A commercial investment opportunity consisting of a first floor premise with ground floor access from High Street. Currently producing £5,400 per annum plus further income potential or future development opportunity. High Street Clothing Repairs are not affected and the property is being offered with the Tenant in occupation.
The property forms the first floor of the property and extends over the two ground floor shops below. The main access is located from High Street and there is a fire escape access over the flat roof to the rear. The first floor stairs lead to the landing area from which there are three good sized rooms let to the existing Tenant plus a single office which is vacant. There are two sets of toilet facilities.
The vacant office holds consent to be used for private hire/Taxi booking office, for telephone calls only and no client visits.
The property is currently an investment opportunity with future potential for conversion to residential, subject to planning consent.
The majority of the property is let on the following terms:
Tenant: Private individual Rent: £5,400 per annum Term: 5 years from 1st January 2014
A single office is vacant and does not form part of the above Tenancy.
The area let to the existing Tenant is as follows:
Reception: 7.93 sq m (85 sq ft) Rear office: 10.91 sq m (117 sq ft) Working office: 19.25 sq m (207 sq ft) Cutting room: 15.84 sq m (170 sq ft)
The office not forming part of the Tenants demise and is vacant. Office: 7.26 sq m (78 sq ft)
Net internal area: 61.19 sq m (659 sq ft)
Kitchen & w.C. W.C.
Mains electric and water services are available subject to any reconnection which may be necessary. There is no fixed heating system within the property.
The voa website advises the rateable value for 2018/19 is £3,750. The standard non-domestic business rates multiplier is 49.3p. The small business multiplier is 48.0p up to a rateable value of £51,000. Small Business may benefit for upto100% on premises with a rateable value of up to £12,000 and a tapered relief for rateable values between £12,000 and £15,000.
Bjb recommends interested parties make their own enquiries into the business rate payable any further business rate relief which may be available.
Bjb recommend that potential occupiers make their own enquiries to the local authority in order to satisfy themselves that their proposed use is authorised in planning terms.
On a new Long Leasehold of 125 years and subject to the existing Tenancy.
Each party is to be responsible for their own legal costs incurred in connection with the sale / purchase of the property.
Strictly by appointment via bjb commercial, Head Office, Lake View, Festival Way, Stoke-on-Trent ST1 5BJ. Telephone . Opening hours are 9.00-5.30pm, Monday to Friday.
Vat is not applicable.
Proof Of Identity
To comply with Money Laundering Regulations, on acceptance of an offer for purchase or letting, the buyer or prospective tenant will be required to provide identification to Butters John Bee. Where a property is due to go to auction, all bidders will be required to register prior to auction.
Important notice As the Sellers agent, we are not Surveyors or Conveyancing experts and as such we cannot and do not comment on the condition of the property or other issues relating to title or other legal issues that may affect this property, unless we have been made aware of such matters. Interested parties should employ their own professionals to make such enquiries before making any transactional decisions. We have not carried out a structural survey and the services, appliances and specific fittings have not been tested. All photographs, measurements, floor plans and distances referred to are given as a guide only and should not be relied upon for the purchase of carpets or any other fixtures or fittings. Lease details, service charges and ground rent (where applicable) and council tax are given as a guide only and should be checked and confirmed by your solicitor prior to exchange of contracts. The copyright of all details, photographs and floorplans remain the possession of bjb.
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