Apple Building among JLL catalogue
Jones Lang LaSalle's next commercial property auction, on Thursday 3 May in London, includes eight investment opportunities in Greater Manchester.
The Manchester buildings are:
- Apple Building, 270 Oldham Road, Manchester. A long leasehold residential investment comprising 53 flats designated as key worker housing, all let on assured shorthold tenancies close to the city centre. Currently producing £327,240 a year. Guide price £3.15m
- Lakeside Villas & Apartments, Blackley, Manchester. A long leasehold residential investment comprising nine flats and 23 townhouses and villas providing asset management opportunities. Currently producing £219,480/year. Guide price £1.6m
- 5 & 7 Merseyway, Stockport. A freehold town centre retail investment with profitable chain store tenants with 12 years and 7.5 years unexpired remaining on their leases. Currently producing £190,000 a year. Guide price £1.55m
- 2 Great Underbank, Stockport. A modern freehold bank investment within pedestrianised town centre let to Lloyds TSB Bank with seven years unexpired. Currently producing £90,000/year. Guide price £1.2m
- Balmoral House & Sandringham House, Salford. A long leasehold office investment providing two buildings offering asset management opportunities. Tenants include Salford Primary Care Trust. Current rents total £229,000/year. Guide price £1.25m
- Windsor Court, Salford. A long leasehold office investment with asset management & possible development opportunities subject to planning permission & consents. Producing £26,528/year plus vacant offices. Guide price £450,000
- Lombard House, Cheadle. Freehold office investment let to Countrywide Estate Agents. Currently producing £80,778 a year. Guide price £500,000
- 703 Manchester Road, Bury. Freehold restaurant investment let to Est Est Est Restaurants until 2022. Currently producing £48,750/year. Guide price £475,000
Felix Rigg, director and principal auctioneer at Jones Lang LaSalle, said: "Generally, 2012 has begun more positively than 2011 ended but there are still plenty of opportunities in the market for a canny investor to achieve good value for money. Many of the lots being offered offer asset management opportunities for an investor looking to maximise returns."
For full property particulars and to view the auction catalogue please visit www.joneslanglasalle.com/property-auctions