Mixed Parade (8 shops & 2 offices), Ashton-under-Lyne

Property Description

• Freehold Unbroken Mixed Parade Investment.
• Substantial property providing 31,200 sq ft (2,900 sq m).
• The property comprises a prominent multi-let retail parade, primarily occupied as ground floor retail space with ancillary sales and storage above.
• The property is constructed via brick elevations with retail frontage and fit out to the ground floor. Modern uPVC windows have been installed throughout the upper floor offices beneath a flat roof.
• The upper floor offices also have the benefit of a passenger lift.
• A large service yard serves the rear of the retail units and is shared with adjoining occupiers.

Location Description

• Located Prominent unbroken parade in the very heart of the popular town of Ashton-under-Lyne.
• The market town of Ashton-under-Lyne forms part of Greater Manchester in the north west of England. The town is located approximately 6.5 miles(10.5 km) east of Manchester City Centre on the north bank of the River Tame, in the foothills of the Pennines. Huddersfield is situated approximately 20 miles north east, Sheffield is 30 miles (48 km) south east and Liverpool is 45 miles (72 km) to the west.
• Very strong tenant line up including McDonalds, Shoe Zone, Paddy Power and Tameside Council.

Tenancy

• Unit 37 let to Harington & Hallworth Ltd for 25 yrs FRI from December 2005 at passing rent of £82,000.
• Unit 39 let to Power Leisure Bookmakers Ltd for 15 yrs FRI from May 2014 at passing rent of £55,000. The 2019 rent review outstanding.
• Unit 41 let to Shoe Zone Retail Ltd for 5 yrs FRI from May 2017 at passing rent of £35,000.
• Unit 43 currently vacant Landlord rental guaranteed for 1 year from completion.
• Unit 45 let to The People’s Dispensary for Sick Animals for 5 yrs FRI from February 2019 at passing rent of £34,000.
• Unit 47 let to T-Mobile (UK) Ltd for 15 yrs FRI from February 2006 at passing rent of £60,000 (The tenant is not currently in occupation).
• Unit 49a let to McDonald’s Restaurant Ltd for 10 yrs FRI from September 2019 at passing rent of £39,500. They have occupied since 1984.  We understand that McDonald’s are to invest £1m into property refurbishment.  6 months rent penalty if break exercised.
• Unit 49 currently vacant Landlord rental guaranteed for 1 year from completion. Formerly let to Thomas Cook, ongoing negotiations with Hays Travel to acquire the unit.
• 1st floor of Unit 49 & 49A let to Lee Winters for 1 year from July 2019 at passing rent of £ 14,955. Tenant is holding over and is in discussions to take new 5 year lease at £16,000 p.a.
• 1, 2, 3 2nd floor Stamford Chambers let to Tameside Metropolitan Borough Council for 3 year from October 2016 at passing rent of £ 37,550. Currently with solicitors to be renewed (New lease for a term of 9 years with tenant break option in year 3 & 6).

Additional Notes

• The town has seen and continues to see significant investment upwards of £100 million.
• The property may be suitable for redevelopment of upper parts (subject to consents).