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    Key features

    • To be offered on Wednesday 10 December
    • Prime Manchester City Centre Location
    • Substantial mixed use building,with triple retail frontage.
    • 9 x 2 bedroom self contained apartments let to serviced apartment operator Dream House (2000) Limited (Holding Over)
    • Evident asset management potential via new letting of apartments , with a new operator or existing operator
    • Total accommodation comprises 8,085 sqft (747.34 sqm).
    • The property is not elected for VAT
    • Investment let at £136,500 per annum

    Description

    A substantial long leasehold investment , occupying a prominent position in Manchester City Centre. The property comprises a 2,053 sqft(190.74sqm) triple frontage restaurant unit over ground floor and basement , and 9 x 2- bedroom self contained apartments to the upper floors . There is clear asset management potential via the agreement of a new lease.

    Please refer to the tenancy section for the full tenancy schedule.

    The property occupies a prominent position on Liverpool Road, Deansgate. The immediate area provides a plethora of retail , leisure and hospitality venues. Notable occupiers include, Odeon Cinema, Hawksmoor, Dirty Martini, Hilton Hotel and many more.

    Additional information

    Tenure

    Long Leasehold - 150 years less 2 days from 24 December 1999. Subject to a ground rent of £3,000 per annum (The ground rent is payable in whole by LFB Restaurants LTD) .

    There are no provisions for rent reviews during the term of this lease.

    Tenancy

    The ground floor and basement restaurant is let entirely to LFB Restaurants Ltd trading as Italiana Fifty Five - who operate three branches across Manchester. Please see the below link to their website.

    https://italianafiftyfive.co.uk/

    Rent

    £136,500

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

    Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      The property occupies a prominent position on Liverpool Road close to its junction with Deansgate (A56) which is one of the main arterial routes through Manchester city centre. There are various notable properties within close proximity,including the Beetham Tower which is a high rise building accommodating the Hilton Hotel.

      Transport

      Deansgate Train Station - 0.4 Miles

      Manchester Piccadilly - 0.9 Miles

      Legal documents

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      EPC rating

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

      Guide prices and common auction conditions

      •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.

      Addendums