Property Details
Pugh Auctions
Lot 073
Lot 073
Auction: February Auction 2015

Unit 2, Margolis Building, 44 Back Turner Street, Manchester, Greater Manchester, M4 1FR

Property Details
Location

The property is located in the Northern Quarter of Manchester city centre fronting on to Back Turner Street which runs between High Street and John Street, the property is located below an office development scheme. Manchester Arndale shopping centre is in close proximity and Manchester Victoria railway station is approximately 300 metres to the north west.

Description

Restaurant investment over ground and basement levels located in the Northern Quarter of Manchester city centre. Part of which is new build and part of which is an old mill conversion.

Accommodation

The following information has been taken from the VOA website: Ground Floor: Restaurant, Bar and Kitchen 81 sq m (866 sq ft) Basement: Restaurant, Bar, Toilets and Storage 91 sq m (982 sq ft) Total: 172 sq m (1,848 sq ft)

Outside

Shared servicing to the rear.

Tenure

Leasehold for a term of 999 years from 1st January 2008 at a current rent of ú250 per annum.

Planning

Interested parties should consult direct with the Local Planning Office, Manchester City Council, Town Hall, Albert Square, Manchester, M60 2LA. Tel: 0161 234 5000, Fax: 0161 236 5909.

Tenancy

The restaurant over ground and basement levels is let to Montpellier's Bar Limited (Company Number 8397149) on a 10 year FRI lease from 8th August 2013 at an initial rent of ú25,000 per annum which is payable quarterly in advance. The lease allows for a indexed rent review on 25th March 2018 and a tenant only conditional break option on the 24th March 2018.

VAT

VAT at the prevailing rate is payable in addition to the gavel price unless the sale can be treated as a TOGC which will be strictly subject to the purchaser satisfying all necessary conditions for the sale to be treated as a TOGC prior to completion.

General

1. Energy Performance Asset Rating = B. 2. The property will be sold with the benefit of a premises licence.

Addendum

The property will be sold with the benefit of a premises licence.

Property Location Address:
Unit 2,
Margolis Building,
44 Back Turner Street,
Manchester,
Greater Manchester,
M4 1FR
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Auction Details
Auction: February Auction 2015 Date: 26th February 2015 Lot Number: 073 Doors Open: 12:00pm Bidding Starts: 12:00pm
Address:
Manchester City Football Club,
Manchester,
M11 3FF

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