Property photos
Freehold
Offers in region of
£185,000
(£134.55/sq. ft)
Property for sale
Piccadilly, Hanley, Stoke-On-Trent ST11,375 sq. ft
Local area information
Property location
Nearby amenities
- Unity School 0.2 miles
- Hanley St Luke's CofE Aided Primary School 0.4 miles
- Stoke-on-Trent 1.2 miles
- Longport 2 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Stoke-On-Trent to find out more about the local area.
Features and description
- Freehold
Key Points
Town centre single let investment opportunity Business Not Affected Lease renewed from 9th August 2024 Stepped rent Excellent location in Hanley Cultural Quarter Close proximity to The Regent Theatre
Description
The property is a well maintained two storey mid-terrace building which has been fully refurbished over recent years including new flooring, new shop frontage and re-wired. Furthermore, the tenant has transformed the premises into a restaurant & bar with ground floor customer area, 2 x WCs and storage. The first floor provides for a commercial kitchen, preparation area, storage and office.
The property is freehold and lease renewal completed on the following terms:
- Tenant: Blooms Bar Limited
- Renewal Lease dated 2nd February 2024, for a term of 4 years from 9th August 2024.
- Full repairing and inuring basis.
- Stepped rent of £13,500 until 9th August 2024, £14,000 pa until 8th August 2025 and £15,000 pa thereafter.
- Tenant option to determine 8th August 2026, subject to 6 months prior notice.
- Rent deposit held for the lease duration.
£185,000 plus VAT, representing a Net Initial Yield of 7.98% based upon the full rent, assuming purchaser’s costs of 1.61%.
The sale may be treated as a Transfer of Going Concern.
Location
The property is located centrally on Piccadilly, with a range of surrounding occupiers including retail, professional offices, cafes and restaurants. Piccadilly is located within the Cultural Quarter with The Mitchell Arts Centre, Potteries Museum & Art Gallery and the Regent Theatre all within close vicinity.
Hanley Bus Station is only 0.3 mile from the property and Stoke-on-Trent Railway Station is 1.3 miles.
Description
The property is a well maintained two storey mid-terrace building which has been fully refurbished over recent years including new flooring, new shop frontage and re-wired. Furthermore, the tenant has transformed the premises into a restaurant & bar with ground floor customer area, 2 x WCs and storage. The first floor provides for a commercial kitchen, preparation area, storage and office.
The property is freehold and lease renewal completed on the following terms:
- Tenant: Blooms Bar Limited
- Renewal Lease dated 2nd February 2024, for a term of 4 years from 9th August 2024.
- Full repairing and inuring basis.
- Stepped rent of £13,500 until 9th August 2024, £14,000 pa until 8th August 2025 and £15,000 pa thereafter.
- Tenant option to determine 8th August 2026, subject to 6 months prior notice.
- Rent deposit held for the lease duration.
£185,000 plus VAT, representing a Net Initial Yield of 7.98% based upon the full rent, assuming purchaser’s costs of 1.61%.
The sale may be treated as a Transfer of Going Concern.
Location
The property is located centrally on Piccadilly, with a range of surrounding occupiers including retail, professional offices, cafes and restaurants. Piccadilly is located within the Cultural Quarter with The Mitchell Arts Centre, Potteries Museum & Art Gallery and the Regent Theatre all within close vicinity.
Hanley Bus Station is only 0.3 mile from the property and Stoke-on-Trent Railway Station is 1.3 miles.
Floor plans and tours
Floor plans (1)
More information
Listed by
Mounsey Chartered Surveyors
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Property descriptions and related information displayed on this page are marketing materials provided by - Mounsey Chartered Surveyors. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Mounsey Chartered Surveyors for full details and further information.