Auction: June 2023 Online Auction 21/06/2023 - Bidding opens Tuesday 20th June 10:00 AM

137-139 Cheetham Hill Road, Manchester, Greater Manchester M8 8LY

Property Details
Mixed use investment opportunity detailing a total overall income of £33,960 per annum. The property comprises two linked two storey mid-terrace commercial units comprising Nr 137 and Nr 139. Nr 137 incorporates a fast food restaurant and children's soft play centre, which we understand is let on a five year lease from November 2022 at an annual rent of £18,000 per annum. Nr 139 provides access to the first floor, via the ground floor, which operates as a a sheesha lounge, let under the remaining term of a 7 year lease at a passing rent of £12,000 per annum. The second floor comprises 4/5 bedrooms, a shared kitchen and bathroom and additional stores all accessed via a ground floor entrance shared with the the first floor tenant (Sheesha Lounge Ltd) at Nr 139. Rooms 2 & 3 of the 2nd floor are occupied under a single AST agreement detailing an annual equivalent rent of £3,960.
A mixed commercial area in the Cheetham Hill area of Manchester located approximately 1 mile from Manchester City Centre. Cheetham Hill Road is one of the main arterial routes into Manchester City Centre which connects with the A576 and provides access to Junction 19 of the M60 Motorway.
Pugh & Co. have not inspected the property internally and the following details have been provided by the Vendor. Interested parties must satisfy themselves.

GROUND FLOOR (137)Fast food restaurant and children’s soft play centre
FIRST FLOOR (139)No.139 provides ground floor access to the first floor operating as a sheesha lounge
SECOND FLOORNo. 139 provides ground floor access to the second floor which comprises 4/5 bedrooms, a shared kitchen and bathroom and additional stores. This part of the property extends to approximately 115 Sq M (1,234 Sq Ft)

Good leasehold title.
We understand the property is subject to the following occupation however interested parties must satisfy themselves.

GROUND FLOOR (137)Five year term from November 2022 at a rent of £18,000 per annum
FIRST FLOOR (139)Originally let by way of a lease dated 17 August 2012 for a term of twenty years stating that the initial rent was £10,200 per annum. The tenant has advised the Vendor that a new lease has been granted for a period of 7 years at a passing rent of £12,000 per annum.
2nd FLOOR (137-139)Rooms 2 & 3 are let by way of an AST, commencing 1st August 2022 with an end date of 31st January 2024, detailing a monthly rent of £330.

Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.


3. Energy Performance Certificate :
Ground Floor - 137-139 Cheetham Hill Road: D.
First Floor - 137-139 Cheetham Hill Road: B.
Pugh & Co have not seen a copy of the new 7 year lease at £12,000 p/a that the tenant of the first floor has referred to.

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