. Room C Inclusive of service charge

Suite 2 Vacant First 11.43 sq m 123 sq ft Room D

Suite 3 & 4 MusicStuff Limited First 296.17 sq m 3,188 sq ft Renewal term of years expiring £30,000 p.a. Reversion 2022 (Holding over and in Occupation since 2013) 12.08.2022 in course of execution FR& I by way of service charge (2)

Suite 5 Pembroke Homes Limited First 40.65 sq m 438 sq ft Term of years expiring 15.09.2021 £4,725 p.a. Reversion 2021 FR& I by way of service charge (1)

Garages Various 2 Single Garages Subject to short term licenses £1,000 p.a.

Garages Vacant 4 Single Garages

Total 1,132.42 sq m 12,189 sq ft Total £129,185 p.a.

(1) Outside of the security of tenure provisions of the Landlord and Tenant Act 1954

Lot 29, Commercial Auction - 3rd November 2020 Date Printed: 16/10/2020 | Page 5 of 15 Featured 1

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Lot 29, Commercial Auction - 3rd November 2020 Date Printed: 16/10/2020 | Page 11 of 15 Pro map

Lot 29, Commercial Auction - 3rd November 2020 Date Printed: 16/10/2020 | Page 12 of 15 Lot 29, Commercial Auction - 3rd November 2020 Date Printed: 16/10/2020 | Page 13 of 15 Lot 29, Commercial Auction - 3rd November 2020 Date Printed: 16/10/2020 | Page 14 of 15 Disclaimer - - - Important notice - Pre-registration approval to bid, guide prices, reserves and additional charges Please note that charges and fees additional to the sale price might be payable by the successful buyer in respect of the Lot. Please read the information below and check the Special Conditions of Sale, the Particulars of Sale and any addendum for the Lot before deciding whether or not to bid. Pre-registration approval to bid Allsop now requires all bidders who wish to bid at our Auctions to Register beforehand. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given. Please us the links on our website to pre-register. Guide Prices 1. Where a guide price (or range of prices) is given, that guide is the minimum price at which (or range of prices within which) the seller might be prepared to sell on the date on which the guide price (or range of prices) is published. The guide price will normally be at or above any reserve price. 2. The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website and you are advised to check the website regularly for updates. 3. All guide prices are Quoted "subject to contract". 4. Please note the guide price for the Lot does not include: - any Buyers' Fee charged by the auctioneers; - VATon the sale price; - SDLT or any other Government taxes; - additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers. 5. If a guide price is listed as "TBA", it means no guide price has been set at present. Please do not call our office about this - the guide price, or range of prices, will be published online immediately it becomes available and you should check the auction website regularly for updates. Reserve Prices 6. The reserve price is the minimum price at which the Lot can be sold. 7. Whilst every effort is made to ensure that the advertised guide prices are up-to-date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. This is because the seller may fix the final reserve price just before the Lot is offered for sale. Buyers' fees, Seller's fees and additional charges 8. For each Lot, a Buyers' Fee is payable on the fall of the hammer to Allsop LLP as follows: Residential Auctions - Lots sold for £10,000 or more: Buyers' Fee of £1,250 inclusive of VAT - Lots sold for less than £10,000: Buyers' Fee of £250 inclusive of VAT Commercial Auctions - All Lots: Buyers Fee £1,000 inclusive of VAT 9. Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts. 10. VAT may be chargeable in addition to the sale price for the Lot. The Lot Particulars and/or the Special Conditions of Sale will indicate whether VAT applies. Other Matters 11. Please note that lots may be sold or withdrawn at any time prior to auction. 12. Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer's Fee may each be varied from the standard amounts quoted. Please refer to the addendum, the Particulars and/or the conditions of sale. 13. Street trader plans are reproduced with the consent of Experian Goad Limited. Experian Goad Digital Plans include mapping data licensed from Ordnance Survey with the permission of the Controller of Her Majesty's Stationery Office. © Crown Copyright and Experian Copyright. All rights reserved. Licence number PU 100017316. Location plans are reproduced from the Ordnance Survey mapping with the permission of Ordnance Survey on behalf of the Controller of Her Majesty's Stationery Office, © Crown copyright and Database Rights 2018 OS 100060020 14. The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not necessarily drawn to scale and any arrows on plans or photographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries. The Auctioneers cannot guarantee that any plans or photographs show the up to date position with regard to occupiers either for the Lot or for any other properties shown in such plans or photographs.

Lot 29, Commercial Auction - 3rd November 2020 Date Printed: 16/10/2020 | Page 15 of 15