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Asda 252 Great Ancoats St 2,914 sq ft Retail Property Manchester M4 7DB £2,175,000 (£746.40/sq ft) 6.05% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prominent convenience store located in the desirable location of Ancoats, Manchester.
- New build convenience store built under residential accommodation.
- Let entirely to undoubted covenant of Asda Stores Limited.
- New FRI Lease for a term of 15 years to start from the date of occupation. Agreement for Lease is in place between Asda Stores Limited and the landlord FG Victoria House Limited.
- Rent to be reviewed 5 yearly in line with RPI (2-4% cap and collar.).
- Ancoats is an affluent area located approximately 1 mile northeast of Manchester City Centre.
- Well configured convenience store providing 2,914 sq ft of retail space.
- Practical Completion Q2 2025.
- The initial rental will be £140,000 per annum (£48 psf) with an initial rent-free period of 12 months.
- Long Leasehold - 245 years remaining from 2025 with no premium payable.
EXECUTIVE SUMMARY
We are instructed to seek offers in the excess of £2,175,000 (STC) (Two Million One Hundred and Seventy-Five Thousand Pounds)
For our client’s long leasehold interest, representing a yield of: Net Initial Yield – 6.05%
Assuming purchaser costs of 5.90% and after the rent-free period.
For our client’s long leasehold interest, representing a yield of: Net Initial Yield – 6.05%
Assuming purchaser costs of 5.90% and after the rent-free period.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Shopfront Retail / Residential
Property Size
2,914 sq ft
Costar Property Class
B
Year Built
2025
Price
£2,175,000
Price per sq ft
£746.40
Yield
6.05%
NOI
£131,588
Tenancy
Single
Number of Floors
1
Plot ratio
0.20
Total Plot Size
0.33 ac
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Asda | 252 Great Ancoats St
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