The property comprises a Victorian period 5 storey brick built building sat beneath a pitched slate converted roof. The accommodation is arranged to provide a retail unit at ground floor, with ancillary accommodation at basement level. The upper floors consist of four residential apartments, which are accessed from a dedicated entrance fronting Victoria Street.
Manchester is widely considered as the UK’s “second city”.
A highly prominent gateway site in a unique corner location in an area of the city which has witnessed significant redevelopment in recent times, and continues to do so with the planned redevelopment of the Renaissance Hotel scheme and the historic Manchester Cathedral
The property is held long leasehold.
The lease has an unexpired term of approximately 8.5 years.
The property comprises a Victorian period five storey character building arranged to provide a 398 sq ft retail unit at ground floor, with 353 sq ft
ancillary space at basement level.
Upper floors provide residential accommodation and have been sold off on a long leasehold basis contributing a total of £1,045.60per annum ground rent
A Lease to Hanging Ditch Wine Merchants Limited, who have traded from the property since 2008
Recent lease renewal delivered a 38% rental increase so passing rent of £29,000 pa
RPI linked rent reviews in 2023 and 2027 providing guaranteed rental growth.
Seeking offers in excess of £510,000 (five hundred and ten thousand pounds).