173-175 Cross St 994 SF Retail Building Sale M33 7JQ £550,000 (£553.32/SF) 6.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Passing rent of £36,000pa with ERV of £43,200pa
- Highly popular South Manchester location
- Two ground floor shops with 2 self contained 1-bed flats above
EXECUTIVE SUMMARY
The property comprises a pair of three storey mid terraced buildings of brick construction beneath a pitched slate roof. On the ground floor there are two shops, one which is a takeaway, the other a hair salon. On the first and second floors there are two self contained, 1-bed maisonette flats which are accessed via an entrance to the front of the property. To the rear of the property there is a car parking area with space for circa 4 cars.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Storefront Retail/Residential
Building Size
994 SF
Building Class
B
Year Built
1935
Price
£550,000
Price Per SF
£553.32
Net Initial Yield
6.50%
NOI
£35,750
Tenancy
Single
Number of Floors
1
Building FAR
0.04
Lot Size
0.65 AC
Parking
4 Spaces (4.02 Spaces per 1,000 SF Leased)
Frontage
27 ft on Cross Street
AMENITIES
- Storage Space
1 of 1
NEARBY MAJOR RETAILERS
CONTACT
-
Neale Sayle -
WT Gunson
