74 Chestergate 570 SF Retail Building Macclesfield SK11 6DY £185,000 (£324.56/SF) 5.41% Net Initial Yield
INVESTMENT HIGHLIGHTS
- PRICE REDUCED
- Good frontage
- Opportunity to increase the income by re-letting the apartment
- Located in a prominent position in Macclesfield town centre
- High footfall area
- Macclesfield bus and railway stations approx. 10 minute walk away
EXECUTIVE SUMMARY
An attractive retail unit with residential space above. The shop itself boasts good, prominent frontage in a prime location on Chestergate. The residential unit consists of one apartment spread over two floors and has a separate access to the rear of the building.
The ground floor is currently let on a 6 year lease from 10th November 2020, at a passing rent of £10,000 per annum. The 1st and 2nd floor apartment has recently become vacant after being let on an AST to the same tenant for a number of years.
The ground floor is currently let on a 6 year lease from 10th November 2020, at a passing rent of £10,000 per annum. The 1st and 2nd floor apartment has recently become vacant after being let on an AST to the same tenant for a number of years.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
570 SF
Building Class
B
Year Built
1912
Price
£185,000
Price Per SF
£324.56
Net Initial Yield
5.41%
NOI
£10,000
Tenancy
Single
Number of Floors
3
Building FAR
0.65
Lot Size
0.02 AC
AMENITIES
- 24 Hour Access
1 of 1
NEARBY MAJOR RETAILERS
