Summary
A prominent property of brick elevations with tiled pitched roof forming part of a secondary mixed use retail and residential area on the edge of Newcastle-under-Lyme town centre. The building is being sold with vacant possession and would suit owner occupiers and investors
alike. The ground floor is currently trading as a ladies beauty salon and comprises two large open plan sales/salon areas with a bar, (as the premises is currently licensed to sell alcohol on site), plus treatment room, office, kitchen and bathroom. The first-floor apartment is accessed from the rear internally but could easily become self-contained and comprises an open plan lounge and dining area, fitted kitchen, three bedrooms and family bathroom. The building benefits from gas powered central heating throughout, karndene flooring and spotlights in the salon.
The agents estimate that fully let at market rent the building should provide the owner with a gross yield of circa 10% based on the asking price.
Please note: the commercial element will have some of the fixtures and fittings removed by the current tenant but will be left in an acceptable, clean and tidy manner.
Key Points
Owner/occupier opportunity to live above place of workMain road frontage and very prominent locationTotal NIA: 1,744 sq ftEPC: Commercial – Band C (70), Residential – Band D (62)
Services
All main services are connected. No services have been tested by the agents. The ground and first floor are separately metered.
VAT
The sale price is not subject to VAT.
Tenure
Available freehold, subject to contract and with vacant possession upon completion.
Council Tax
70 George Street, Newcastle-under-Lyme – Band A
Business Rates
Rateable value £11,750
Rates payable £5,863.25 pa (25/26)
Note: If you qualify for Small Business Rates Relief you should be entitled to a 100% rates payable exemption.
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 pavement fronted and occupies a prominent location on George Street, (A52) around half a mile from the town centre of Newcastle-under-Lyme. The building is within walking distance of the A53, A500 and A34 whilst being 3 miles from junction 15 of the M6 motorway.