Offers in region of
£1,850,000
Property for sale348-362 Palatine Road, Northenden, Manchester M22
About this property
5 Retail Units (3 x single, 1 x double, 1 x triple) and 5 Flats above (1 x 1 bed, 4 x 2 beds)
Passing rent £152,390pa with an erv of £175,595pa
8.2% gross yield with reversion of 9.5%
The parade is located on the west side of Palatine Road between the junctions of Heyridge Drive and Lingard Road in Northenden, Manchester. Palatine Road (B5167) is a busy arterial route being the main high street in Northenden and providing easy access to Princess Parkway (A5103) and in turn the M56 motorway. Northenden is an increasingly popular South Manchester suburb situated c 5 miles south of Manchester City Centre.
The property comprises a retail and residential parade within a 3 storey block. The retail provides 5 units including 3 single units (Northern Exotic fruits, Oasis International foods, Church of England Children's Society, 1 double unit (Well Pharmacy) and 1 triple unit (Pound Express). There are 5 flats above (1 x 1 bed, 4 x 2 beds) which are accessed to the rear of the property via a staircase and walkway. The two beds are duplex apartments. There is also parking to the rear of the properties. It should be noted that some of the residential apartments have been sold off on long leaseholds - see tenancy schedule.
The property is held freehold under various title numbers. Further information is available within the dataroom.
Dataroom
Access to the dataroom is available on request.
The property comprises a retail and residential parade within a 3 storey block. The retail provides 5 units including 3 single units (Northern Exotic fruits, Oasis International foods, Church of England Children's Society, 1 double unit (Well Pharmacy) and 1 triple unit (Pound Express). There are 5 flats above (1 x 1 bed, 4 x 2 beds) which are accessed to the rear of the property via a staircase and walkway. The two beds are duplex apartments. There is also parking to the rear of the properties. It should be noted that some of the residential apartments have been sold off on long leaseholds - see tenancy schedule.
The property is held freehold under various title numbers. Further information is available within the dataroom.
Dataroom
Access to the dataroom is available on request.
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£9,254 per month
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