Cheadle, 16 High Street

For Sale - Rare income producing town centre investment with future redevelopment potential - 2,800 sq ft

LOCATION
The property is situated in an excellent location on the eastern end of the busy High Street in Cheadle town centre. Cheadle is approximately 7 miles south of Manchester City Centre and 3 miles west of Stockport and within a 10 minute drive of the M60 and M52. The area is well served by the rail network with Gatley and Cheadle Hulme stations providing a direct link to Manchester Piccadilly.

The High Street has a good mix of local and national operators including Boots, Iceland, RBS, Nationwide, Costa Coffee and Sainsburys.

DESCRIPTION
The property is of frame construction with brick elevations under a part slate, part flat roof. The property comprises a large, well configured retail unit with WC and kitchen facilities towards the back of the property.

FLOOR AREAS
Retail: 1,767 sq ft
Office/retail: 525 sq ft
Ancillary space: 508 sq ft
Ground Floor Total: 2,800 sq ft

SALE PRICE
£675,000
A purchase at this price would reflect an attractive initial yield of 7.04%.

TENANT
The unit is currently let to Luxe Life Furniture on a 10 year full repairing and insuring lease from 5th May 2022 at a current rent of £50,000 per annum, with a tenant break on the 5th anniversary of the lease.

TENURE
The property is held Freehold.
Title number: GM172480

RATEABLE VALUE
£63,000

DEVELOPMENT OPPORTUNITY
The property and site have excellent future development potential, with a large secure yard to the rear of the property and the possibility to increase the main property to a two storey building. (subject to planning)