Commercial Property
A substantial three-storey building constructed in 1900s of brick elevations with attractive sandstone detailing. The building is currently part let generating £18,732 per annum. There is the potential to increase rent to circa £33,000 per annum fully let or part conversion to residential use, subject to obtaining planning permission.
With the property being situated on a corner plot we understand it is registered under the postcodes of ST3 2QH and ST3 2PD.
The property comprises:
Three separate retail units - all let.
The first and second floors are currently used as offices and upon inspection were part let. The office space to the first and second floors extends approximately 6,090 sq.ft. (566 sq.m.) arranged as several individual offices accessed via an internal staircase with separate self-contained access of The Strand.
It is felt the upper floors would lend themselves well to a residential use, subject to obtaining planning consent. The three commercial units could also potentially be sold separately.
The property is prominently located on The Strand immediately opposite the entrance to The Longton Exchange public car park. It is also close to the A50 dual carriageway and forms part of an established parade of mixed use commercial buildings, some of which have been converted to residential use.
We are informed the following agreements are in place:
Ground Floor - 98-100 The Strand:
Andrew Paul Bardell – Bicycle Shop
£4,332 per annum. License since 01/06/2019 rolling basis.
Ground Floor - 102-104 The Strand:
Dwa Koty Stoke Limited
£4,500 per annum. Lease expiring 01/07/2024.
Ground Floor - 106-108 The Strand:
Motor Accessories and Tyre Bay
£9,900 per annum. Lease expiring 31/12/2020 – tenant in occupation since 1996. They also occupy a small room on the first floor for the storage of wheels.
First Floor – Right side
Vacant - Previously achieved £6,500 per annum.
First Floor – Left side
Vacant - These offices were vacated in December 2019. Previously achieved £4,000 per annum.
Second Floor -
Vacant - These offices were vacated in February 2019.
The Auctioneers have not had sight of these agreements and interested parties are to refer to the legal pack for further information.
We understand that VAT will not be chargeable.
Freehold.
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 Fixed Fee.
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 auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s 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
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.
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