Summary
33 and 33a High Street is a three storey property of brick elevations and tiled pitched roof coverings in a prominent position on the High Street. The property has been divided into two retail units on the ground floor and two large apartments covering the first and second floors above.
The ground floor is arranged as two individual commercial units with separate entrances and rear exits onto the car park. 33 High Street is The Bakehouse whose lease runs from May 2023 with over 15 years history in this location. 33a High Street is Moorlands Beauty with a lease from October 2022. Both commercial units have single glazed timber window frames and access to the parking at the rear. The upper floors consist of two spacious and well-appointed two bedroom apartments, both of which are self-contained and separately accessed and are let by way of Shorthold Tenancy Agreements. The property has been very well maintained, is fully compliant and has independent gas boilers to the apartments. Please note, the cottage at the rear of the building is not included in the sale.
Key Points
- Fully let mixed use investment opportunity producing £27,600 pa
- The Bakehouse and Moorlands Beauty are the ground floor commercial tenants
- Upper floors laid out as a two 2 bedroom apartments
- Total NIA: 1,975 sq ft
- Car park for 6 vehicles included at the rear of the property
Services
All main services are connected. No services have been tested by the agents. All commercial and residential elements have their own separate meters and boilers.
VAT
The sale price is not subject to VAT.
Tenure
Available freehold, subject to contract and with the benefit of the existing IRI leases and AST agreements.
Business Rates
The tenant are responsible for payment of any business rates liability where applicable.
Council Tax
The residential tenants are responsible for payment of any council tax where applicable.
Tenancy Details
33 High Street is let to a private individual T/A The Village Bakehouse, at £6,000 pa for 5 years from 28/03/26. 33a High Street is let to a private individual T/A Moorlands Beauty, at £6,000 pa for 5 years from 01/09/2022. Flat 1 (2 bed) is let to a private individual at £XXXcm. Flat 2 (2 bed) is let to a private individual at £XXXcm. Combined income for the property at present is £27,XXXa with potential for higher future rent with rent reviews and/or new tenants.
Accommodation
Ground Floor Retail Unit 1 (The Bakehouse):
Sales/till area: 297 sq ft
Kitchen: 55 sq ft
WC --
Total NIA: 352 sq ft
Ground floor Retail Unit 2 (Moorlands Beauty)
Sales/treatment rooms: 354 sq ft
Kitchen: 38 sq ft
WC: --
Total NIA: 392 sq ft
Flat One Living Accommodation:
Over two floors including: lounge, kitchen, 2 x bedrooms and bathroom.
Total GIA: 594 sq ft
Flat Two Living Accommodation:
Over two floors including: lounge, kitchen, 2 x bedrooms and bathroom.
Total GIA: 637 sq ft
Overall NIA: 1,975 sq ft
(not including common areas, WCs to commercial and landing areas)
The flats are accessed via a communal rear porch with stairs leading to the first-floor landing where both flats have their entrance doors.
EPC
Flat One: Band D (60)
Flat Two: Band D (61)
33 High Street: Band B (43)
33a High Street: Band C (64)
Location
The property features prominently opposite the junction where Hall Road meets High Street (A522) in the village centre. Upper Tean is easily accessible, being 3 miles off the A50. Cheadle is the nearest town approximately 4 miles to the north. Tean as a village has a convenience store, pharmacy, cafes, pubs, hairdressers, petrol station and a primary school.