Retail premises for sale in 397 Manchester Road, Stockport, Cheshire SK4

Location

A substantial corner property that is situated at the junction of Manchester Road and Abney Road within Heaton Chapel Village Centre.

Heaton Chapel is a popular residential area 2 miles to the north of Stockport Town Centre.

Description

We are delighted to offer for sale a substantial primely located roadside, convenience store investment, with residential refurbishment opportunity.

The ground floor is currently let to Alliance Property Holdings Limited trading as Morrisons.

The residential element comprises its own entrance door on Abney Road and provides substantial first floor accommodation that is in need of refurbishment, potentially as a large single flat or multi-occupancy STP.

There is a small yard for loading at the rear.

The property offers an excellent "Value Add" opportunity. The commercial element rent is just £7.50 psf overall and clearly there is obvious rental growth at rent review, which we understand is in 2029. The first floor provides a residential development opportunity and benefits from immediate vacant possession.

Tenancy Information

397 Manchester Road is let to Alliance Property Holdings Limited on a tenants effectively full repairing and insuring basis for a term of 10 years, with a rent review understood to be in 2029 and no breaks, at a current rent of £16,250 per annum.

2 Abney Road is large vacant residential flat that is in need of upgrading.

Asking Price

The entire property is available at an asking price of £330,000 plus VAT.