Mixed Use
A prominently located two storey mixed use investment opportunity.
The whole building is let by way of an FRI Lease to A Fistful of Vapes Limited at £10,200 per annum on an FRI lease from 12th June 2024 for 5 years. Please see legal pack for more information.
There is also additional income received via a lease agreement for an advertising board on the side of the property. This generates £62.48 per annum.
The accommodation comprises a ground floor sales area that extends to 360 sq.ft to the rear of which is a walkthrough store providing a further 81 sq.ft leading to a lobby area adjacent to the back door, beyond which is the ground floor bathroom.
On the first floor and having separate access is a gas centrally heated one bedroomed flat comprising a lounge, kitchen, bedroom and shower room. Internally the retail unit benefits from a plastered ceiling with double glazed uPVC frontage and door.
LOCATION:
The property is located on Leek Road on the edge of Hanley and surrounded by similar sized retail units including an oatcake shop, barbers and Morrisons Daily. The property is located less than a mile from The University of Stafford and 1 mile from the A500 with easy access to the M6 at junction 15.
SERVICES:
We understand that mains water, drainage, gas and electricity are connected. No services have been tested by the agents.
VAT:
The purchase price is not subject to VAT.
BUSINESS RATES:
Rateable Value: £3,900
Sales Area - 360 sq.ft. Store - 81 sq.ft. WC - 44 sq.ft. TOTAL - 485 sq.ft
Lounge - 177 sq.ft. Kitchen - 41 sq.ft. Bedroom - 129 sq.ft. Shower Room - 30 sq.ft. TOTAL - 377 sq.ft
862 sq.ft
Please be advised that whilst our joint agent has conducted an inspection, the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under and 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 fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £1,500 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.
