A Mid Terrace Commercial Investment Let Producing £30,000 Per Annum Reflecting a 20% Yield on the Guide Price.

The property comprises a mid terrace commercial building arranged over ground and first floors.

Tenure

Virtual Freehold. The property will be sold on a new 999 year lease.

Location

The property occupies a prominent corner position with frontage to Miles Bank & Fountain Square. Hanley town centre is currently undergoing its first phase of redevelopment. This includes the resurfacing and pedestrianisation of the surrounding roads, with the second phase of the regeneration includes a £20m levelling up fund award for the provision of a comprehensive mixed-use development to the south of the property. The Potteries Shopping Centre is to the north of the property, The property forms part of the epicentre of the retail and leisure offering in the town and experiences high levels of footfall, local occupiers include Primark, KFC, Boots, and TK Maxx.

Accommodation

Ground Floor Shop Area First Floor Shop Area

Tenancy

The property is subject to an FRI lease for a term of five years commencing 25th March 2021 at a rent of £30,000 per annum. The tenants did not exercise their January 2024 break clause.

VAT is Applicable G.I.A. Approximately 330 sq m (Obtained from EPC)

Energy Efficiency Rating (EPC)

Current Rating C

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.