Investment Consideration: Gross Initial Yield: 9.21% Rental Income: £11,050 p.a. VAT is NOT applicable to this property Shop let to Ladbrokes Betting & Gaming Limited on a new 10 year lease Shop rent review 2024 Tenure: Leasehold. Held on a lease for 999 years from 25.07.1905 with a fixed ground rent of £3.00 per annum Located close to Moston Railway Station in a predominantly residential area Occupiers close by include AG Barr, Londis and a number of independent retailers.
Property Description: The property is arranged as a Ground Floor A1 commercial unit trading as a betting shop and 1 flat sold on long lease (subject to a lease for a term of 99 years from 01.04.1993).
The property provides the following accommodation and dimensions: Ground Floor Shop: Shop: 833 sq ft
Tenancy: The shop is at present let to Ladbrokes Betting & Gaming Limited for a term of 10 years from 30th September 2019 at a current rent of £11,000 per annum with ground rent for the upper flat of £50 p.a. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring by way of the schedule of conditions.
Location: Moston is a residential suburb of Manchester, the principal industrial, cultural and commercial centre of the North West, and is located some 3 miles north-east of the City Centre. The property is situated on the south of Hollinwood Avenue, close to the Greengate Roundabout. The City benefits from excellent communications via the M60, M62, M56, M66 and M67 motorways. Moston Station has regular services to Manchester (9 minutes fastest).
