Mixed Use
A prominently located mid terrace investment property briefly comprising a self-contained ground floor shop and two separately accessed self-contained one-bedroom apartments. Current income £19,020pa with scope to increase in line with current market values.
The property was extensively refurbished and converted approximately 15 years ago and has proved popular with both commercial and residential tenants ever since, due to the presentation of the internal accommodation.
Both flats have fitted kitchens and are accessed via a communal front door off Liverpool Road. The first floor flat has the added benefit of a secluded roof terrace which provides private external amenity space.
The property is offered on a fully let basis with tenants having recently entered into new agreements and is fully compliant with all current legislation and benefits from above average EPC assessments.
Tenancy Details:
The ground floor shop is let to an individual (with guarantor) by way of an internal
repairing and insuring commercial lease for a term of five years commencing 17th November 2023. During the lease there are incremental annual rent rises as follows:
Year 1: £6,540 pa
Year 2: £7,020 pa
Year 3: £7,500 pa
Year 4: £7,980 pa
Year 5: £8,460 pa
The first floor flat is let by way of a Shorthold Tenancy Agreement for a 12 month period from the 26th January 2024 at a rent of £525 pcm.
The second floor flat is let by way of a Shorthold Tenancy Agreement for a 12 month period from the 23rd January 2024 at a rent of £475 pcm.
Location:
The property is prominently located on Liverpool Road and forms part of an established terrace of similar mixed-use properties forming part of the town centre of Stoke and is close to a number of public car parks.
Services:
All main services are connected to the building and each individual part is separately metered. The flats benefit from gas fired central heating and there is also an intercom entry system installed. There is a gas supply to the shop however this is capped, and heating is by means of electric wall mounted heaters. No services have been tested by the agents.
VAT
The sale price is not subject to VAT.
723 sq. ft.
109 sq. ft.
456 sq. ft.
21ft 6 x 10ft 9
6ft 9 x 10ft 0
9ft 0 x 18ft 6
24ft 0 x 18ft 6
10ft 3x 14ft 3
14ft 3 x 6ft 3
12ft 6 x 10ft 0
10ft 0 x 6ft 0
Stoke Town Centre
Rivers and Seas No Risk. Surface Water Medium.
O2, EE, Three and Vodafone are available.
Standard 16 mbps. Superfast 80 mbps.
BT, Sky and Virgin are available.
Freehold. Subject to tenancy.
- Heating Supply: Double Glazing, Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
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 (subject to a minimum of £6,000 inc. VAT).
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.
