Ford, 35 Garratt Way, Gorton, Manchester, M18 7AAMake an enquiry
Acquisition on behalf of a private investor, a roadside MOT & autocentre investment in the south east Manchester suburb of Gorton. The site fronts onto the A57 and lies between Tesco and Aldi. Other nearby roadside operators include Texaco & KFC.
The property is newly refurbished for the tenant and lies on a prominent road side site of 0.3 acres. The building itself extends to 3,530 sqft and there are 13 on site parking spaces.
The site is held on a long leasehold on a 125 year term from December 1993. The property is let to Ford Retail Group Ltd on a new 10 year lease from November 2020. There are five yearly reviews on the basis of RPI annual compounded increases with collar/cap of 2%-4%. The initial rent is £60,000 per annum.
The building was acquired for £850,000 reflecting a yield of 6.69%.
MK2 acted for the vendor.
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