Office Investment - 1,432 sq. ft. (133.1 sq. m.) – producing £16,900 per annum

Tenanted two-storey mid-terrace office building, estimated to have been constructed in the late 1980’s, of brick and concrete construction under a pitched tiled roof. The unit provides mainly open plan office accommodation at ground and first floor level, with staff canteen/breakout room on the first floor, kitchen facilities on each floor and WC’s. The unit benefits from: gas central heating, suspended ceilings, perimeter trunking, security alarm and fire alarm. The accommodation further benefits from external electric security shutters. Externally there are 6 car parking spaces to the front. Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip/

Tenure

Leasehold. GM561938

Accommodation

Unit 22 Ground 696 NIA (sq. ft.) 64.7 NIA (sq. m.) First 736 NIA (sq. ft.) 68.4 NIA (sq. m.) Total 1,432 NIA (sq. ft.) 133.1 NIA (sq. m.)

Tenancy

The property is let to Track Line Training Limited on a 10 year lease from 26th July 2016, expiring 25th July 2026 at a passing rent of £16,900 per annum, equating to £11.75 psf.

Estimated Rental Value

Based on nearby comparables we consider the ERV to be in the region of £21,570 per annum (£15 psf).

Service Charge

The current service charge for year 2024/2025 is £1.00 psf.

Tenure

The property is held Virtual Freehold, by way of a 999 year (less 10 days) Long Leasehold from 30th June 1989. Title: GM561938

Transaction & VAT

We understand that the property is elected for VAT, and we anticipate that the transaction will be handled as a Transfer of a Going Concern (TOGC).

Location

Waters Edge Business Park is located on Ordsall Lane and contains a mixture of office and industrial premises. The park is home to an array of businesses, with nearby occupiers including TalkTalk, PureGym, Soapworks and Wingstop. The property is located on Waters Edge Business Park on Modwen Road which runs off Ordsall Lane (A5066) in Salford. Exchange Quay Metrolink Station is within easy walking distance. Salford Quays including the Lowry Shopping Centre is approx. 1 mile to the west. Junction 3 of the M602 motorway is approx. 1 mile north-west. Manchester City Centre is approx. 1 mile north-east. The property is situated in a mid-terrace position off Modwen Road and overlooking the Manchester Ship Canal.

Tenure

Tenure: Long leasehold Title number: GM561938 Length of Lease/Term: 999 year (less 10 days) from 30th June 1989. Ground Rent : See legal pack Service Charge: See legal pack Local Authority: Salford

IMPORTANT INFORMATION

Buying at auction is a contractual commitment, you are legally obliged to buy the lot on the terms of the sale memorandum at the price you bid. If you are the successful bidder, you are required to pay the deposit and auction fees immediately. As agent for the seller, we treat any failure to satisfy your obligations as your repudiation of the contract and the seller may then have a claim against you for breach of contract. You must not bid unless you wish to be bound by the common conditions of auction.

ANTI-MONEY LAUNDERING REGULATIONS

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects. Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.

Energy Efficiency Rating (EPC)

Current Rating C

Local Authority

Salford City Council

Solicitors

Myerson Solicitors, Ref: Myerson Solicitors, Tel: 0161 941 4000

Offered in association with

Roger Hannah

Additional Fees

Administration Charge - 2.5% inc VAT of the purchase price, subject to a minimum of £1980 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.