Retail Premises In Prominent Location, 2 Commerce Street, Longton, Stoke on Trent, ST3 1NH

The property comprises a very prominently located three-storey retail premises with an attractive sandstone elevation fronting Commerce Street. Internally arranged in open plan with high ceilings there is also the added benefit of a basement sales area. The property is occupied by Dougie Mac, until 31st March 2024. The tenant’s demise includes all of the building with the exception of the second floor, (currently retained by the landlord for storage purposes and to be vacated upon completion), which could subsequently be offered to the tenant for an additional rent.

Through various grant initiatives in recent years the exterior of the property has been extensively refurbished and restored to its former glory, preserving its imposing aspect and although currently used for retail purposes the property would suit a number of alternative uses to include: offices and hot food takeaway, subject to planning where necessary.

Location

The property benefits from a town-centre location with main road frontage to Commerce Street (A5007) and faces town-bound traffic travelling along Uttoxeter Road, in a mixed-use area where a range of retail, office and food orientated businesses are located. There is on-street car parking fronting the property and a public car park to the rear and access to the A50 dual carriage way in both a north and south bound direction is within a ¼ of a mile.

Accommodation

Ground Floor

Sales Area - 655 sq ft

Stores - 125 sq ft

Kitchen - 53 sq ft

Office - 73 sq ft

WC

Basement

Sales - 601 sq ft

First Floor

Sales - 810 sq ft

Second Floor

Storage - 684 sq ft

TOTAL NIA - 3,001 sq ft 

Terms

PRICE - £75,000

BUSINESS RATES:

Rateable Value: £7,100

VAT - The sale price is not subject to VAT.

LEASE DETAILS - The property is let to Douglas MacMillan Hospice Staffordshire Enterprises Ltd (Reg No: 02921325) by way of a 10 year Internal Repairing and Insuring lease which expires on the 31st March 2024. The passing rent is £5,250 pa. The rent review effective 1st April 2019 has not been actioned and remains outstanding providing scope for an immediate rental increase. A copy of the lease can be made available to interested parties upon request. TENURE Available freehold, subject to contract and the existing lease and with vacant possession of the second floor.

Specification

• Prominent Retail premises with upper floors and basement sales area
• Total NIA: 3,001 sq ft with 655 sq ft of ground floor sales
• Let to Douglas MacMillan Hospice Staffs’ Enterprises Ltd until 31st March 2024
• Passing rent: £5,250 pax with April 2019 rent review outstanding
• EPC: TBA