Character Freehold Retail & Leisure Investment
INVESTMENT FOR SALE
Freehold leisure and retail investment located in the heart of Manchester City Centre.
Unique period property comprising three adjoining buildings: Old Half Moon Chambers (5 & 7), Chapel Walks Chambers (9 & 11) and Union Buildings (15 & 17).
Ground floor and basement accommodation totaling 8,275 sq ft GIA
The upper floors have been sold-off long-leasehold and have recently been refurbished to provide 14 luxury apartments.
Multi-let to four tenants providing a passing rent of £143,000 per annum with a WAULT to expiry of 7 years and 10 months & 5 years and 8 months to breaks.
Seeking offers in excess of £1,500,000 (One Million Five Hundred Thousand Pounds) Subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 8.99% after assumed purchaser’s costs of 6.10%. A low capital value of £181 psf.