361 Bury Old Road, Prestwich, Manchester, Lancashire, M25 1PY

Category For Sale
Type Investment
Size 1,163 sq ft / 108.0 sq m
Price £195,000

Description

End Terraced Retail Property.

Investment Opportunity.

Passing Rent £12,669.96.

Tenant In Occupation for 20 + Years.

Recent Lease Expiry – Tenant Holding Over.

Prominent Position Close to Heaton Park.

EPC Commissioned.

FOR SALE: Offers in the Region of £195,000.

Located in a prominent corner position at the junction of Bury Old Road (A665) and Heys Road, and close to St Margaret’s Road, which leads to the exceptionally popular 600 acre Heaton Park, approximately 1.8 miles from Whitefield to the north, 1.1 miles from Prestwich to the west, and 4.5 miles to Manchester city centre to the south. Surrounding occupiers and businesses include Prestwich Prep School, 406 Dental and Warents Feingold Accountants.

The property comprises end terraced retail premises, with accommodation over two floors, let as a whole to an individual tenant, trading as ‘Sparkling Sugar Craft’ We understand that the current tenant has been in occupation for 20 + years. We further understand that the first floor used to be separate residential accommodation, prior to change of use to retail. See Planning Ref; 55614/PP-02176472 from September 2012.

The ground floor accommodation provides an entrance vestibule with door and stairs to first floor, and access to the retail area, which comprises, two interconnected sales rooms, with front display window, with manual roller shutter, two store rooms, plus WC and kitchen facilities.

The first floor provides two store rooms, a room used for classes and a kitchen, together with a bathroom/WC. We understand that the first floor has a gas central heating system.

Externally there is an enclosed yard to the rear.

The tenant has, we understand, been in occupation for 27 years. The current lease, dated 1st June 2016, was for 5 years, and the tenant is now holding over, by way of a deed of variation, permitting either party to terminate with 3 months notice.

The current passing rent is £12,669.96, exclusive of rates and VAT.