Property Detail

LOCATION

The site stands on the Sharston Industrial Estate, about 7 miles from the centre of Manchester.  The site is situated just off Junction 2 of the M56 on an established industrial estate, readily accessible for Manchester Airport, Stockport and the centre of Manchester.

THE SITE

The site extends to approx. 10.3 acres and is currently occupied by former diary premises comprising production area, fridges, warehousing with loading bays and offices. There is a roadway running around the petimeter of the site allowing easy movement of vehicles arond the existing buildings. On the eastern side of the site there is further warehousing and offices which were due to be demolished under a former planning approval.

DEVELOPMENT POTENTIAL

The land and buildings lend themselves for refurbishment and alteration with possibly some demolition and new construction together with further development on areas of currently open land. The immediate vicinity comprises predominantly industrial units. The site provides an ideal opportunity for substantial redevelopment of existing employment land.

TENURE

The property is held on a ground lease from the Council of the City of Manchester for a term of 125 years from 25th April 1996 at a current annual rent of £170,000 p.a. There is provision for reviews of the rent at 5 yearly intervals. Discussions with Manchester City Council indicate that they may be prepared to consider a re-gear of the lease.

RATEABLE VALUE

It is understood that the property is assessed for rating purposes at rateable value £285,000.

PLANNING

On enquiry of the Unitary Development Plan the area is zoned for major urban regeneration and is also zoned as an economic improvement area. There is little likelihood of alternative use other than for employment use but prospective purchasers should make their own enquiries of the Planning Department at Manchester City Council.

TERMS

Offers are invited for the long leasehold interest with vacant possession. Offers should specify the following:

The identity of the purchaser

Any conditions attached to the offer such as planning permissions and provision of finance

Level and timing of purchase price

Proposed redevelopment details on the site

PURCHASE NOTE

The vendor does not undertake to accept the highest or any offer received and will have absolute discretion in this regard.

Regulated by RICS