Summary
A mid-terraced building of brick elevations and rendered covering with pitched tiled roof coverings, offered to the market as a part-let income producing investment. The ground floor offers 1,141 sq ft of usable space plus WC and is in good clean condition. Both flats have their own
separate entrances off the High Street and all three areas are separately metered.
Key Points
Three storey building with ground floor shop and two flats above5 year lease from October 2025 producing £8,400paFirst floor flat producing £2,640 pa, (should be £5,100 pa)Second floor flat vacant – (should achieve £5,100 pa)Total Potential income: £18,600 (14% gross ROI)
Tenancy Details
The ground floor is let to a private individual, T/A Vani Mini Market at £8,400pa on an IRI lease from 16th October 2025 for 5 years with no break clause. Copy of the lease available upon request.
The first floor is let to a private individual at £2,640 pa on a rolling month by month AST from 16th January 2025. Copy of the AST is available upon request. There is the opportunity to serve notice on this tenant requesting that the rent should increase to £425 pcm.
The second floor flat is also expected to achieve £425 pcm.
On the above basis the overall income for the building would be £18,600 providing a 14% gross return on an investment of £135,000.
VAT
The sale price is not subject to VAT.
Tenure
Available freehold, subject to contract and with the benefit of the existing IRI and AST leases.
Business Rates
Rateable Value: £5,500
The tenant is responsible for payment of any business rate liability where applicable.
Council Tax
First floor flat, 106a High Street – Band A
Second floor flat, 106b High Street – Band A
Services
Mains water, drainage and electricity are connected. Heating is provided by a electric wall heaters throughout. Each part is individually metered No services have been tested by the agents.
EPC
106 High Street – TBC
106a High Street – TBC
106b High Street – Band C (69
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.
Location
The property is located on the High Street, close to Tower Square and backing on to Jasper Square Retail Park. Tunstall is easily accessible from the A500 and lies just under 7 miles from junction 16 of the M6 motorway.