Residential Development
A freehold property comprising two former mid terraced commercial buildings of brick construction, which have been knocked through to create one larger trading area whilst retaining separate rear areas along with separate upper floors.
The ground floor accommodation comprises a trading area to the front leading to office and storage accommodation and a W/C to the rear. The first-floor accommodation is accessed via two separate staircases on either side of the building leading to upper areas currently used as storage.
The property benefits from full planning consent for the creation of 4 units. Comprising a single commercial unit to the ground floor and the creation of two residential units to the first floor and a third residential unit to the roof space.
This would provide a mixed-use scheme within an area of substantial demand and growth, and we feel this poses a very lucrative opportunity.
Interested parties are advised to inspect the City of Stoke on Trent planning portal 68870/FUL for more detailed information and inspect the legal pack available from the SDL auctions advert.
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.
