Commercial properties for sale in Merrick Street, ST1
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Income producing investment property fully let at £51,000 per annum exclusive.
Guide Price: £685,000 FREEHOLD SUBJECT TO CONTRACT
Newcastle Under Lyme is a market town in North Staffordshire situated 40 miles south of Manchester and 40 miles north-west of Birmingham and directly adjoins Stoke-on-Trent. The town has a population of over 75,000 and has become a very popular choice for students to study, due to Keele University. This University was founded in 1949 and is the UK’s largest campus University combining research facilities and science park.
Newcastle Under Lyme is a mixture of a vibrant centre with young people enjoying the bars and cafés, and an ancient market town famous for not being Stoke on Trent. It has a market 6 days a week and the famous amusement park, Alton Towers is not far away.
The property is well located on the South side of the pedestrianised Ironmarket in the heart of the town centre in Newcastle Under Lyme. Ironmarket is just off the A52 which links Newcastle Under Lyme and Stoke on Trent and is close to the M6 motorway. Nearby occupiers include Coral, HSBC, New Look, Wilkinson, Scotts, BetFred, Café Nero and Halifax and the Yates Public House amongst many others.
The premises are arranged as ground, first and second floors with two tenants, Loungers Ltd (Company No: 04595806) on the ground and part first floor benefitting from rear courtyard/outside seating area, paying a passing rent of £40,000 per annum, with the first floor and second floor offices let to Meridian Business Support Ltd (Company No: 02386774) paying a rent of £11,000 per annum.
TENANCY Loungers Ltd in relation to ground and part first floor, 57 – 58 Ironmarket, Newcastle Under Lyme – the Lease is for a straight 15 years on effective full repairing and insuring Lease terms with no breaks, commencing 26th October 2015, expiring 25th October 2030, paying an annual passing rent of £40,000 exclusive, quarterly in advance with rent reviews, upwards only, every fifth anniversary of the term to market rent.
Meridian Business Support Ltd relating to the first and second floor office premises at 56 and 58 Ironmarket, Newcastle Under Lyme have been tenants of the building since 2010 – the current Lease dated 21st October 2014 is for a term of 5 years from 31st October 2014, expiring 30th October 2019, paying an annual rent of £11,000 per annum. The tenants break option on 31st October 2017 was not activated.
GUIDE PRICE We are instructed to seek offers in excess of £650,000 (six hundred and fifty five thousand pounds) freehold subject to contract and both commercial leases producing a combined rental income of £51,000 pax. A purchase at this level would reflect a gross initial yield of 7.85% and a Net Initial Yield of 7.56% after purchase costs at 3.8%.
Loungers Ltd for the year ending 27th April 2017 Loungers recorded an increase in revenue from £68.5m to £91.8m and pre-tax profits of £3,186,658.
Meridian Business Support Ltd incorporated 19th May 1989. For the year ending 31st December 2016 Meridian Business Support reported a turnover of £98,687,640 and profit before tax for the year of £807,633.
VIEWING For further information please contact sole agents Messrs Nicholas Percival, for the attention of T Noble – 01206 563222
ADDRESS: Unit A & B Liverpool Road/Enderley Street, Newcastle-under-Lyme, Staffordshire ST5 2LE • Two Units let to Jewson Ltd and H&H (Retail) Ltd on renewed 10 year leases until 2024 (subject to options) • Tenants in occupation for over 25 years • Busy main road location • Nearby occupiers include Sainsbury’s, National Tyres and Autocare • Approximate site area of 1.19 acres • On-site car parking for approximately 75 cars LOCATION Miles: 3 miles west of Stoke-on-Trent 42 miles south of Manchester 44 miles north of Birmingham Roads: A525, A34, M6 (Junction 15 & 16) Rail: Stoke-on-Trent Railway Station Air: Manchester International Airport SITUATION The property is situated in a prominent corner position at the junction of Enderley Street and Liverpool Road in an established trade counter location which is 200 yards north of the town centre ring road, on the busy A34 dual carriageway. The property also benefits from excellent access to the M6 motorway (Junctions 15 and 16). DESCRIPTION: The property comprises a modern trade counter warehouse divided into two units, with car parking for approximately 75 cars. The property also benefits from a rear servicing yard and an approximate site area of 0.167 hectares (0.41 acres) ACCOMMODATION & TENANCY Unit A: Let to JEWSON LTD t/a Graham Plumbing Supplies for 10 years from 12/12/2014 at current rent of . £50,000 p.a The leases provide an option to determine on the fifth anniversary of the term Unit B: Let to H&H (RETAIL) LTD t/a Alan Ward Furniture for 10 years from 12/12/2014 at a current rent of £40,000 p.a. The leases provide an option to determine on the fifth anniversary of the term Unit A: Retail Warehouse/ Ancillary: 7,963 sq ft Unit B: Retail Warehouse/ Ancillary: 9,966 sq ft Total Area: 17,929 sq ft
TENANT’S INFORMATION: Graham Plumbers Merchant is a major supplier of plumbing, heating, bathroom materials and renewable solutions. (Source: www.grahamplumbersmerchant.co.uk 12/01/2015) Founded in 1970, Alan Ward is one of the largest independent furniture retailers in the UK. (Source: www.alanwardfurniture.co.uk 12/01/2015) RENT: £90,000 per annum. TENURE: Freehold VAT IS: Applicable
ADDRESS: 128 – 130 Werrington Road, Bucknall, Stoke on Trent, Staffordshire ST2 9AJ • Prominent Location • Both buildings let to Lloyds Pharmacy Ltd. LOCATION Bucknall is located just 1 mile north of Stoke, enjoying easy access to the M6 (Junction 15) via the main A500 and being 32 miles south of Manchester and 40 miles north of Birmingham. SITUATION: Located adjacent to the Cambridge House Doctors’ Surgery on this busy main road in an attractive residential area. DESCRIPTION Two detached properties comprising two ground floor shops with separate side access to a self – contained flat at first floor level and the other having internal access to Ancillary Accommodation at first floor level. ACCOMMODATION No 128 – Ground Floor Shop: Internal Width – 16’4’’, Shop Depth – 36’8’’, Built Depth – 53’8’’, Sales – 600 Sq. Ft. (Approx), Dispensary – 180 Sq. Ft. (Approx), Storage / Staff – 360 Sq. Ft. (Approx) First Floor Flat – 3 Rooms, Kitchen and Bathroom/WC. No. 130 – Ground Floor Shop: Gross Frontage – 28’0’’, Built Depth – 31’6’’ First Floor Ancillary Accommodation – Not Inspected. TENANCY The entire property is let on a full repairing and insuring lease to Lloyds Pharmacy Ltd for a term of 10 years from 26 June 2013 at a rental of £12,000 per annum exclusive. The flat above No 128 and the entire property at No 130 are sublet. RENT: £12,000 per annum. TENURE: Freehold VAT IS: Not Applicable. PRICE: Offers in excess of £ 290,000
Freehold Retail Investment Let to Lloyds Pharmacy Ltd – Bucknall