The characterful brick buildings have charming Victorian and Edwardian features including large sash windows and decorative cornices. With prominent features, the general arrangement of each building consists of basement, ground, and three upper floors.
( Agency Pilot Software ref: 1589 )
Location
Situated in the heart of the Oxford Road corridor, Manchester’s innovation district surrounded by knowledge institutions and cultural hotspots, offering a wealth of major leisure and commercial outlets.
• Surrounded by high rise developments of significant scale and mass delivered by industry leading developers including Bruntwood’s Circle Square, Unite’s Bridgewater Heights and Artisan Heights providing heights of up to 38 storeys
On the doorstep of Wakefield House is the famous Oxford Road Corridor, economically the most important area within Greater Manchester, with more job creation potential than anywhere else in the city region. With world-class facilities spanning the district, local businesses enjoy immediate access to fantastic talent - much of which flows from the city’s outstanding universities.
The Corridor offers companies superb opportunities for co location, university research, laboratories as well as incubation and grow-on space.
The Oxford Road corridor is a highly popular and busy location with excellent footfall. All city centre amenities including retail, bars, restaurants, hotels etc. are within close proximity. Along Oxford Road and into Circle Square are several innovative retailers, restaurants, bars and pavement cafes, all centred around Symphony Park, a beautifully landscaped space designed for socialising, entertaining, relaxing and exploring.
Accommodation
The site extends to c. 0.183 acres. The existing buildings provide a mix of office, leisure, and residential accommodation providing a total of 31,330 sq ft on a Net Internal Area basis.
Terms
PLANNING The site is located within Manchester Metropolitan Borough Council and is subject to the following planning policy frameworks:
• Places for Everyone
• Manchester Unitary Development Plan and Manchester Core Strategy
• Greater Manchester Spatial Framework (pre-submission)
• Manchester Local Plan
• Manchester Local Plan Review (Issues and Options)
PROPOSAL We are instructed to invite offers of £6,250,000 (Six Million Two Hundred Fifty Thousand Pounds) exclusive of VAT, reflecting:- Gross Yield of 6.55% - Reversionary Yield of 8.06%- Very Low Capital Value of £199psf (NIA)
DATA ROOM Access to the marketing data room can be requested through the selling agents WT Gunson.
EPC’S All EPC data can be viewed in the data room.
VAT The property is Elected to Tax for VAT purposes. We anticipate the transaction to be treated as a Transfer of a Going Concern (TOGC).
Specification
- Current Income £409,090pa, with ERV of £503,557pa.
- Situated off Oxford Road in the heart of the vibrant student area of Manchester City Centre.
- Investment with future development potential.
- Current Income £409,090pa, with ERV of £503,557pa.