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Retail investment opportunity for sale in Alderley Edge

The Parade, Alderley Edge, Cheshire, SK9 7JX
For sale
£7,010,000 Offers In Excess Of
colliers
This property is marketed by:
Colliers

Key features

  • Located in Alderley Edge, an affluent town in East Cheshire, with very little foodstore competition in the ten minute drivetime.
  • The property is situated on the western side of London Road, the towns main retail pitch. Its situation is at the northern end of London Road, close to the train station, which is 200 metres from the property.
  • Alderley Edge is 12 miles south of Manchester, the UK’s second largest urban agglomeration, and 7 miles southeast of Manchester Airport.
  • A 15,086 sq ft (1,401 sq m) foodstore with 65 demised car parking spaces, providing a good ratio of 1:232 sq ft (Waitrose have a separate lease on the car park).
  • 100% of the income is secured against Waitrose Limited, expiring April 2029 – thereby producing an unexpired term of just under 6 years.
  • Significant development potential.
  • Let to the strong covenant of Waitrose Limited.
  • The leases on both the store and the car park are subject to fixed uplifts at review every five years, providing an attractive income profile and guaranteed rental growth from a passing combined rent of £429,733.79 (£28.49 psf) to a rent of £498,226.09 (£33.03 psf) from 1st May 2024.
  • Waitrose has an option to renew for 15 years at lease expiry, at open market rent.
  • Freehold.

Location

Alderley Edge is an affluent town in East Cheshire, situated 6 miles (10 km) northwest of Macclesfield and 12 miles (19 km) south of Manchester. Located in Cheshire’s ‘Golden Triangle’, an affluent cluster of towns in Cheshire that are known for their affluent demographic profile and exclusive homes, popular with Premier League footballers. It has an upmarket and vibrant high street with winding country lanes and expensive residential streets leading off from the central conservation area. Alderley Edge is positioned with convenient communication links.