A retail building in Sale town centre with planning consent for apartments on the upper floors has been sold by commercial property company Ereira Mendoza.
Alexandra Fox North, headed up by directors Lisa Browne and Katie Small, have purchased the building, which features a 3,200 sq ft Tim Hortons coffee shop on the ground floor.
The building on the corner of School Road and Curzon Road, in the centre of Sale’s shopping precinct, also has planning consent to convert the upper two floors into apartments.
This includes two one-bed flats and two two-bed flats over 2,400 sq ft.
Tim Hortons moved into the building earlier this year and has a 10-year lease on the retail space, generating £40,000 in rent per year.
Regional Property Solutions acted for Alexandra Fox North, and RPS director Daniel Lee said: “This attractive period property provided an excellent investment opportunity particularly with the added benefit of consent already in place for residential conversion.
“Our client intends to create high specification apartments within this landmark period building.”
The building is the latest to be purchased in Sale town centre as a raft of proposed developments come forward.
Earlier this month, Trafford Council bought the vacant magistrates’ court on Washway Road to bring forward a residential-led project. The building is likely to be demolished to make way for new homes.
Developer Maloneview also submitted a planning application in late June to redevelop The Square shopping centre, which features 202 homes, 30,000 sq ft of retail and leisure, and a six-screen cinema.