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Agent's details

2 & 2a Westwood Road, Leek, Staffordshire, ST13 8DH

For sale: £159,999.00|Retail, Office, Offices

Property details

FOR SALE£159,999.00
ADDRESS2 & 2a Westwood Road, Leek, Staffordshire, ST13 8DH
TYPERetail, Office, Offices
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON17th April 2024

Description

GENERAL DESCRIPTION
A prominently located and extended property briefly comprising a self-contained ground floor retail unit together with a separately accessed and self-contained four-bedroom flat with roof terrace. The retail unit is let to an individual who has been in occupation since December 2019 and currently operates a retro toy/collectables shop offering a range of niche products. The property is prominently located at the junction with Westwood Road and Grove Street and has extensive frontages to each road with access to the flat being off Grove Street. An internal staircase provides access to the entrance to the flat and a secluded roof terrace which provides an additional amenity. The flat is well presented throughout and deceptively spacious providing four bedrooms, a large
kitchen, bathroom and is currently vacant.

LOCATION
Occupying a prominent location at the junction with Westwood Road and Grove Street the property is situated in an established and densely populated residential area approx. 500 yards from both the town centre and the A523.

SERVICES
All mains services are connected. No services have been tested by the agents. All of the equipment within the property is included in the sale. The agents have not tested any of the equipment.

VAT
The sale price is not subject to VAT

TENURE
Available freehold, subject to contract and with the benefit of the ground floor commercial lease and with vacant possession of the flat.

BUSINESS RATES/COUNCIL TAX
2 Westwood Road
Rateable Value: £8,800
The tenant is responsible for all business rate liabilities.

2A Westwood Road
Council Tax Band B
Payable: £1,677.24 pa (24/25)


EPCs
2 Westwood Road: 70 (Band C)
2A Westwood Road: 52 (Band E)

ACCOMMODATION
2 Westwood Road (shop)
Sales area: 990 sq ft
Office: 94 sq ft
Kitchen: 202 sq ft
WC --
Total N/A 1,286 sq ft

2a Westwood Road (flat)
First Floor:
Kitchen: 12’0’’ x 13’ 9’’
Livingroom: 19’0’’ x 10’0’’
Bathroom: 6’0’’ x 6’0’’
Bedroom 1: 12’9’’x 11’9’’
Bedroom 2: 9’0 x 8’ 3’’
Bedroom 3: 12’9’’x 9’3’’
Bedroom 4: 9’0’’ x 8’0’’
Roof terrace: 12’0’’ x 25’0’’

TENANCY DETAILS
The ground floor shop is let to an individual by way of a 1 year lease from 20th December 2019. The original rent of £7,000 pa continues to be paid. There is therefore the opportunity to negotiate a new tenancy with the tenant and potentially agree a higher rent. A copy of the ease can be made available upon request. The flat is vacant. The agents estimate that it should let for
£700 pcm.

On the above basis the property, fully et should produce an income of no less than £15,400 pa which equates to a gross return on investment of 9.6 %.

Location

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Location: 2 & 2a Westwood Road, Leek, Staffordshire, ST13 8DH

Congleton (7.6 miles)

Longport (8.8 miles)

Kidsgrove (8.9 miles)

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