GENERAL DESCRIPTION
A prominently located mid terrace investment property briefly comprising a self-contained ground floor shop above which are two separately accessed and self contained one-bedroom apartments. The property was extensively refurbished and converted approximately 15 years ago and has proved popular with both commercial and residential tenants ever since, due to the presentation of the internal accommodation. Both flats have fitted kitchens and are accessed via a communal front door off Liverpool Road. The first floor flat has the added benefit of a secluded roof terrace which provides private external amenity space. The property is offered on a fully let basis with tenants having recently entered into new agreements and is fully compliant with all current legislation and benefits from above average EPC assessments.
Location
LOCATION
The property is prominently located on Liverpool Road and forms part of an established terrace of similar mixed-use properties forming part of the town centre of Stoke and is close to a number of public car parks
Accommodation
ACCOMMODATION
Ground Floor Sales Area: 723 sq ft
Kitchen: 109 sq ft
WC: -
Basement Storage: 456 sq ft
First Floor (7a)
Entrance hall: -
Living room/Kit: 21’6” x 10’9”
Bathroom: 6’9” x 10’0”
Bedroom: 9’0” x 18’6”
Roof Terrace: 24’0” x 18’6”
Second Floor (7b)
Entrance Hall: -
Living room: 10’3” x 14’3”
Kitchen: 14’3” x 6’3”
Bedroom: 12’6” x 10’0”
Bathroom: 10’0” x 6’0”
Terms
SERVICES
All main services are connected to the building and each individual part is separately metered. The flats benefit from gas fired central heating and there is also an intercom entry system installed. There is a gas supply to the shop however this is capped, and heating is by means of electric wall mounted heaters. No services have been tested by the agents.
VAT
The sale price is not subject to VAT.
TENURE
The property is available freehold, subject to contract and with the benefit of the existing leases in place at date of completion.
BUSINESS RATES
The shop has a Rateable Value of £4,150 The flats have a Council Tax Band A assessment. The rates and council tax payable is the responsibility of the tenants
EPCs
Shop: 82 (Band D)
7a: 76 (Band C)
7b: 79 (Band C)
COUNCIL TAX
Band A
TENANCY DETAILS
The ground floor shop is let to an individual by way of an internal repairing and insuring commercial lease for a term of five years commencing 17th December 2024.
During the lease there are incremental annual rent rises as
follows:
Year 1: £7020 pa Year 2: £7,500 pa Year 3: £7,980 pa Year 4: £8,460 pa Year 5: £8,940 pa
The first floor flat is let by way of a Shorthold Tenancy Agreement for a 12 month period from the January 2025 at a rent of £550 pcm.
The second floor flat is let by way of a Shorthold Tenancy Agreement for a 12 month period from the January 2025 at a rent of £500 pcm.
AUCTION DETAILS
Auction starts 9am, Thursday 30th January 2025 with
‘SDL Property Auctions’.
https://www.sdlauctions.co.uk/property/45780/mixed-use-for-auction-stoke-on-trent/
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
Fully let town centre investment opportunity
• Comprises retail unit together with two self-contained flats.
• Forming part of an established parade of shops with main road frontage.
• Recently entered into leases and producing £19,500 pa
• Fully modernised property offering low management input
* Auction Event, SDL Auctions, Thursday 21st November 2024 at 9am