A freehold retail investment with consent for residential conversion on the upper floors at 70 School Road, Sale, Greater Manchester has been acquired by Alexandra Fox North for £790,000 from commercial property company Ereira Mendoza.
The property at the junction of School Road and Curzon Road provides retail space of 3,157 sq ft which is let to Tim Hortons, Cake and Bake Shop, on a 10 year lease at a rent of £40,000 per annum.
The first and second floors comprising at total of 2,398 sq ft have planning permission for conversion into two, one bedroom and two, two bedroom apartments. The property has private parking to the rear.
Daniel Lee, director, Regional Property Solutions who acted for the purchaser, said: “This attractive period property provided an excellent investment opportunity particularly with the added benefit of consent already in place for residential conversion. Our client intends to create high specification apartments within this landmark period building.”