Lot 91
    Retail Property (high street)
    10 Fountain Square & 6 Miles Bank
    Stoke-on-Trent, Staffordshire, ST1 1LG
    Sold for £172,000.
     
    Number 1
    A Mid Terrace Commercial Investment Let Producing £30,000 Per Annum Reflecting a 20% Yield on the Guide Price.

    Description

    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.

    Note

    VAT is Applicable

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

    EPC Rating

    C

    Addendum

    The property will be sold on a new 999 year lease and not as previously stated within the particulars.
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    Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

    Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

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