*****INVESTMENT**** 1 Castle Street, Macclesfield, SK11 6AF

Location

The property is in a prime location in the town centre of Macclesfield close to Marls & Spencer’s, JD Sports, Tesco Extra and Iceland Foods.

Description

Traditionally constructed the property provides some 120.85m2 (1301 sq. ft) restaurant/kitchen area to the ground floor and some 27.4 m2 (295 sqft) storage to the first floor.

The property is to be sold subject to a new 15-year FRI lease at a commencing rent of £26,000 per annum. This rent is considered to be highly reversionary giving prospect of good rental growth at review.

Proposition

Our client is seeking a consideration of £450,000 + VAT for the freehold interest equating to a NIY of 4.42% after the usual costs of purchase. (a net yield of 7.45% based on the ERV)

Rateable value

£30,250

EPC

B

VAT

Unless otherwise stated all figures are exclusive of Value Added Tax, any prospective purchasers should satisfy themselves of any liability to pay VAT on any transaction.

Legal costs

Each party is to pay their own costs.

Viewing information

For further information please contact us on the number below. Viewings are strictly by appointment with P R Gibbs & Co by telephoning 01942 844100 option 1 or email ctopping@prgibbs.co.uk. We are open from 9am to 5pm Monday to Friday