LONG INCOME INVESTMENT SALE

Key Information

• Prominent convenience store located in the desirable location of Ancoats, Manchester.
• Ancoats is an affluent area located approximately 1 mile northeast of Manchester City Centre.
• New build convenience store built under residential accommodation.
• Well configured convenience store providing 2,914 sq ft of retail space.
• Let entirely to undoubted covenant of Asda Stores Limited.
• Practical Completion Q2 2025
• New FRI Lease for a term of 15 years to start from the date of occupation. Agreement for Lease is in place between Asda Stores Limited and the landlord FG Victoria House Limited.
• The initial rental will be £140,000 per annum (£48 psf) with an initial rent-free period of 12 months.
• Rent to be reviewed 5 yearly in line with RPI (2-4% cap and collar.)
• Long Leasehold - 245 years remaining from 2025 with no premium payable.

Property Description

Victoria house is an elegant new development in Manchester's Ancoats area making a striking impression on the city's skyline sat on a former warehouse site. The site now comprises 177 apartments within a 25 storey building with the ground floor comprising a self-contained convenience store of brick elevation and glass return frontage.

Manchester is a dynamic, thriving city at the heart of the UK, offering a perfect blend of heritage and innovation. The city itself has a population of around 550,000, while the Greater Manchester area is home to over 2.8 million people, making it one of the largest metropolitan regions in the UK. Known worldwide for its iconic football clubs, Manchester United and Manchester City, it is a global hub for sports, culture, and business. The city features top-tier shopping, vibrant nightlife, and a wealth of museums and galleries, making it a must-visit destination. With world-class universities and a booming tech industry, Manchester is also a prime location for professionals and entrepreneurs. Its mix of historic charm and modern development creates an unbeatable urban experience. The unit is located in a highly prominent position overlooking Great Ancoats Street on the edge of Manchester City Centre. The unit forms part of the ground floor of the newly developed Victoria House complex - a 25-storey residential tower of 177 apartments. The immediate area is mix of residential and commercial in nature. The property benefits from excellent transport connections with New Islington Metrolink Station is approximately a 2-minute walk to the east and piccadilly Station approximately is located within a 5-minute walk to the west. The Northern Quarter is a 5-minute walk and Piccadilly Gardens can be reached within 10 minutes. The Manchester Ring Road is located the southwest and can be accessed via Great Ancoats Street within 2 minutes. The area benefits from on street parking. Surrounding occupiers include Costa Coffee, Dominos Pizza, Leonardo Hotel, IBIS Budget Hotel and Shakealicious.