Acquired
Moston – Coral Betting Shop & Ground Rent
401/401a Hollinwood Avenue, Moston, Manchester, Lancashire, M40 0JQVirtual Freehold Betting Office and Residential Ground Rent Investment
Tenure
Leasehold
Lease Term
10 Years
Years Left on Lease
4y 10m
Area
833 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Shop let to Ladbrokes Betting & Gaming Limited on a new 10 year lease
- Shop rent review 2024
- Tenure: Leasehold. Held on a lease for 999 years from 25.07.1905 with a fixed ground rent of £3.00 per annum
- Located close to Moston Railway Station in a predominantly residential area
- Occupiers close by include AG Barr, Londis and a number of independent retailers.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
The property is arranged as a Ground Floor A1 commercial unit trading as a betting shop and 1 flat sold on long lease (subject to a lease for a term of 99 years from 01.04.1993).
The property provides the following accommodation and dimensions:
Ground Floor Shop:
Shop: 833 sq ft
The property provides the following accommodation and dimensions:
Ground Floor Shop:
Shop: 833 sq ft
Tenancy Description
The shop is at present let to Ladbrokes Betting & Gaming Limited for a term of 10 years from 30th September 2019 at a current rent of £11,000 per annum with ground rent for the upper flat of £50 p.a. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring by way of the schedule of conditions.
Tenancies & Accommodation
Location Description
Moston is a residential suburb of Manchester, the principal industrial, cultural and commercial centre of the North West, and is located some 3 miles north-east of the City Centre. The property is situated on the south of Hollinwood Avenue, close to the Greengate Roundabout. The City benefits from excellent communications via the M60, M62, M56, M66 and M67 motorways. Moston Station has regular services to Manchester (9 minutes fastest).