GREENSIDE TRADING CENTRE

Size: 100000 Sq Ft

Status: Under Offer

PROPERTY DESCRIPTION

The investment, known as Greenside Trading Centre, consists of three buildings totalling approximately 100,000 sq. ft split across a 2.5-acre site. Formerly known as Beehive Works. The complex was built by the Co-operative in the 1900's. Block 1 is to be retained in a separate Title and does not make up part of the sale. This consists of a two storey, single-let, self-contained Veterinary practice together with some ancillary parking. Block 2 consists of a brick-built, two-storey premises with roller shutter access to various units on the ground floor. Fully let with 5 tenants on the ground floor and 2 at first floor level. Block 3 comprises of a single-storey, former North Light Mill with part Georgian wired glass and part slate roofs. The elevations have been profile steel clad. There are 9 units at ground floor level with 1 at first floor level. Block 4, known as "The Mill", is a four storey Accrington brick-built mill. With 11 individual tenants operating within the facility,

Situated in Droylsden Town Centre on the north side of Greenside Lane, immediately north of Greenside Shopping Centre. Occupiers include Tesco Superstore, Iceland, B&M, Poundland and Quality Save. Except for Droylsden Town FC, the area north of Greenside Lane is densely populated with residential. The local area has recently benefited from the introduction of the Metrolink, the regeneration and development of Droylsden Marina and a new large residential Bellway/Taylor Wimpy development of the 'Jam Factory' Site within close proximity. The site is located in the Town Centre boundary of Droylsden and adjacent to the retail park and town's football club . The site is a 5-minute walk to the Metrolink, 5-minute drive to junction 23 of the M60 and a 15-minute drive to Manchester City Centre. The property fronts Greenside Lane, which is a short commute from the A662. This runs from Droylsden centre to Manchester city centre via Ashton New Road and provides direct access to the M60 ring road, which in turn links to the M67; M62, and the M56.

We understand the site is fully let and consists of 28 Lettable Units across 3 blocks, 14 Storage Containers, Open Storage Compounds together with Car Parking, all documented on leases outside of the Landlord and Tenant Act 1954. The Gross passing rent is currently £291,744 per annum. This figure is inclusive of operating costs. Average operating costs taken from the past three years is equivalent to £24,124 per annum (Years ending 30.06.2021, 30.06.2022 and 30.06.2023). A pro rata figure for the current year ending June 2024 is currently £24,111 based upon the 31st January 2024 P+L. We understand that each demise is rated separately, and most tenants benefit from small business rates relief. The electric and gas (where applicable) is sub-metered and charged back to the tenants monthly.

£3,000,000

All figures within this document exclude VAT. VAT is applicable on the sale; it is envisaged that the sale will be dealt with by way of a TOGC.

Strictly by appointment with the sole agents. Nolan Redshaw Contact: Harry Bowers Tel: 0161 763 0826 Email: harry@nolanredshaw.co.uk Contact: Jonathan Pickles Tel: 0161 763 0825 Email: jonathan@nolanredshaw.co.uk

• High yielding multi-tenanted investment
• Low current passing rents
• Town centre site
• Approx 100,000 sq.ft plus storage containers, open storage compounds and car parking
• Each party to be responsible for their own legal fees.

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