Industrial for sale in Manchester M40

Strapline

Auction Sale - 01/11/2023

Of interest to investors with future development potential

Substantial Freehold Multi-Let Industrial Investment Close to Manchester City Centre

Investment Currently Let at £730,308 pa (12.27% on Guide Price)

Description

The property, the former Princes Juice Factory, now comprises a number of industrial units, each let on short leases/licences. The property is split into two sites which are split by the railway. The total site size is approximately 4.29 acres (1.736 hectares).

Site A

Site A as shown edged red on the plans that are included within these particulars is situated at the junction of Lord North Street with Grimshaw Lane. The site provides accommodation with a Total Gross Internal Floor Area of approximately 45,469 Sq ft (4,224.2 Sq m). The accommodation provides a variety of separate office and warehouse/ workshop accommodation. To the elevation of the site, which fronts onto Grimshaw Lane on the North East side of the site, there is office accommodation with a rear warehouse/workshop accommodation attached. The warehouse has eaves heights ranging from 3.6 metres to 5.4 metres. The buildings benefit from a variety of dock levellers providing access to the commercial part of the premises. There is also a first floor section to the property structure which is currently arranged to provide a canteen and store. Access to the site is from Lord North Street with the access to the external areas that are used for car parking and circulation.

Site B

Site B as shown edged blue on the plans that are included within these particulars is located at fronting onto Lord North Street. The site provides accommodation with a Total Gross Internal Floor Area of approximately 62,642 Sq ft (5,819.6Sqm). The accommodation provides a variety of warehouse/workshop accommodation with an eaves height ranging from 3.624 metres to 6.45 metres. There are a variety of dock levellers and the access to the site leads to external areas used for car parking and circulation. Access to the site is via two access points from Lord North Street with these providing access to external areas used for circulation. Within the site there are a variety of outbuildings.

Tunnel

Please note it is our understanding that the licence agreements in relation to the tunnel underneath the railway have now been terminated and there is no longer any use of the tunnel to join the two parts of the site, although the purchaser may be able to enter into a new licence to use the tunnel once the site has been acquired.

Location

The property is prominently located at the junction of Lord North Street and Grimshaw Lane in the area of Greater Manchester known as Newton Heath. Newton Heath is an established commercial area located approximately 2.8 miles north east of Manchester City Centre. Nearby occupiers include the Etihad Stadium, Greater Manchester Police, Travis Perkins and a number of third party logistics companies.

Tenancy

The property is let to a number of tenants, some on rolling leases/licences so the rent may be changeable. Please refer to the latest tenancy schedule in the legal pack.

Accommodation

The property comprises a substantial site & buildings comprising approximately 10,043.80 sq m (108,111 sq ft) of gross internal area on a site area of approximately 4.29 acres (1.736 hectares).

The property comprises 36 tenants

Planning

The property may benefit from Change of Use/Development Potential. For further information please contact Manchester City Council ().