Commercial Property
The lot comprises four commercial units with a total of 13,376 sq.ft. NIA in a prime position which we feel could be utilised into a residential scheme in-keeping with various other schemes within the area, subject to obtaining planning consent or simply let with minimal spend.
Occupied by Coral Racing Ltd who occupy all floors, however don’t utilise the space above ground floor and may be open to renegotiation for allowing separate use of the upper floors for a future residential scheme.
Ground Floor Trading Area extending to 2,146 sq.ft.
Basement Area extending to 1,593 sq.ft.
First Floor configured as offices and extending to 1,273 sq.ft.
Second Floor configured as offices and extending to 2,093 sq.ft.
Third Floor configured as offices and extending to 1,730 sq.ft.
Vacant lock up shops with roller shutters in a prime location comprising -
Ground Floor extending to approx 554 sq.ft.
Basement extending to approx 439 sq.ft.
Lower Ground extending to 309 sq.ft.
Vacant ground floor lock up shop with roller shutter in a prime location extending to approx 1,810 sq.ft.
Vacant ground floor unit extending to approx 1,428 sq.ft.
The property is located in Hanley town centre on the north side of the pedestrianised Piccadilly, between its junctions with Brunswick and Pall Mall with national and local retailers within the immediate vicinity. National retailers include TSB Bank and HSBC. Stoke on Trent railway station is approximately a mile away with the M6 motorway close by. The area is in the late stages of a Circa 200 million regeneration scheme.
We understand that the property is subject to the following leases:
32/34 Let to Coral Racing Limited held on a 25 years from 26.07.2002 Rent review every 5th year FR& I basis with next Rent review in 2022 – current rent passing £30,500.
36/36A/38A - Vacant.
38 – Vacant.
25 Brunswick Street - Vacant.
We understand that is no VAT payable on the purchase price.
The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.
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 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 auctioneer’s fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s 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 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 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.
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