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14-22 St. Anns Sq 2,768 SF Retail Condo Unit Offered at $1,511,532 in Manchester M2 7HQ
Investment Highlights
- Signage
- Natural light
- Frontage
- Storage
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Tenure | Long Leasehold |
| Cap Rate | 6.75% |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Tenure | Long Leasehold |
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.
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.
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.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 16 | 2,768 SF | Retail | $1,511,532 ($546.07/SF) | $102,028.42 |
Unit 16
| Unit Size |
| 2,768 SF |
| Condo Use |
| Retail |
| Price |
| $1,511,532 ($546.07/SF) |
| NOI |
| $102,028.42 |
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Unit 16
| Unit Size | 2,768 SF |
| Condo Use | Retail |
| Price | $1,511,532 ($546.07/SF) |
| NOI | $102,028.42 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Tenure | Long Leasehold |
| 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.<br> <br> 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.</li></ul> | |
| Sale Notes | |
| Seeking offers in excess of £1,120,000, Long leasehold interest, subject to contract.<br> A purchase at this level equates to a net initial yield of 6.75%, after deducting standard purchasers’ costs of 5.86%.<br> <br> 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)<br> .<br> 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.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 28,724 SF | Floors | 4 |
| Property Type | Retail (Condo) | Typical Floor Size | 5,744 SF |
| Property Subtype | Storefront Retail/Office | Year Built | 1928 |
| Building Class | C | Lot Size | 0.41 AC |
| Total Building Size | 28,724 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Office |
| 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
- Air Conditioning
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Nearby Major Retailers
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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14-22 St. Anns Sq
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