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Lot 2 - Unit 5, 30-32 Knowsley Street, Manchester, M8 8HQ

Guide Price* £320,000 +

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Property Type
Retail Property (out of town)
Tenure
Leasehold
Type
Commercial
Bidder Security Deposit
£3,500*

Property Summary

  • On the instructions of the Joint Trustees of a Pension Fund
  • Long leasehold three floor retail / wholesale unit.
  • All three floors individually let
  • Popular location for the Wholesale Community
  • Total NIA approximately 309.1 sq.m (3,327 sq.ft)
  • Designated Car Parking
  • Investment producing £31,200 p.a.

Long leasehold three floor retail / wholesale unit of approximately 309.1 sq.m (3,327 sq. ft) - Investment producing £31,200 per annum.

Description

30-32 Knowsley Street is a purpose-built retail /wholesale unit of modern specification providing accommodation over ground, first and second floors. It is a steel frame construction with solid concrete floors and modern attractive clad and brickwork elevation. The whole building has frontages on Knowsley Street, Woolley Street & Camberwell Street with designated car parking to the rear.

The ground floor, which has its own, self-contained entrance, has been fitted to a good standard with glazed display frontage, carpeting, suspended ceilings and recessed lighting. It has also been sub-divided in part with demountable partitioning to provide showroom, storage display, office and ancillary areas. The first and second floors are accessed separately off Knowsley Street. The property has electrically operated security shutters front and rear and a dedicated goods loading area at the rear.

Location

The unit is positioned fronting onto Knowsley Street just off the popular Derby Street at Cheetham Hill in the heart of the wholesale area approximately 1 mile north from the city centre. The main A665 Cheetham Hill Road and A56 Bury New Road are readily accessible close by. The area is popular with the wholesale fashion and cash & carry community. Public transport facilities include Manchester Victoria which is in close proximity.

Tenancy Schedule

(Approximate dimensions)

Floor Accommodation Tenant Tenancy Rent
Second floor Sales Area 8.67m x 12.74m Berbish Limited
t/a Berbish Womenswear
Let on a lease for a term of 5 years from 1/9/2024
(Next rent review due 1/9/2027)
£9,600 p.a.
First / Second floors Communal wc's
First floor Sales area 13.37m x 7.14m Naord Atobrhan t/a Hidmona Habetha Ltd Let on a lease for a term of 3 years from 1/4/2025 £9,600 p.a.
Ground floor Sales Area 11.93m x 8.55m,
Rear Storage Area 4.02m x 2.20m with access to loading bay,
Separate WC
Simra's Fashion UK Limited t/a One Stop Knitwear Let on a lease for a term of 2 years & 3-months from 1/11/2024 £12,000 p.a.
Outside: Designated car parking space
Note: We are advised that the first floor has recently been let, and the tenants are in the process of taking occupation.
Total rent payable £31,200 per annum.

Lease Details

Held on a lease for a term of 999 years from 1/1/2008 at a ground rent of £1 per annum.

Planning

Local Authority – Manchester City Council Tel: 0161 234 5000 – www.manchester.gov.uk

EPC Rating

B

VAT

Please refer to the legal pack in this regard

Disclaimer*

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide Price.

The Guide Price for the Lot does not include the Buyers Administration Fee of £1,500 (inclusive of VAT). In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

To participate in the sale, SW Property Auctions must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £5,000 comprises £3,500 relating to your bidder security (partial deposit payment) and the buyers administration fee of £1,500 (inc. VAT).

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