Property Description

A prominently located mid terrace investment property briefly comprising a self-contained ground floor shop and two separately accessed self-contained one-bedroom apartments. Current income £19,500pa with scope to increase in line with current market. The property was extensively refurbished and converted approximately 15 years ago and has proved popular with both commercial and residential tenants ever since, due to the presentation of the internal accommodation. Both flats have fitted kitchens and are accessed via a communal front door off Liverpool Road. The first floor flat has the added benefit of a secluded roof terrace which provides private external amenity space. The property is offered on a fully let basis with tenants having recently entered into new agreements and is fully compliant with all current legislation and benefits from above average EPC assessments. Tenancy Details: The ground floor shop is let to an individual (with guarantor) by way of an internal repairing and insuring commercial lease for a term of five years commencing 17th November 2023. During the lease there are incremental annual rent rises as follows: Year 1: £6,540 pa Year 2: £7,020 pa Year 3: £7,500 pa Year 4: £7,980 pa Year 5: £8,460 pa The first floor flat is let by way of a Shorthold Tenancy Agreement for a 12 month period from the 26th January 2024 at a rent of £525 pcm. The second floor flat is let by way of a Shorthold Tenancy Agreement for a 12 month period from the 23rd January 2024 at a rent of £475 pcm. Location: The property is prominently located on Liverpool Road and forms part of an established terrace of similar mixed-use properties forming part of the town centre of Stoke and is close to a number of public car parks. Services: All main services are connected to the building and each individual part is separately metered. The flats benefit from gas fired central heating and there is also an intercom entry system installed. There is a gas supply to the shop however this is capped, and heating is by means of electric wall mounted heaters. No services have been tested by the agents. VAT The sale price is not subject to VAT.

Sales Area:

723 sq. ft.

Kitchen:

109 sq. ft.

Basement Storage:

456 sq. ft.

Living room/Kitchen:

21ft 6 x 10ft 9

Bathroom:

6ft 9 x 10ft 0

Bedroom:

9ft 0 x 18ft 6

Roof Terrace:

24ft 0 x 18ft 6

Living room:

10ft 3x 14ft 3

Kitchen:

14ft 3 x 6ft 3

Bedroom:

12ft 6 x 10ft 0

Bathroom:

10ft 0 x 6ft 0

Conservation Area:

Stoke Town Centre

Flood Risk:

Rivers and Seas No Risk. Surface Water Medium.

Mobile Phone Coverage

O2, EE, Three and Vodafone are available.

Broadband (estimated speeds)

Standard 16 mbps. Superfast 80 mbps.

Satellite and Cable TV Availability

BT, Sky and Virgin are available.

Draft Sales Details

These sales details are awaiting vendor approval.

Tenure

Freehold

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