496, 496a & 496b Wilbraham Road, Manchester, Greater Manchester, M21

Location:
The property is situated on the prime south side of Wilbraham Road, to the west of the junction with Barlow Moor Road in Chorlton, approximately 4 miles south west of Manchester city centre.

Chorlton benefits from good transport links with Junction 7 of theM60 motorway approximately 2 miles south west. Chorlton Metrolink Station is within walking distance from the subject property.

Chorlton will be transformed with the redevelopment of the nearby shopping precinct into new leisure/retail units along with new homes along with green space directly to the rear of the subject property.

Description:
Adjoining two buildings 496 and 496b Wilbraham Road. Ground floor income producing retail units with vacant upper p arts primed for conversion into luxury residential flats.

There are seven rear parking spaces with each ground floor tenant befitting from one car parking space.

Investment Summary:

496 Wilbraham Road
Ground floor and basement let to Everest Pharmacy Ltd for a term of 25 years from 20 April 2012 at a passing rent of £34,000 per annum exclusive (no further break options). The tenant benefits from a storage area and one rear car parking space.

496b Wilbraham Road
Ground floor let to FC 003 Ltd t/a Filli for a term of 15 years from 27 March 2014 at a passing rent of £24,950 per annum exclusive (no break options). The passing rent will increase to £30,000 per annum exclusive wef 27thMarch 2025. tenant benefits from one rear car parking space. The first floor is ideal for a luxury loft-style residential conversion subject to planning consent.

There is development opportunity to extend at the rear of the properties to include an external modern glass staircase increasing the existing floor plan with the removal of the internal staircase along with an additional second floor to 496b which would increase the luxury flats to 5/6 in total (subject to planning).

Tenure:
The premises are freehold

Price:
Offers over £1,400,000 (no VAT payable).

EPC:
Available upon request.

Legal and professional fees:
Each party to bear their costs.

Date Prepared:
May 2024