icons_size_white icons_size

AGENT'S DETAILS


Freehold Shop and Residential Investment

For sale: £400,000.00|3960 Sq Ft|Residential, Flat, General Retail, Retail - High Street, Retail

PROPERTY DETAILS

FOR SALE£400,000.00
SIZE3960 Sq Ft
ADDRESS75-79 Oxford Road, Basford, Newcastle-under-Lyme ST5 0QB
TYPEResidential, Flat, General Retail, Retail - High Street, Retail
TENUREFor Sale Freehold
POSTED ON23rd August 2020

DESCRIPTION

Investment Consideration:
VAT is NOT applicable to this property
Comprising convenience store on the ground floor and two large flats on the first floor
Commercial unit break clause in 2020 not exercised
Flats refurbished in 2012. Residential tenants in occupation since 2012
Roof on the rear of the property replaced in 2019
The property is located in predominantly residential area, while Etruria Trading Estate is ½ mile away occupying tenants such as Pure Gym, Screwfix, Dreams, BSS, amongst others.

Property Description:
The property is arranged as a convenience store on the ground floor and two separately accessed flats on the first floor. The property provides the following accommodation and dimensions:

Ground Floor: 179.00 sq m (1,926 sq ft)
Flat No. 75A (First Floor): 134.00 sq m (1,442 sq ft)
Flat No. 77 (First Floor): 55.00 sq m (592 sq ft)

Tenancy:
The ground floor convenience store is at present let to McColl’s for a term of 10 years from 1st November 2015 at a current rent of £16,500 per annum and the lease contains effectively full repairing and insuring covenants. The lease provides for rent review every fifth year. Break clause in 2020 not exercised. The first floor flat (No.75a) is at present let to an individual on AST for a term of 12 months (Holding Over) at a current rent of £5,220 per annum. The first floor flat (No.77) is at present let to an individual on AST for a term of 12 months (Holding Over) at a current rent of £4,920 per annum. The residential tenants have been in occupation since 2012.

Location:
Newcastle-under-Lyme is a market town in Staffordshire, England with a population of 75,082. The town is served by the M6 motorway to the south and west of Newcastle and by the A500 road to the north and east. There are access points from the M6 at junctions 15 and 16, to the south and north respectively. The A34 trunk road runs through Newcastle from north to south and was the main road between Birmingham and Manchester until the M6 motorway opened. There is a large bus station in the town centre. The property is located in predominantly residential area, while Etruria Trading Estate is ½ mile away occupying tenants such as Pure Gym, Screwfix, Dreams, BSS , amongst others.

LOCATION

Location: 75-79 Oxford Road, Basford, Newcastle-under-Lyme ST5 0QB

Longport (1.5 miles)

Stoke-on-Trent (1.6 miles)

Longton (3.7 miles)

close
What do you think of our website?
Complete our survey and
you could win £1000
Start here