Commercial Property
A recent conversion into three commercial studios with a current rental income of £15,000 per annum, part let with a full market rent achievable of circa. £24,000 per annum. All held on long leases with peppercorn ground rents.
The seller informs us that the three studios have been refurbished to a good standard and comprise shower room and toilet, open plan living area.
The vendor has also advised that the lease has been varied to allow for both commercial and residential use.
The current rental income comprises -
Vacant at time of listing (full market rent circa (£700 per calendar month).
£600 per calendar month. 3 year contract (full market rent circa £675 per calendar month).
£650 per calendar month. 3 year contract (full market rent £675 per calendar month).
The property is located just outside of Manchester city centre with Deansgate railway station an 11 minute walk from the property. Local amenities can easily be reached in a few minutes on foot. Easy access to the A57(M).
Length of lease: 999 years Year lease started: 2002 Years left on lease: 978 years (from 2023) Service charge: £1,800+ Ground rent: Peppercorn Ground rent review period: n/a.
Please be advised that the auctioneers have not personally inspected the property and the details and photographs have been supplied by the seller. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Leasehold. Part let/part vacant.
975
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
Auction Deposit and Fees
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1074 inc. VAT
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
