Location The property is located in Leek town centre and benefits from frontage to Russell Street with pedestrianised access to the rear. The Aldi supermarket is immediately opposite the rear entrance porch.
Description A fantastic opportunity to acquire a town centre investment property. The property consists of a ground floor retail unit currently let out at £7,500 per annum to White Lane Boutique who sell female designer wear and accessories. To the 1st floor there is a self-contained office which is currently vacant, however the office was previously let out at £4,500 per year.
Services Mains electricity, gas-fired central heating and water are connected. Please note that no services have been tested by the agents.
Terms Available by way of a new full, repairing and insuring lease (by way of service charge) for a term of years to be agreed, subject to rent reviews every three years. Alternatively, the freehold is available with the current leases being in place at the time of completion.
Outgoings Business rates
25-27 Russell Street: Rateable Value: £8,600 Rates payable: £4,222.60 (19/20)
25a Russell Street: Rateable Value: £3,150 Rates payable: £1,546.65 (19/20)
If you qualify for Small Business Rate Relief then you may be entitled to 100% exemption, subject to status.
VAT The rent or sale price will not be subject to VAT.
Parking notes To the rear are two car parking spaces.
Other Tenancy schedule
25-27 Russell Street: Tenant: Karen Barnett Lease: 29th March 2018 – 28th March 2021 Annual rent: £7,500 pax EPC
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