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Lot 23 Click here for addendum

Gross Yield 15%
10 week completion

Situation

Occupying a prominent trading position in the heart of the town centre, adjacent to St Anns Hospice, opposite Yorkshire Building Society, being some 50 yards away from the entrance to Merseyway Shopping Centre and amongst a host of multiple retailers such as Primark, Boots, EE, Specsavers, Virgin Money, NatWest, Costa and HSBC.
Stockport is a busy commercial centre approximately 6 miles south-east of Manchester.

Property

A mid-terrace building comprising a Ground Floor Shop with Ancillary Accommodation at basement, first and second floor levels (see Note). In addition, there is rear pedestrian access via a gated alleyway between 43 & 45 Great Underbank as well as vehicular access via Royal Oak Yard.

Accommodation

Ground Floor Shop
Gross Frontage 25'4”
Internal Width 20'1”
Shop & Built Depth 63'8”
Sales Area Approx 855 sq ft plus WC
Basement Ancillary Area Approx 1,170 sq ft
First Floor Ancillary Area Approx 985 sq ft
Second Floor Ancillary Area Approx 1,160 sq ft

Total Area Approx. 4,170 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Tramp Hair Boutique Ltd as a Hairdresser (this is their second salon in Stockport and the tenants were awarded ‘Most Promising Young Business 2018' by Stockport Business Awards) for a term of 10 years from 14th January 2019 at a current rent of £15,000 per annum exclusive.

Rent Review & Tenant's Break 2024

Note: The tenants have advised they are spending approx. £250,000 on refurbishing the whole building to make way for other projects including a hairdressing academy and a vintage clothes store.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

35/37 Great Underbank, Stockport, Greater Manchester SK1 1NE