Summary
A three storey mid terraced part commercial, part residential property of brick elevations with pitched and flat roof coverings. The building is being sold as a part investment opportunity with the first and second floor flat being occupied and generating £450pcm. The ground
floor will be sold with vacant possession and comprises an open plan sales area, office, stores, kitchen and staff WC with access to the rear parking and storage unit/garage.
The first and second floor flat has its own separate entrance from the rear of the building and has lounge and kitchen on level one and two bedrooms and a family bathroom on level two. The current rent is less than the market average for a two bedroom in this condition in the town centre.
This property would suit an owner occupier looking for prime retail in the centre of town with the added bonus of a regular income from the flat above. Alternatively, the building would suit an investor. The property benefits from UPVC double glazing and independent gas central heating.
Key Points
Flat is currently occupied at £450pcm (below market rent)Parking for two vehicles at the rearTotal NIA: 1,399 sq ft plus 272 sq ft garage at rearEPC: TBC
Services
All main services are connected. No services have been tested by the agents. Each property is separately metered.
VAT
The sale price is not subject to VAT.
Tenure
Available freehold, subject to contract and with the benefit of the existing AST.
Business Rates
Rateable value £6,800
Rates payable £3,393.20 pa (25/26)
Note: If you qualify for Small Business Rates Relief you should be entitled to a 100% rates payable exemption.
Council Tax
The flat known as 34 Stubbs Street, Newcastle-under-Lyme, ST5 1AQ - Band A
Tenancy Details
The first and second floor flat is let to a private individual on a rolling 6 month AST. Copy of the lease available upon request.
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 prominently located with frontage onto High Street in the centre of Newcastle-under-Lyme. The property backs onto the Bus Station and is close to a number of public car parks.