This office is now off the market

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ASDA Superstore Swinton Square 15 Wellington Road, Swinton Greater Manchester, M27 4BH – Manchester

This office is now off the market

Avison Young
Contact name
David Winterbottom
Full address
15 Wellington Road, Manchester, Swinton, Greater Manchester M27 4BR – Manchester
Property type
Office for sale
Asking price
£28,800,000
Features
Car park, Modern, Restaurant, Train transport
Size
72,913 sq ft
Estimated space
675 people
Tenure
Freehold
NIY (%)
5.15

Property description

An opportunity to purchase a prime foodstore investment situated within Swinton, a residen tial suburb situa ted 4 miles North West of Manchester city centre.
• A purpose built supermarket with adjoining car park developed in 2013 f or Asda’s occupation with a GIA of 72,913 sq ft t ogether with 348 cus tomer car parking spaces.
• Freehold.
• Secure income to Asda Stores Limited for a further 20 years, subject to 5 yearly fixed rental increases based upon 2.5% per annum uplifts.
• The rent rises on the 20th December 2018 t o £1,583,971 per annum which equates to £21.72 psf.
• We are instructed to request offers in excess of £28,800,000 (Twenty Eight Million, Eight Hundred Thousand Pounds)which represents a net yield of 5.15% net of purchaser's costs of 6.76%, subject to contract and exclusive of VAT. Assuming the fixed rental increases based upon the above price this offers the following yield profile. 2Oth December 2023 - 5.83% 2Oth December 2028 - 6.59% 2Oth December 2033 - 7.46%
• Swinton - Asda_49990.pdf

This office for sale is located in Manchester.

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