END Clothing, 6-14 St Marys Gate, Manchester_Property for Sale

St Mary's Gate, Manchester, M1 1PX, UK

END Clothing, 6-14 St Marys Gate, Manchester

Asset Description

The property is an attractive traditional terraced building constructed with a masonry and steel with recent internal refurbishment. The scheme is arranged over ground, first and second floors plus a basement across two self-contained retail units.

6-14 St Mary’s Gate is located within Manchester City Centre and is positioned in close proximity to The Arndale Centre and Market Street, Manchester’s primary retailing area. In the immediate surrounding area, there are a number of independent and national retailers such as Marks & Spencer, Zara, Greggs, Molton Brown, L’Occitane. Both retail units benefit from frontage on St Mary’s Gate which is a continuation of Market Street with Deansgate also located 50 ft to the east.

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Attributes

Building area net

2,763 m²

Occupancy

100%

Number of units

WAULT

9.2 years

Media

Investment Highlights

Opportunity to purchase a prime high street asset situated at the conjunction of Market Street, New Cathedral Street and Deansgate
The property is fully-let to the outstanding covenants of Ashworth & Parker trading as END. (Creditsafe 97/100) and national multiple Oliver Bonas (Creditsafe
96/100).
St Mary’s Gate is located virtually opposite The Arndale Centre and benefits from significant footfall leakage from The Arndale, Market Street, Deansgate and New Cathedral Street.
Manchester is the UK’s primary financial and business centre outside of London. It has a catchment population of 2.5 million and ranks 2nd only to London in terms of UK retail centres.
Oliver Bonas have just agreed a reversionary lease extending their term by 5 years showing their commitment to the location.
Passing rent of £565,000 per annum with a WAULT of 9.2 years to expiries.