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- LoopNet Team
250 Great Ancoats St
Manchester M4 7BT
Multifamily Property For Sale
·
177 Units
INVESTMENT HIGHLIGHTS
- ASDA Stores Limited (Company Number 0046777), commonly known as ASDA, is a British supermarket retailer and one of the largest in the UK
- The unit is located in a highly prominent position overlooking Great Ancoats Street on the edge of Manchester City Centr
- Victora house is an elegant new development in Manchester’s Ancoats area making a striking impression on the city’s skyline sat on a former warehouse
EXECUTIVE SUMMARY
TENANCY The entire property is to be let to Asda Stroes Limited on a New FRI Lease for a term of 15 years to start from the date of occupation. An Agreement for Lease is in place between Asda Stores Limited and the landlord FG Victoria House Limited. The initial rental is agreed at £140,000 per annum (£48 per sq ft) and is to be reviewed every five years in line with RPI with a 2-4% cap and collar. There is an initial rent-free period of 12 months. PROPOSAL We are instructed to seek offers in the excess of £2,175,000 (STC) (Two Million One Hundred and Seventy-Five Thousand Pounds) For our client’s long leasehold interest, representing a yield of: Net Initial Yield – 6.05% Assuming purchaser costs of 5.90% and after the rent-free period.
PROPERTY FACTS
| No. Units | 177 | Building Size | 20,000 SF |
| Property Type | Multifamily | No. Stories | 25 |
| Property Subtype | Apartment | Year Built | 2024 |
| Apartment Style | Hi-Rise | APN / Parcel ID | |
| Lot Size | 0.33 AC |
| No. Units | 177 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Hi-Rise |
| Lot Size | 0.33 AC |
| Building Size | 20,000 SF |
| No. Stories | 25 |
| Year Built | 2024 |
| APN / Parcel ID |
AMENITIES
UNIT AMENITIES
- Storage Space
SITE AMENITIES
- Laundry Facilities
