Mixed Use
A substantial three storey building formerly an up market Chinese Restaurant located along Glass Street, Stoke thought suitable for a variety of alternate uses offered with vacant possession upon completion. The premises extend circa 6,500 sq ft
The Ground floor accommodation comprises a former restaurant with commercial kitchen, pan tree and storage, along with male and female wc.
The first-floor accommodation comprises a large function room along with two smaller partitioned private dining rooms and a fire escape.
The second floor is partitioned off into 8 separate bedsits some having wc and shower all in need of renovation.
The building also includes a separate entrance which we are led to believe was originally number 1 Glass Street. This comprises a bar to the ground floor (accessible from the main restaurant) and further living accommodation to the first and second floors.
There is a dry cellar below currently used as storage.
Externally is a yard. There are several car parks within the vicinity.
We feel the building offers huge scope for conversion into a scheme of residential dwellings subject to planning.
Glass Street is situated just off Town Road, directly opposite the Potteries Shopping Centre and close to the current nightlife with further pubs and bars.
These sales details are awaiting vendor approval.
Freehold. Vacant possession upon completion.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
