Posted: 21.07.21 at 08:51 by Alexander Greensmith
UPDATE 20.9.21 The price is now just £275,000
A tantalising investment opportunity has opened for property investors in Macclesfield town centre.
Both accommodation and business properties are available on Brown Street, which is listed with Belvoir Macclesfield.
The excellent investment opportunity for a shop and a pair of flats is situated towards the end of Brown Street, adjacent to Barton Street.
Belvoir Macclesfield will hear offers in the region Of £289,950.
While this is double the average price for Brown Street, for that price you are getting an amazing deal of two flats plus a frequented business.
All tenants will remain in situ at the Macclesfield flats, which means no new tenants will need to be found.
The address 71-73 Brown Street is best known to locals at the home of newsagents Park News.
Belvoir Macclesfield said: "A unique opportunity has arisen to purchase a fantastic investment property consisting of a commercial shop and two flats."
"The property is located in a popular residential area of Macclesfield providing good passing footfall throughout the year, and benefits from a long lease in place for the commercial shop unit.
"Current gross income of £20,700 equating to over 7.1% yield.
"To the ground floor there is a commercial space which is currently trading as a local convenience store."
The lease on the ground floor commercial unit is signed through to 31st March 2035, with an annual rent of £9,600 per annum. It also has an EPC rating D which is valid until February 2025.
The primary retail space is 427 square ft, and the storage space for the company is 128 square ft.
It has a rear porch with a WC and basin at 26 square ft, along with a 120 square ft cellar.
"To the first floor and accessed via their own separate entrance are two flats, both of which are one bedroom," added Belvoir Macclesfield.
"Both flats are currently tenanted on Assured Shorthold Tenancy agreements and come part-furnished.
"Flat 1 is the larger of the two, and provides a spacious living room, fitted kitchen, double bedroom with fitted furniture, and a bathroom.
"The first flat has a current rental of £5,700 per annum with the AST fixed until March 9 2022.
"Flat 2 consists of a bright open plan lounge and modern kitchen, with the lounge area having a feature fireplace.
"A generous sized double bedroom with fitted wardrobe, compliments this flat and there is also a good size shower room.
"It has a current rental of £5,400 per annum with the AST fixed until September 21 2021."
The tenure is freehold for this Macclesfield investment opportunity.
Viewings are strictly by appointment only. Please contact Belvoir Macclesfield to arrange.
You can also email [email protected]
Belvoir Macclesfield are a small, family-ran operation, who work from 120-122 Mill Street.
They are commercial partners with Macclesfield Nub News. You can learn more about them here.
Last week we reported on a for sale property that you can live in for £389,950. You can read about the Macclesfield Edinburgh Drive property here.
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