TO BE SOLD UNDER AUCTION CONDITIONS
A rather unique opportunity for investors, which comprises a modernised bar & restaurant over the ground floor and basement of the property in the heart of the thriving Student area of Fallowfield, Manchester.
GIA circa 125 SQM (1,345 SQFT) over the two floors
The property produces an exceptionally good return on investment with future growth anticipated.
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 https://edwardmellor.co.uk/auctions/buying-at-auctionYou 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.
Fallowfield is a suburb of Manchester, it lies 3 miles (5 km) south of Manchester city centre and is bisected eastwest by Wilmslow Road and northsouth by Moseley Road and Wilbraham Road.
The area has a very large student population. The University of Manchester's main accommodation complex the Fallowfield Campus occupies a large area in the north; these are adjacent to the university's Owens Park halls of residence and the Firs Botanical Grounds.
The lot on offer is the ground floor and basement of the newly refurbished "HQ Grill Bar & Restaurant", which is sold with the benefit of an income producing lease which has recently been signed for 10 years from July 2018, rental value £27,000 per annum. The10 year lease has a 5 year break clause a 3 year upward rent appreciation and the tenant has already paid 6 months advance rent and 3 months deposit.
This unit is one of the largest in terms of ground floor and basement area, has at least 60 covers and was granted A3/A5 and alcohol licence, there is a restriction on change of use for food business in this area, so this is a very good opportunity for investment as limited units are left with food and alcohol licence. The unit has been extended at the rear historically.
Please do respect the privacy and quiet enjoyment of the tenant and we respectfully request that any interested party contact the agent directly to arrange inspections where required. EPC rating C (75)
Who, When, Where?
Under auction terms
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
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1 St Petersgate