Victoria Mill

Victoria Mill is a great example of having to be adaptable to rapidly changing circumstances. We had a clear business plan in mind when we acquired the property, but nevertheless Covid-19 required us to react quickly and flexibly to ensure we delivered the right outcome.

Chris Bullough ACA, Seneca Property & Biz Hub MD

Fully-let investment

Commercial

£3million

North of England

Property address: Victoria Mill, 8 Windmill St, Macclesfield, SK11 7HQ
Size: 28,000 sq ft
Tenant: 100% let to Ashfield Healthcare, part of the UDP Healthcare PLC
Annual Rental Income: £310,000
Purchase price: £2.6m
Agreed Sales Price: £3.5m
Gross Profit: £900,000

Victoria Mill

Victoria Mill is a 28,000 square foot office building which was acquired in 2019 for £2.6m. The property is well-located in central Macclesfield, Cheshire with good car parking and access to nearby rail links.

The tenant has been in occupation for c.20 years and our research identified that this was key strategic location for them with limited available competition.

Despite the onset of Covid just 12 months into our ownership, we were able to restructure the lease with the existing tenant to add a further 9 years to their term.

In 2021, after two years of ownership we were able to sell the property for £3.5m, with investors having also enjoyed the benefit of the rental income during the hold period.

Victoria Mill

Victoria Mill

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