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Retail Premises For Sale, 92-94 Church Street, Marple, SK6 7AY

3,600 Sq Ft / Retail / Retail Park

For Sale - £925,000.00

Withdrawn - Last updated: 25 June 2022

Marple is an affluent suburb of Stockport located 4 miles east of Stockport Town Centre 10 Miles south east of Manchester City Centre lying along the Peak Forest Canal and has a population of approximately 24000. It is an attractive commuter town served by two railway stations (25 minutes to Manchester). The town centre is anchored by an Asda supermarket with associated car parking which leads to pedestrianised Market Street with traders including M & Co, Boots, Iceland, Superdrug, Tui and Costa Coffee
( Agency Pilot Software ref: 4414 )

Location

The scheme is situated at the end of Market Street close to the Junction of Church Lane and Hibbert Lane.

Accommodation

Gross Internal Area approx. 335.10sq m ( 3,607sq ft )

Terms

TENURE The property will be sold on a 250 year long leasehold base at a fixed ground rent of £250 per annum.

PROPOSAL We are instructed to seek offers on a forward commitment basis to purchase the long leasehold interest in excess of £925,000 (Nine Hundred and Twenty Five Thousand Pounds). A purchase at this level would reflect a net initial yield of 5.5% assuming purchaser costs of 3%.

TENANCY The ground floor unit is to be let in its entirety to Co-operative Group Food Limited for a term of 15 years from practical completion at an initial rent of £52500 per annum. The rent is subject to five yearly only rent reviews in line with CPI subject to a 3% cap and 1% collar.

 An Energy Performance Certificate will be provided on completion of the development.

 

Specification

  • Marple is an attractive affluent commuter town 4 miles east of Stockport on the edge of the Peak District
  • New 3600 sq.ft. Co-operative convenience store as part of a new mixed-use retail and residential town centre scheme with 14 dedicated car park spaces
  • New 15 year FRI lease to Co-operative Group Limited at £52,500 p.a. equating to £14.55 sq.ft. (Subject to a tenant break at year 10)
  • Five yearly upward only rent reviews in line with CPI indexation subject to a cap at 3% and collar at 1%
  • Offers in excess of £925,000 (Nine Hundred and Twenty Five Thousand Pounds). A purchase at this level would reflect a net initial yield of 5.5% assuming forward purchaser costs at 3% Planning approval granted subject to Section 106

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £925,000.00 NA

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