Retail premises for sale

Former Marks And Spencer, 11-13 Upper Market Square, Hanley, Stoke On Trent ST1

Description

A large city centre former department store of reinforced concrete frame with brick elevations and flat roof coverings available with vacant possession. The property extends to approx. 82,000 sq ft offers a unique opportunity to a developer/investor looking for a landmark city centre building to convert into a substantial mixed use development comprising retail, leisure and residential accommodation. In 2022 the current owner had a pre-app meeting with the local planning department to discuss the proposed plans to convert the building into a mixed-use development which was warmly received. The planners provided a strong indication that such an Application would be approved however, the proposed scheme has not yet been submitted for consideration. It is still considered that there is a severe lack of housing in city centre that could serve both the local student and key worker population. Stoke on Trent Councils response to the proposal can be made available upon request which includes statements along the lines of: “The policies are also supportive of the introduction of a residential market and high density living within the city centre”

Location

The property is located at the junction of Parliament Row and Tontine Square and is opposite the entrance to The Potteries Centre and is on a very busy and popular pedestrianised part of the centre of Hanley.

Services

We understand that all mains services are connected. Interested parties are advised to seek their own clarification relating to the availability of utility services.

VAT

The sale price/rent is subject to VAT. It is anticipated that the building can be sold as a togc and that the VAT element should be recoverable.

Tenure

Available freehold, subject to contract and with vacant possession. Alternatively, on a Full Repairing and Insuring lease for a term to be agreed, subject to ret reviews every three years and with each party bearing their own legal fees

Accommodation

Arranged over four floors the property has a Gross Internal Area of approx. 81,862 sq ft (7,607 sq m)

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.