• Fully let investment opportunity offering a 7.8% yield.
• 2 storey property comprising ground floor retail with flat above.
• Main road location forming part of an established parade of retail units
• Total NIA: 755 sq ft.
• EPC: Shop- Band D (98) Flat- Band E (49)
GENERAL DESCRIPTION
This mid terrace, two storey property with UPVC double
glazed windows, offers a secure, fully let investment
opportunity with a 7.8% yield. The property features a
recently refurbished ground-floor retail space with a 1 bed-flat
above, providing a well-rounded commercial and residential
combination. Positioned on a main road, the property forms part
of an established retail parade with on street parking available out
front and a 1 parking space at the rear of the property assigned to
the upstairs tenant.
LOCATION
The property is located just off Dividy Road at the roundabout
junction with Twigg Street and is approximately 1 mile from Hanley
centre. Other occupants of the parade include a barbershop, vape
shop and Coral Bookmakers.
SERVICES
Mains electric, water and drainage are connected. No services
have been tested by the agents.
VAT
The sale is not subject to VAT.
BUSINESS RATES
Rateable value £5,800
Rates payable £2,894.20 pa (23/24)
TENURE
The property is available freehold, subject to contract and with the
benefit of the existing leases in place at date of completion.
TENANCY DETAILS
The ground floor shop is let to an individual with a guarantor
in place by way of full repairing and insuring commercial lease
for a term of five years commencing 28th May 2024 at a rent
of £7,000pa.
The flat is let by way of a Shorthold Tenancy Agreement for a
6-month period from 3rd February 2024 at a rent of £325pcm.
Overall income stands at £10,900pa.
ACCOMMODATION
Shop
Sales area 232 sq ft
Store room 1 76 sq ft
Store room 2 86 sq ft
Kitchen 39 sq ft
WC --
Flat
Bedroom 96 sq ft
Living area 155 sq ft
Kitchen 35 sq ft
Bathroom 36 sq ft
Hallway --
Total NIA 755 sq ft
ANTI MONEY LAUNDERING REGULATIONS
In accordance with the anti-money laundering regulations,
two forms of identification will be required (e.g. photographic
driving license, passport, utility bill) from the applicant and a
credit check may also be required, the cost of which will be
the responsibility of the applicant. Where appropriate we will
also need to see proof of funds.
