Savills Property Auctions | Former Princes Soft Drinks Site, Lord North Street, Manchester, M40 2HJ

1 November 2023: Wednesday 01 November 2023 - 9:00am

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Key features

Investment Currently Let at £730,308 pa (12.27% on Guide Price)
Substantial site & buildings comprising approximately 10,043.80 sq m (108,111 sq ft) of gross internal area
Total site area approximately 4.29 acres (1.736 hectares)
Comprises 36 tenants on licences
Ongoing active asset management opportunities
Possible future development potential

Description

The property, the former Princes Juice Factory, now comprises a number of industrial units, each let on short leases/licences. The property is split into two sites which are split by the railway. The total site size is approximately 4.29 acres (1.736 hectares).

Site A

Site A as shown edged red on the plans that are included within these particulars is situated at the junction of Lord North Street with Grimshaw Lane. The site provides accommodation with a Total Gross Internal Floor Area of approximately 45,469 Sq ft (4,224.2 Sq m). The accommodation provides a variety of separate office and warehouse/ workshop accommodation. To the elevation of the site, which fronts onto Grimshaw Lane on the North East side of the site, there is office accommodation with a rear warehouse/workshop accommodation attached. The warehouse has eaves heights ranging from 3.6 metres to 5.4 metres. The buildings benefit from a variety of dock levellers providing access to the commercial part of the premises. There is also a first floor section to the property structure which is currently arranged to provide a canteen and store. Access to the site is from Lord North Street with the access to the external areas that are used for car parking and circulation.

Site B

Site B as shown edged blue on the plans that are included within these particulars is located at fronting onto Lord North Street. The site provides accommodation with a Total Gross Internal Floor Area of approximately 62,642 Sq ft (5,819.6Sqm). The accommodation provides a variety of warehouse/workshop accommodation with an eaves height ranging from 3.624 metres to 6.45 metres. There are a variety of dock levellers and the access to the site leads to external areas used for car parking and circulation. Access to the site is via two access points from Lord North Street with these providing access to external areas used for circulation. Within the site there are a variety of outbuildings.

Tunnel

Please note it is our understanding that the licence agreements in relation to the tunnel underneath the railway have now been terminated and there is no longer any use of the tunnel to join the two parts of the site, although the purchaser may be able to enter into a new licence to use the tunnel once the site has been acquired.

Additional information

Tenure

Majority Freehold.

Site A - Freehold Tenure and is held under Title Number LA8922.

Site B - Freehold Tenure under Title Number LA32781 and part Long Leasehold being a 999 years from 25th December 1916 at a peppercorn under Title NumberGM744207.

Accommodation

The property comprises a substantial site & buildings comprising approximately 10,043.80 sq m (108,111 sq ft) of gross internal area on a site area of approximately 4.29 acres (1.736 hectares).

The property comprises 36 tenants

Tenancy

The property is let to a number of tenants, some on rolling leases/licences so the rent may be changeable. Please refer to the latest tenancy schedule in the legal pack.

Planning

The property may benefit from Change of Use/Development Potential. For further information please contact Manchester City Council (www.manchester.gov.uk).

Rent

£730,308 pa

Notes

VAT is applicable. The sale may be treated as a TOGC.

Contact

The property is prominently located at the junction of Lord North Street and Grimshaw Lane in the area of Greater Manchester known as Newton Heath. Newton Heath is an established commercial area located approximately 2.8 miles north east of Manchester City Centre. Nearby occupiers include the Etihad Stadium, Greater Manchester Police, Travis Perkins and a number of third party logistics companies.

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If no EPC rating appears please refer to the legal pack.

•Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

•The reserve price is the minimum price at which the property can be sold.

•Both the guide price and reserve price may be subject to change up to and including the day of the auction.

•For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

Please note that all prices listed, whether prior to or post auction, are subject to contract.

The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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