Fairfax Road, Manchester, M25

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The subject investment benefits from an extremely prominent and extensive frontage to Fairfax Road in Prestwich, Manchester and within very close proximity to the M60 Circular Motorway. The building is facing Prestwich Village Centre within 100 yards. The Premise neighbors one of the big M&S food outlets wall to wall.<span> </span><span>Fairfax</span><span> </span><span>Road</span> is also located off “Bury New Road” that leads directly in a straight path to the centre of Manchester.

<strong>DESCRIPTION</strong>
The investment comprises a two-storey and loft conversion. There are four self-contained one-bedroom apartments which are semi-furnished. All flats are let as AST (Assured Shorthold Tenancy) and managed by a nearby and local letting agent. The building is kept well maintained within government regulations,to the rear, is a car park with 4 individually allocated parking space.

<strong>FIXTURES & FITTINGS</strong>
The apartments are all semi-furnished and the kitchens are all supplied with white goods , hob and oven and water heaters with shower heaters in each bathroom.

<strong>The Shop Premise</strong>
The shop is let with a new 5 year ,<span>full maintenance and service lease contract with a two year break close in the interest of Landlord. yielding a consistent rent. The shop faces Prestwich Village Centre directly,Approx 40 square metres/430 square metres</span>

<strong>TENANCY DETAILS;</strong>

Shop Premise: £1,100 p.m.

Flat 1: £575  

Flat 2: £600  

Flat 3: £595  

Flat 4: £575  

 

<strong>Total current annual rental income: £</strong><strong>41,430</strong>

 

<strong></strong><strong>Key features</strong>

- Prominent Freehold mixed use investment comprising 1 ground floor retail unit with own entrance, 1 ground floor flat with own entrance & 3 first floor individual separate flats. Fully Tenanted.
- There is a big usable storage basement under the building.
- All 4 x 1 bed flats have their separate electric meters but no Gas supply to the flats.
- The shop has its own electric and gas supply and own meters.
- Water supply is communal.
- Rear off road car park for up to 4 domestic vehicles.
- All flats internals and the building roofing were maintained or renovated this year.
- Rent passing of £41,430 with potential to significantly increase immediately up to £42,000.
- Fitted Fire Alarm System
- Fitted intercom system.
- Freehold.
- Over 7.3% Gross Yield
      <span>Mains electricity, Gas, water and drainage are supplied and connected.</span></div><div class="STw8udCxUaBUMfOOZu0iL kJR0bMoi8VLouNkBRKGww"><span></span></div><div class="STw8udCxUaBUMfOOZu0iL kJR0bMoi8VLouNkBRKGww">
<strong>TENURE</strong>
Freehold.

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