E339 Whalley Range, Manchester M16
Two substantial four storey buildings converted into two hundred and thirty student pods, as one Development
Each sold on 150 year leases from 1st January 2011
At a combined (rising) ground rent of £46,000 per annum paid in advance
Each rent doubling every fifteen years or 1/1000th of the Capital Value
WITH THE COMBINED GROUND RENT DOUBLING TO £92,000 IN NINE YEARS
With the covenanted provision that the ground rent will never exceed two thirds of the Rateable Value
The Landlord insures and manages recovering costs by way of Service Charge from the Lessees
The Lessees cannot alter their demise in any way without the written license of the Lessor
The Landlord retains ownership of everything above the ceilings, everything below the floors, the entire building envelope as well as all internal and external common parts and has the full and free right at any time to develop any part of the Property as they may think fit.
Section V Notices are not applicable to this Investment
Copy documents held (electronically in a Data Room): Executed Lease; OCE’s to each building
Guide Price: £740,000 – £875,000
