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14-22 St. Anns Sq 2,768 SF Retail Condo Unit Offered at $1,494,848 in Manchester M2 7HQ
INVESTMENT HIGHLIGHTS
- Signage
- Natural light
- Frontage
- Storage
PROPERTY FACTS
| Total Building Size | 28,724 SF | Typical Floor Size | 5,744 SF |
| Property Type | Office (Condo) | Year Built | 1928 |
| Building Class | C | Lot Size | 0.41 AC |
| Floors | 4 |
| Total Building Size | 28,724 SF |
| Property Type | Office (Condo) |
| Building Class | C |
| Floors | 4 |
| Typical Floor Size | 5,744 SF |
| Year Built | 1928 |
| Lot Size | 0.41 AC |
AMENITIES
- Restaurant
- Accent Lighting
- Storage Space
1 UNIT AVAILABLE
Unit 16
| Unit Size | 2,768 SF | Sale Type | Investment |
| Price | $1,494,848 | Tenure | Long Leasehold |
| Price Per SF | $540.05 | Cap Rate | 6.75% |
| Condo Use | Retail | NOI | $100,902.25 |
| Unit Size | 2,768 SF |
| Price | $1,494,848 |
| Price Per SF | $540.05 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 6.75% |
| NOI | $100,902.25 |
DESCRIPTION
The property comprises a ground floor retail unit and forms part of four storey building of traditional brick construction under a pitched roof. The retail unit benefits from a glazed frontage beneath Caffé Nero’s commercial signage/branding.
The tenants demise comprises of two storeys with the ground floor providing a large sales area with a barista station, kiosk and customer seating. To the rear, there is W/C, ancillary storage and a loading bay. The lower ground floor provides additional storage and staff facilities.
SALE NOTES
Seeking offers in excess of £1,120,000, Long leasehold interest, subject to contract.
A purchase at this level equates to a net initial yield of 6.75%, after deducting standard purchasers’ costs of 5.86%.
The property is let to Nero Holdings Limited t/a Caffé Nero on a 10-year effective full repairing and insuring lease from 15 March 2024, expiring on 14 March 2034 (8.60 years unexpired)
.
The passing rent of £76,250 per annum (£90 psf ITZA) is subject to a stepped rent on each anniversary of the term until 18 March 2028.
Interior Photo
Interior Photo
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14-22 St. Anns Sq
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