4 Naval Street

Ancoats, Manchester, M4 6EW

4,674 sq ft

Substantial character workspace over 3 floors with potential for future development

Summary

Largely open plan office space to 3 floors
Attractively presented throughout
ERV of £116,850
Currently 2/3 floors let
Prime Ancoats location
Features include exposed red brick finish, beams and vaulted ceiling to the top floor

Accommodation

The accommodation comprises the following areas:

Floor/Unit	Description	sq ft	sq m	Availability
Ground	Office suite	1,457	135.36	Occupied
1st	Office suite	1,519	141.12	Available
2nd	Office suite	1,698	157.75	Occupied
Total		4,674	434.23

Location

Located in the heart of the Ancoats neighbourhood of Manchester, Manchester's historical industrial heartland. It is situated at the junction where Naval Street meets Radium Street and is just a short walk from the New Islington Marina. Ancoats continues to see significant investment in new developments and has transformed in recent years into a trendy residential location with a vibrant restaurant and bar scene. The site is adjacent to the upcoming Phoenix Ironworks development, which is transforming the surrounding industrial land into new residential and creative workshop spaces.

It is approximately a 5-minute walk to Piccadilly Gardens and the Northern Quarter, and a 10 minute walk to Piccadilly Station and the Arndale Centre. It sits directly opposite the New Islington Metrolink stop and is a 1 minute walk from the popular Cutting Room Square, which provides an abundance of independent and national operators including 'Rudy's Neopolitan Pizza', 'Seven Brothers' craft beer bar and 'Mana' Michelin Star restaurant.

Get directions from Google Maps

Mainline Stations

Manchester Piccadilly

11 mins
Manchester Victoria

13 mins
Manchester Oxford Road

20 mins
Ardwick

21 mins

Underground Station

Chesham

2712 mins
Amersham

2751 mins
Chalfont and Latimer

2776 mins
Chorleywood

2809 mins

Further Information

Price £1,950,000

Rates Payable Upon Enquiry

Service Charge An annual service charge is levied to cover maintenance, management and upkeep of the building and common areas. Further details can be provided on request.

EPC Rating This property has been graded as E (120)

Description

The property originally formed part of the old naval yard dating back to the 19th Century. This former red brick warehouse has been sympathetically restored to provide bespoke and characterful open plan office space over 3 floors, featuring high ceilings, excellent natural light and exposed brick and beam finishes.

The property is currently 2/3 let and is offered as a TOGC investment. However, there is significant scope for future development of the site in line with many of the neighbouring properties.

Tenure

The property is held by way of a 999 year lease from 2nd July 2014 under title number MAN230294.

Tenancy

The ground floor is presently let out to Jacksonheim Concierge Limited on a 5 year lease to 26th November 2027, while the top floor is presently occupied by Northern Lights Gaming Ltd with agreement reached over a new contract at a rent of £25psf. The first floor space is currently being offered at £40,000pa (£26.33psf).

Sale

We are instructed to invite offers in the region of £1.95 million.

A purchase at this level would reflect a reversionary yield of 6% against the current ERV of £116,850.

VAT

The property is elected for VAT, but should qualify as being outside of the scope for VAT as a TOGC.

Service Charge

An annual service charge is levied to cover maintenance, management and upkeep of the building and common areas. Further details can be provided on request.