Summary - 391B, PALATINE ROAD M22 4FY
1 bed 1 bath Retail Property (high street)
Fully let high-street retail with secure income and strong roadside visibility.
Prime street-frontage onto Palatine Road with high visibility and pedestrian trade
Fully let to Age Concern plus two local tenants; immediate income stream
Total passing rent £49,000 pa (£19.78 per sq ft)
Average WAULT 3.8 years — moderate lease length and reversion risk
Long leasehold: 250 years at a peppercorn (peppercorn ground rent)
Net initial yield quoted at 7.52% on guide price £620,000
Property elected for VAT; sale likely handled as a TOGC
Broadband speeds very slow; local area classed as hampered aspiration
A purpose-built high-street investment positioned on Palatine Road, Northenden, with strong roadside visibility and regular pedestrian trade. The ground floor comprises three fully let retail units (391, 391A & 391B) producing a combined passing rent of £49,000 pa and a quoted net initial yield of 7.52% on the guide price of £620,000.
The tenancy mix includes Age Concern and two local operators, with an average WAULT of 3.8 years, providing immediate income and straightforward management. The long leasehold (250 years at a peppercorn) offers tenure security for the lot; the property is elected for VAT and sale is anticipated as a TOGC. A fully recoverable service charge covers external estate items.
Investors should note practical considerations: broadband speeds in the area are very slow and the local area classification is described as “hampered aspiration,” which may constrain rental growth or re-letting prospects. The WAULT is middling rather than long, so income reversion risk exists as leases approach expiry. Full legal and tenancy documentation is available on request, and individual lot sales may be considered.
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