Property description
563 Bury Road, Oulder Hill, Rochdale OL11 4DQ - Retail investment property with 3 commercial tenants
* Popular and successful established neighbourhood shopping area
* 2 ground floor “retail” tenants and 1 first floor “retail” tenant - all let
* Current total income £26,600 per annum exclusive
* Situated in a prominent position with forecourt display/parking area
LOCATION
The property forms part of the established and successful Oulder Hill neighbourhood shopping centre, set back from the busy Bury Road in a prominent position. Other users within the immediate area include Lloyds Pharmacy, The Italian Room Restaurant, Baguettes, & Bamford Wines, amongst others
The shopping area lies within a popular, affluent residential area, immediately to the west of Rochdale Town Centre.
GENERAL DESCRIPTION
The property comprises semi detached two storey retail premises, with two ground floor retail tenants and one first floor “retail” tenant.
The property is set back from the busy Bury main road with a front display/forecourt and parking area.
Ground Floor Unit 1 Trading as R BUK
Sales Area - 63.4 sq metres (682 sq ft) approx.
Rear Store - 11.1 sq metres (119 sq ft) approx
WC
Ground Floor Unit 2 Trading as Chequers Hairdressing Salon
Self contained and situated towards the rear of Unit 1
Comprises - Salon, Waiting Area, Staff Kitchen - 37.9 sq metres (408 sq ft) approx.
WC
First Floor Unit 3 Trading as The Beauty Salon
Comprises - Treatment Reception, 3 private treatment rooms, tanning room, store, WC, kitchen. External stair access. Gross internal area - 65.5 sq metres (705 sq ft) approx
TENANCIES
Ground Floor Unit 1
Trading as R BUK Gift Shop. The tenant is currently holding over from a previous 10 year lease. Current Rent £12,600 per annum exclusive
Ground Floor Unit 2 - Trading as Chequers Hair Design. The tenant is currently holding over from original lease. Current Rent £6,000 per annum exclusive.
First Floor Unit 3 - Trading as The Beauty Clinic. The tenant currently holding over. Current Rent £8,000 per annum exclusive.
All the tenants have indicated their desire to renew the leases.
VAT
We are advised that there has been no election for VAT. This must be confirmed by potential purchaser’s solicitors enquiries.
ENERGY PERFORMANCE CERTIFICATE
An energy performance certificate is available upon request.
PROPOSAL
We are instructed to seek offers in the region of £350000
SUBJECT TO CONTRACT
The property is offered Subject to Contract/Lease.