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Spear Street, Northern Quarter, Manchester, M1

Spear Street, Manchester.

Boutique hotel perhaps or just a good old mixed use building?

Make an offer!

Planning has been approved for the erection of five storey apartment building above basement level comprising 4 x 2 bed apartments and 1 x two storey two bed live/work space (ground floor and basement) REF: 118233/FO/2017

Current planning is for 5 storey residential plus basement. However it is considered that there is scope (STTP) for height to be increased. Several sites along Spear st have had 7 or 8 storeys approved inc the Hive, 53 spear St, and 76-82 Spear St latter 2 of which are currently under construction.

If you intend to borrow any money from a financial institution please make sure they are in a position to provide the funding in a timely manner, as they are currently experiencing extreme demands. For further information you can call us on 0161 443 4740 to discuss your individual circumstances

Planning

Planning has been approved for the erection of five storey apartment building above basement level comprising 4 x 2 bed apartments and 1 x two storey two bed live/work space (ground floor and basement) REF: 118233/FO/2017

Co - working 20 desks a floor charged at £200 = £4000 a month

x8 floors = £32,000 a month x12 £384,000 a year.


Current planning is for 5 storey residential plus basement. However it is considered that there is scope (STTP) for height to be increased. Several sites along Spear st have had 7 or 8 storeys approved inc the Hive, 53 spear St, and 76-82 Spear planning application references of 53 spear St (124836/NMC/2019) and 76-82 Spear st (110074/FO/2015/C2 ) .

The potential space with 7 storeys plus basement is circa 821 sq m

Location

Located in the vibrant Northern Quarter District of the City Centre this site should prove to be an astute development for the long term investor, the plans are self explanatory and if visiting the site you will see the multitude of developments happening currently bringing even more life to this part of Manchester. The "Northern Quarter" as such did not exist as a distinct area until the mid-1990s when a number of interested parties got together and defined a boundary, came up with the name and branded the area as such. This has proved extremely successful.

The Northern Quarter is popular today for its numerous bars and cafes, as well as its mix of music and clothes shops. Amongst these is Affleck's Palace, a former department store which has been turned into a multi-storey bazaar for alternative clothing and knick-knacks.

Meanwhile, the area is something of a mecca for DJs, with shops such as Piccadilly Records, Vinyl Exchange, Vox Pop Records, Beatin' Rhythm, Vinyl Resting Place, Eastern Bloc Records (formerly owned by Martin Price of 808 State, then by Pete Waterman) and, until 2009, Fat City Records (formerly run by Mark Rae).

Nightlife in the Northern Quarter includes music venues. The area is also famous for its bar scene.

The area is also known as a home to the creative industries, and in particular fashion design, with various designers, agencies, and clothing wholesalers populating its back streets. There are also a number of commercial art galleries in the area and street art is on prominent display. In Stevenson Square, the street level remains of a former public convenience are used by the OuthouseMCR organisation for regularly changing examples of street and graffiti art. OuthouseMCR also manages the urban art which decorates an electrical sub-station on Tib Street. On one wall of the sub-station, protected by Perspex, is said to be a painting by the artist Banksy. The Northern Quarter also hosted the Big Horn sculpture, which was removed in 2017 to make way for the new SyNQ residential

Possession

Vacant on completion site bought as and subject to any unauthorised use and occupation including unregulated parking and access that may exist.

Notes

All plans and architects drawings are for illustration purposes alone. Floor plans show potential alterations to current planning application. Lined OS map is for purpose of identification only: refer to legal pack for title plan and accurate boundaries.

Who, When, Where?

Edward Mellor Auction
Date: 18th March 2020; doors open at 12noon
Sheridan Suite, 371 Oldham Road, Manchester, M40 8RR

Bidding Procedure

If you are bidding for yourself you need to bring proof of ID: passport or driving licence, proof of address: bank statement, utility bill. Debit card, credit card, cheque book or banker's draft. Your solicitor's details.
If you are bidding on behalf of a Company, please bring the above ID (on condition you are a director) AND the certificate of incorporation for the company.
If you are bidding on behalf of another person/company please bring the above ID for both yourself AND the person/company who will be listed as the purchaser and a letter of authorisation from the purchaser for you to act and bid on their behalf.

Important Notice

Before buying at Auction, it is essential that you read our Notices to Prospective Buyers and the Common Auction Conditions
These can be found on our website www.edwardmellor.co.uk/auctions/buying-at-auction
You must not bid unless you have made yourself fully aware of the auction process
If you require help with this, please contact a member of the auction team

FINANCE

If you intend to borrow any money from a financial institution please make sure they are in a position to provide the funding in a timely manner, as they are currently experiencing extreme demands. For further information you can call us on 0161 443 4740 to discuss your individual circumstances

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