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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

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Investment Highlights

Prominent convenience store located in the desirable location of Ancoats, Manchester
New build convenience store built under residential accommodation.

Located in an affluent area located approximately 1 mile northeast of Manchester City Centre
Let entirely to undoubted covenant of Asda Stores Limited.

Executive Summary

Opportunity to acquire this long income investment property in Ancoats, Manchester. The property comprises a new build convenience store built under residential accommodation. The retail store is let entirely to undoubted covenant of Asda Stores Limited on a new FRI lease for a term of 15 years to start from the date of occupation with an initial rent of £140,000.00 per annum with the rent to be reviewed 5 yearly in line with RPI 2-4% cap and collar. Located in Ancoats an affluent area located approximately 1 mile northeast of Manchester City Centre.
The long leasehold 245 years remaining from 2025 is available with offers in the excess of £2,175,000 (STC) (Two Million One Hundred and Seventy-Five Thousand Pounds) to be considered, representing a yield of a Net Initial Yield 6.05%, assuming purchaser costs of 5.90% and after the rent-free period.

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