Manchester, 31 Market Street, Schuh_Property for Sale

31 Market Street, Manchester, M1 1WR, UK

Manchester, 31 Market Street, Schuh

Asset description

The property is situated in a 100% prime position on the northern side of Market Street close to Brown Court, one of the busiest entrances into the Arndale Shopping Centre. Nearby retailers include H&M, Adidas, Urban Outfitters, Uniqlo and TK Maxx.

The property, is arranged over ground floor and basement, comprising a total floor area of 6,605 sq ft / 614 sqm, as more particularly described in the tenancy section.

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Attributes

Asking price

$4,988,000

Building area net

6,605 sf

Occupancy

100%

Year built

1979

Units

Tenure

Leasehold

Cap rate

9.85%

NOI

$524,000

Media

Investment highlights

Manchester is the largest financial and business centre outside of London and is regarded as being the capital of the north, ranked by KPMG as the most competitive business location in Europe since 2010.
Northern Powerhouse regarded as the UKs second city from an economic perspective (Centre for Cities).
Key employment and cultural hub, a major tourist destination and one of the largest student populations of any city in Europe.
Consistently one of the best PMA Centres ranked 1st of the 200 Promis Centres, based on the consumer population and 2nd on the PMA Fashion score.
Property is located in a 100% prime trading location on the pedestrianised Market Street fronting the Arndale Centre.
6,605 sq ft store arranged over ground and basement floors.
Let to the undoubted covenant Schuh Limited with over 4 years remaining on the lease.
Passing rent of £415,000 per annum
Held Long Leasehold expiring 14th September 2136 at a peppercorn rent.