28-30 Princess St | Knutsford WA16 6BU
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28-30 Princess St
Knutsford WA16 6BU
Retail Property For Sale
Investment Highlights
- Knutsford is an affluent Cheshire market town approximately 13 miles south west of Manchester City Centre
- A very affluent catchment with a 15-minute drive time population of 53,718 and 48.6% being in social grade AB
- Let on a FRI lease to Waitrose Limited until 12th April 2036 providing 11.80 years unexpired
- Excellent transport links being very close proximity to the M6 and access to fast train services to Manchester City Centre
- The property extends to a total GIA of 12,543 sq ft (1,165.3 sq m) and is arranged over ground and first floor
- Freehold
Executive Summary
The property is of brick construction under a pitched slate roof and part flat roof, originally configured as two retail units but comprehensively refurbished in 2011 to create a modern open plan ground floor food store with first floor storage and ancillary accommodation.
The property extends to a total GIA of 12,543 sq ft (1,165.3 sq m) including 7,004 sq ft of ground floor retail sales and 5,539 sq ft of first floor
ancillary accommodation. The property is broadly rectangular in shape and is fitted out in the standard Little Waitrose specification including a goods lift between ground and first floor.
The property is let in its entirety to Waitrose Limited on a FRI lease for 25-years from the 13th April 2011, expiring on the 12th April 2036 and
therefore providing 11.80 years unexpired. There is a tenant break option effective on 13th April 2026 by way of nine months written notice. The current passing rent is £179,212 per annum reflecting £14.29 per sq ft when including the first floor at half rate. There are 5 yearly fixed rent reviews with the next occurring on the 13th April 2026 where the rent will increase to £202,762 per annum.
The property extends to a total GIA of 12,543 sq ft (1,165.3 sq m) including 7,004 sq ft of ground floor retail sales and 5,539 sq ft of first floor
ancillary accommodation. The property is broadly rectangular in shape and is fitted out in the standard Little Waitrose specification including a goods lift between ground and first floor.
The property is let in its entirety to Waitrose Limited on a FRI lease for 25-years from the 13th April 2011, expiring on the 12th April 2036 and
therefore providing 11.80 years unexpired. There is a tenant break option effective on 13th April 2026 by way of nine months written notice. The current passing rent is £179,212 per annum reflecting £14.29 per sq ft when including the first floor at half rate. There are 5 yearly fixed rent reviews with the next occurring on the 13th April 2026 where the rent will increase to £202,762 per annum.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
12,543 SF
Building Class
B
Year Built/Renovated
1937/2011
Price
$4,325,914 CAD
Price Per SF
$345 CAD
Cap Rate
7%
NOI
$302,814 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
2.00
Lot Size
0.14 AC
Amenities
- Commuter Rail
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