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Mere House, Knutsford

Brook Street, Knutsford, Cheshire, WA16 8GP

Summary

• LOCATION
  KNUTSFORD, CHESHIRE
• SECTOR
  OFFICE
• SIZE
  14,649 SQ FT
• TENURE
  FREEHOLD
• PASSING RENT
  £237,000 PER ANNUM
• PASSING RENT
  £16.20 PER SQ FT
• PRIME RENT
  £22.00 PER SQ FT
• TERM TO EXPIRY
  7.3 YEARS
• TERM TO BREAK
  2.3 YEARS
• ASSET MANAGEMENT
  LEASE RESTRUCTURE
• PRICE
  £2,475,000
• NIY
  9.00%
• CAPITAL VALUE
  £169 PER SQ FT
• DEVELOPMENT
  RESIDENTIAL POTENTIAL

More Information

• LOCATION

  Knutsford is an affluent Cheshire town located 14 miles south west of Manchester. The town is situated in the Golden Triangle, an area of affluent towns and villages including Hale and Prestbury. Knutsford has excellent transport links with access to the M6 and M56, as well as train services with links to Manchester and Chester. Mere House is situated only 500 metres from Knutsford Station and the town centre.

• TENANCY

  Let to Prime Medica Limited with an unexpired term of 7.3 years to expiry and 2.3 years to break. The passing rent is £237,000 per annum, reflecting a low rent of £16.20 per sq ft. The rent is subject to four yearly rent reviews. The next rent review is 10 August 2025. There are two subleases in place on the ground floor.

• ASSET MANAGEMENT

  Potential exists to rightsize the tenant into a single floor and release space for potential owner occupation, re-letting or change of use. The underlying low current rent compared to prime rents enables a purchaser to improve the running yield.

• DEVELOPMENT

  Mere House offers future residential potential, subject to the necessary consents, for conversion and massing of the existing building or a comprehensive redevelopment, suitable to a range of uses.

ADS RE Ltd (ADS RE) on its own behalf and on behalf of the vendors / lessors of the properties whose agent ADS RE is, gives notice that:1 (a) All particulars provided are given as a general outline only for the guidance of the intending purchaser, lessee or tenant, and do not constitute in whole or in part, an offer of contract for sale or lease; (b) Whilst all particulars of properties given including but not limited to descriptions, dimensions, references to condition and necessary permissions for use and occupation and maps are believed to be correct and are given in good faith, they are however given without responsibility. None of the statements contained in these particulars as to the property are to be relied upon as statements or representations of fact; (c) The vendor / lessor does not make or give, and neither ADS RE nor any of its members or any person in its employment has any authority to make or give any representation or warranty whatsoever in relation to any properties. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor / lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor / lessor and a purchaser or tenant. 2 Prospective purchasers / lessees or tenants should not rely on any particulars provided and are strongly advised to; (a) Satisfy themselves by inspection or otherwise as to the correctness of each statement contained in these particulars; (b) Inspect the property and the neighbouring area; ensure that any items expressed to be included are available and in working order; (c) Arrange a full measured, structural (and where appropriate environmental) survey of the property; and (d) Carry out all necessary searches and enquiries. November 2024