The Rat and Pigeon, 33 Back Piccadilly, Manchester, M1 1HP
Offers in Excess of
£885,000
£781.11 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
1,133 sq ft
105 sq m
- SECTOR
Commercial property for sale
Key features
- Freehold public house investment
- Entire property let to M1 1HP Ltd
- Property arranged over four levels: basement, ground, first and second floors
- Current rent of £66,950 per annum
- The rent is subject to five yearly open market reviews (from the 10th anniversary) and annual RPI increase with a collar of 1% and a cap of 4% (except in the open market review year)
- We are instructed to invite offers in excess of £885,000 (7.16% NIY)
- Lease expires July 2043
- Site extending to 0.026 acres
- Business unaffected by sale
Description
Description
The property comprises the ground, basement and two upper floors of a three storey corner building with painted brick elevations beneath a pitched roof.
Location
Located in the city of Manchester in the Northern Quarter district of the city, 35.3 miles (56.5 kilometres) east of Liverpool and 44.4 miles (71.0 kilometres) south west of Leeds.
The Rat & Pigeon is situated at the intersection between Back Piccadilly and Little Lever Street in centre of the Northern Quarter and a short distance from Piccadilly Gardens. Nearby occupiers includes Piccadilly House (JD Wetherspoon), Popeyes, Five Guys and Pret.
Accomodation
Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables, chairs and bench seating for 50 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.
First Floor: The first floor comprises a venue for 65 customers with a bar servery and small lounge.
Second Floor: The second floor comprises a games room and a further public bar with seating for 40 customers alongside a band room and WC.
Basement: The basement provides a cellar, office and stores.
Tenure
The property is held freehold (Title Number GM871494).
Tenancy
The entire property is let to M1 1HP Ltd on a 20 year lease from 13 July 2023 at a current rent of £66,950 per annum which is subject to five yearly open market reviews (from the 10th anniversary) and annual RPI increase with a collar of 1% and a cap of 4% (except in the open market review year). A rent deposit of £14,646 is held by the landlord.
Planning
The property is not listed however it is situated within Stevenson Square Conservation Area.
VAT
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.
EPC
In the course of preparation.
Terms
We are instructed to invite offers in excess of £885,000 (7.16% NIY) assuming the usual purchasers costs.
Fixtures and Fittings
The fixtures and fittings are currently owned by the occupational tenant.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.
Viewings
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff. For further information and all viewing requests please contact the sole selling agents Savills.
Similar Investment Opportunities
If you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing:
The property comprises the ground, basement and two upper floors of a three storey corner building with painted brick elevations beneath a pitched roof.
Location
Located in the city of Manchester in the Northern Quarter district of the city, 35.3 miles (56.5 kilometres) east of Liverpool and 44.4 miles (71.0 kilometres) south west of Leeds.
The Rat & Pigeon is situated at the intersection between Back Piccadilly and Little Lever Street in centre of the Northern Quarter and a short distance from Piccadilly Gardens. Nearby occupiers includes Piccadilly House (JD Wetherspoon), Popeyes, Five Guys and Pret.
Accomodation
Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables, chairs and bench seating for 50 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.
First Floor: The first floor comprises a venue for 65 customers with a bar servery and small lounge.
Second Floor: The second floor comprises a games room and a further public bar with seating for 40 customers alongside a band room and WC.
Basement: The basement provides a cellar, office and stores.
Tenure
The property is held freehold (Title Number GM871494).
Tenancy
The entire property is let to M1 1HP Ltd on a 20 year lease from 13 July 2023 at a current rent of £66,950 per annum which is subject to five yearly open market reviews (from the 10th anniversary) and annual RPI increase with a collar of 1% and a cap of 4% (except in the open market review year). A rent deposit of £14,646 is held by the landlord.
Planning
The property is not listed however it is situated within Stevenson Square Conservation Area.
VAT
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.
EPC
In the course of preparation.
Terms
We are instructed to invite offers in excess of £885,000 (7.16% NIY) assuming the usual purchasers costs.
Fixtures and Fittings
The fixtures and fittings are currently owned by the occupational tenant.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.
Viewings
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff. For further information and all viewing requests please contact the sole selling agents Savills.
Similar Investment Opportunities
If you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing:
Brochures
The Rat and Pigeon, 33 Back Piccadilly, Manchester, M1 1HP
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Piccadilly Gardens Tram Stop0.1 miles
- Market Street Tram Stop0.2 miles
- Mosley Street Tram Stop0.2 miles
Notes
These notes are private, only you can see them.
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