£2,500,000
Lindencourt House, 34 Charlotte Street, Manchester City Centre, M1 4FD
Detached houseNorth West
Nestled at the intersection of Charlotte and Faulkner Streets in Manchester City Centre, this property presents a compelling opportunity for renovation and investment. Located just a stone's throw from Piccadilly Gardens, residents benefit from immediate access to various transport options, including the Metrolink and local bus services. Piccadilly Train Station is conveniently located less than half a mile to the east, enhancing connectivity for both residents and future tenants alike.
The building itself is a Grade II listed, five-storey mid-terraced structure with classic brickwork, highlighting its historical significance within the urban landscape. The property features a basement level, ground floor, and four additional upper floors. Currently, portions of the ground floor and all upper levels are available in shell condition, presenting a blank canvas for redevelopment.
On the operational side, a well-established Japanese restaurant, YUZU, occupies part of the ground floor with a renewed 10-year lease generating an annual rent of £20,425. Additionally, the basement space is leased to Vina Karaoke on a 14-year agreement that commenced in September 2023 for £38,500 per year. This brings the total passing rent to £58,925 annually.
The property's redevelopment potential is significant; part of the ground floor and all upper levels are ripe for conversion into various uses such as residential apartments, offices, co-working spaces, educational facilities, or even hospitality ventures like hotels or serviced apartments—subject to obtaining necessary planning permissions. Notably, there is current planning consent for character offices granted in March 2024 (Planning Ref: 136926/LO/2023), providing an immediate pathway for development.
Previously approved plans for converting the property into 12 self-contained apartments were secured in 2016 but have since lapsed (Planning Ref: 110785/FO/2015/C2). With its prime location and flexible redevelopment options, this property stands out as an opportunity for investors looking to tap into Manchester's vibrant urban market.