Skip to main content
  • Sign in

Retail premises for sale

£850,000 (£2,793.02/sq. ft) Offers over

Ordsall Lane, Salford, Manchester M5

Retail premises for sale 304 sq. ft*
Interested in this property? Call +44 161 506 9966 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

Location


Bridgewater Wharf is Manchester’s latest addition to the residential property market. Welcoming 376 premium apartments to a stunning waterfront location, the launch of Bridgewater Wharf Manchester provides the perfect time and place to invest in a city centre brimming with success and opportunity.

The property fronts on to the very busy Ordsall Lane, which links Old Trafford to Salford and then Manchester City Centre via Regents Road.

Manchester is a leading UK city with an undeniable global presence in the sectors of business, industry, education, culture and innovation. Bridgewater Wharf finds itself located in an enviable part of Manchester city centre, nestled between the digital business hubs of MediaCityUK, the trendy bars and restaurants of Deansgate, and the sleek retail and financial district of Spinningfields.


Description


The property is a newly built and predominantly 7 storey mixed use development of traditional brick construction, with restaurant and convenience store operators to the ground floor and residential apartments over.

The subject of this Sale is the Long Leasehold interest which is to be formed out of part of the ground floor which has been let to Tesco Stores Ltd on a new 15-year Fri lease.
The unit is let in a shell and core condition, with Tesco Stores Ltd agreeing to undertake their fit out as set out in the plans on the following pages. Tesco are due to commence fit out works imminently.


Accommodation


The property has been measured on a Gross Internal Area basis (gia) basis as follows:
260 Sq. M / 2,793 Sq. Ft


Tenancy


Let to Tesco Stores Limited on a new 15 year effective Fri lease without break options at a rent commencing at £56,000pa + VAT. A 9 month rent free period has been agreed for Tesco to undertake their fit out.

The lease is subject to 5 yearly upward only rent reviews in line with cpi, collared and capped at 1% and 3% respectively.


Covenant


Tesco is the largest grocery retailer in the UK, achieving its highest market share since February 2022, growing 0.6 percentage points to 27.7%.

The supermarket giant bolstered its position as the UK’s largest retailer as sales jumped 4.6% year on year, according to new data from Kantar.

Tesco serves customers throughout the UK across its more than 800 Tesco Extra and Superstores, and also its 2000 Tesco Express stores, for which this is one.


Sale


Offers are invited in excess of £850,000 for the long leasehold interest.
• Net initial yield of 6.24% (after allowing purchasers costs of 5.5%).
• Reversionary yield of 7.64% after the first review (assuming cpi growth of 3% per annum).
The long leasehold interest shall be for 250 years on completion of works at a peppercorn rent and will be subject to a service charge.


EPC


The property will be assessed following tenants fit out works.


Legal costs


Each party are to be responsible for their own costs incurred in this transaction.


VAT


We understand that this property has been elected for VAT, meaning that both the rental income and sale price are subject to VAT at the prevailing rate


Anti-money laundering regulations


In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

Property info

* Sizes listed are approximations. Please contact the agent to verify actual sizes.

Arrange Viewing

For more information about this property, please contact
Gifford Dixon, M20 on +44 161 506 9966 * (local rate)

Contact Gifford Dixon about this property

Enter details
    Morning (8am-noon)
    Afternoon (noon-5pm)
    Evening (5pm-9pm)
  1. Characters remaining: 500

By submitting this form, you accept our Terms of Use and Privacy Policy. When you click 'Send message''Request valuation', we will pass your personal data to the selected estate agents so that those agents can respond to your request for information or to arrange a viewing. valuation request.

Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Gifford Dixon, and do not constitute property particulars. Please contact Gifford Dixon for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

Similar properties for sale nearby

10 more properties like this

View all Ordsall Lane commercial property for sale