3 x Car Parking Spaces at Hill Quays, Deansgate.
Guide Price: £95,000.
Size – 12 sq m

Key Features:

• Ideal passive investment opportunity.
• High yielding, city centre investment.
• Alternatively well-suited for owner-occupation.
• Simple & easy acquisition process.
• The building benefits from an EWS1 form after a recent £7,000,000 programme of remedial works.
• Underground, secure car parking space.
• 24 hours access via a key fob.

Description:

The car parking spaces are located beneath the Hill Quays Apartment complex, situated in Deansgate.

The car parking spaces themselves are located on the lower-ground floor, benefiting from a high ceiling height and no pillar obstruction.

The spaces are suitable for large vehicles, such as Range Rovers and other SUVs.

The spaces are currently let at £600 per month (£7,200 per annum). This is equally divided between the spaces (£200 per month each). There are other spaces within the complex currently let at a higher rental figure.

There is a fantastic target market for rent, with a number of residential apartments blocks being constructed within the local area, while there is also an abundance of commercial offices within the area which do not benefit from sufficient car parking. As stated within the key features, the spaces are also ideal for someone who lives within the area and wishes to own a space park their vehicle (owner-occupation).

The advertised price represents an attractive gross yield of better than 7.5%.

Tenure: Leasehold - The terms is 150 years from 23rd August 2002.

The car parking spaces are each liable for:
• Service Charge: £90 per annum.
• Ground Rent: £100 per annum.