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2 & 2a Westwood Street, Leek, ST13 8DH

1,285 Sq Ft / Other / Investment

For Sale - £159,999.00

Under Offer - Last updated: 10 May 2024

GENERAL DESCRIPTION A prominently located and extended property briefly comprising a self-contained ground floor retail unit together with a separately accessed and self-contained four-bedroom flat with roof terrace. The retail unit is let to an individual who has been in occupation since December 2019 and currently operates a retro toy/collectables shop offering a range of niche products. The property is prominently located at the junction with Westwood Road and Grove Street and has extensive frontages to each road with access to the flat being off Grove Street. An internal staircase provides access to the entrance to the flat and a secluded roof terrace which provides an additional amenity. The flat is well presented throughout and deceptively spacious providing four bedrooms, a large kitchen, bathroom and is currently vacant.

Location

LOCATION Occupying a prominent location at the junction with Westwood Road and Grove Street the property is situated in an established and densely populated residential area approx. 500 yards from both the town centre and the A523.

Accommodation

ACCOMMODATION 

2 Westwood Road (shop) 
Sales area: 990 sq ft 
Office: 94 sq ft 
Kitchen: 202 sq ft 
WC --
Total N/A 1,286 sq ft
 
2a Westwood Road (flat)
 
First Floor: Kitchen: 12’0’’ x 13’ 9’’
Livingroom: 19’0’’ x 10’0’’
Bathroom: 6’0’’ x 6’0’’
Bedroom 1: 12’9’’x 11’9’’
Bedroom 2: 9’0 x 8’ 3’’
Bedroom 3: 12’9’’x 9’3’’
Bedroom 4: 9’0’’ x 8’0’’
Roof terrace: 12’0’’ x 25’0’’

Terms

SERVICES 

All mains services are connected. No services have been tested by the agents. All of the equipment within the property is included in the sale. The agents have not tested any of the equipment. 
 
VAT 
The sale price is not subject to VAT TENURE Available freehold, subject to contract and with the benefit of the ground floor commercial lease and with vacant possession of the flat.
 
BUSINESS RATES/COUNCIL TAX 2 Westwood Road Rateable Value: £8,800 
The tenant is responsible for all business rate liabilities. 
 
2A Westwood Road Council Tax Band B Payable: £1,677.24 pa (24/25)
 
EPCs 
2 Westwood Road: 70 (Band C) 2A Westwood Road: 52 (Band E) 
 
TENANCY DETAILS 
The ground floor shop is let to an individual by way of a 1 year lease from 20th December 2019. The original rent of £7,000 pa continues to be paid. There is therefore the opportunity to negotiate a new tenancy with the tenant and potentially agree a higher rent. A copy of the ease can be made available upon request. The flat is vacant. The agents estimate that it should let for £700 pcm. On the above basis the property, fully et should produce an income of no less than £15,400 pa which equates to a gross return on investment of 9.6 %. 
 
ANTI MONEY LAUNDERING REGULATIONS 
In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the responsibility of the applicant. Where appropriate we will also need to see proof of funds. 

Specification

Part let mixed use investment opportunity 

• Self contained retail unit extending to 1,285sq ft 
• Separately accessed and spacious 4 bed flat above
• Asset management opportunities to increase rental income 
• Prominent location in established residential area close to town centre 

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £159,999.00 NA

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Agency Team

Rory Mack Associates Ltd

01782 365492



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