Income Producing Freehold Investment Property with Accommodation For Sale

Business description

Sovereign Business Transfer is delighted to market an immaculate retail investment property with spacious self contained living accommodation situated in Reddish near to Stockport and Manchester City Centre.

Reddish is an area of the Metropolitan Borough of Stockport, in Greater Manchester, England. It is 2 miles north of Stockport and 4 miles southeast of Manchester.

Historically a part of Lancashire, Reddish grew and developed rapidly during the Industrial Revolution and still retains landmarks from that period, such as Houldsworth Mill, a former textile mill.

Today Reddish is a predominantly residential area, seeing a renewed period of growth and development as residents from nearby affluent areas such as Heaton Moor and Bramhall look to Reddish as a way of affording housing.

Rental Income
We are advised by our client that prior to the recent closure of the pet and grooming parlour the annual rental for the ground floor lock-up unit was circa £7800.00.

The first floor self contained living accommodation is occupied on a short term lease with an annual rental income of £5,160.00.

The single garage located to the rear of the property is currently let on a short term lease for £65.00 per calendar month.

The shop also has an illuminated advertising board that is subject to a ten year contract (start date: 2002) that provides an annual income of £250.00.

Trading areas
The shop previously traded as a successful pet and grooming parlour. The sales area is currently fitted with fixtures and fittings for a pet shop. The unit could easily be adapted for a wide range of uses ranging from a drop-in dental surgery to a convenience store. (Subject to change of usage being approved by Stockport Metropolitan Borough Council under The Town and Country Planning Act) To the rear of the property is a grooming room fitted with a raised bath and shower unit.

Property information

Property:

Freehold

Living accommodation:

Superb well presented residential living accommodation comprises of a sizeable lounge, fitted kitchen, one double bedroom and family bathroom. We are advised by the vendor that the property recently underwent a phase of modernisation that included the installation of a new boiler, double glazing and gas central heating.

Location:

Imposing end terrace property, positioned in a high profile dense residential area. The ground floor lock-up unit has a striking double frontage and is in excellent order inside and out. There is unrestricted road side parking to the front of the property and a free public car park opposite which is extremely beneficial to customers visiting the area.

Other information

Reasons for selling:

This is a genuine sale and the current vendor has successfully owned the property since 1991 and is only now offering the sale due to other business commitments.

Financing available:

Sovereign has a wealth of experience in arranging funding solutions from commercial loans to business and technology finance. We can deliver through our group of companies individually tailored funding solutions to meet each client’s budgetary requirements.