Coming Soon

Property Type	Investment
Tenure	For Sale
Size	22,097 sq ft
Price	Offers in excess of £1,800,000
Business Rates	Upon Enquiry
Energy Performance Rating	Upon enquiry

Highly reversionary mixed-use investment, with convenience retail, trade counter and light industrial occupiers.

Key Points

• Attractive Net Initial Yield (NIY) of 7.55% and a reversionary yield of 11.34%
• Macclesfield is a prosperous and affluent market town located in North-East Cheshire
• 35% of the income secured to Co-op Group Food ltd
• Prominent scheme on main arterial route into Macclesfield town centre and within 200m of the junction with the A523 Silk Road, the towns bypass
• Asset management potential through lease re-gearing and letting of the vacant space or adding residential to the vacant upper floors
• Low passing rents with significant rental growth potential

Description

Park House sits on an island site and consists of three retail / leisure / trade counter premises with two industrial units with car parking deck at the upper level.
The property was constructed in the 1970’s the ground floor elements are constructed with brick elevations, with a flat roof above the 5S Fitness and vacant first floor and the upper-level industrial units situated above Johnstone’s decorating Centre and The Co-op. The industrial units are of steel portal frame construction with profile steel clad elevations and on the pitched roof.
There are two parking areas at ground floor level servicing the ground floor occupiers and a parking and loading deck in between the two industrial units.

Available area

The accommodation comprises the following areas:

Location

Macclesfield is an affluent and popular town in Cheshire located circa 16 miles south of Manchester and 32 miles east of Chester. Uniquely situated between the Peak District and the Cheshire Plain, enjoying breath-taking countryside, rivers, canals, reservoirs, and woodland, the town is situated in one of the most popular areas in which to live in the North West of England.
With the benefit of a West Coast Mainline Railway Station, Macclesfield is very easily accessible from Manchester (22 mins) and London (1hr 41 mins). It is also well located for road travel, with swift access to the North West motorway network via the M60 and M56 motorways, both being 12 miles distant. Connectivity is further enhanced by the A555 Manchester airport relief road/ Poynton bypass linking the M56 with the A6 and provides direct access to Macclesfield via the A523 Silk Road.

Terms

Offers are sought of over £1,800,000 (One Million, Eight Hundred Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level would reflect a Net Initial Yield of 7.55% assuming purchaser’s costs of 6.22% with a low capital value of £81.45 per sq ft and a potential reversionary yield of 11.34%.