Leisure/hospitality to let in Great Underbank, Stockport SK1

Location

The property occupies a prominent trading position in Stockport Town Centre at the junction of Great Underbank and Bridge Street, a short walk from the Merseyway shopping precinct, Warren Street, Princes, Stockport Market Place and the Redrock retail and leisure development on Bridgefield Street.

Description

This former bank premises is a two-storey corner terrace of brick construction beneath a pitched slate roof. The subject of this letting is the ground floor, which offers open plan space suitable for several uses including restaurant, café, retail, office, or bar STP.

The premises benefits from solid concrete floor slabs from floor and ceiling, new 3 phase electricity supply, new commercial gas supply, glazed aluminium shop front to all sides, and a clearance height of 3 metres internally.

The premises can be fitted out to shell and to suit the ingoing tenant.

Other nearby users include the much-lauded restaurant “Where the lights go out”, “The Godless Place” restaurant, plus HSBC bank, NatWest Bank and Clarks Shoe shop to name but a few.

Accommodation

As measured on a net internal basis (NIA) in accordance with the RICS Property Measurement 1st Edition: -

Ground Floor 232.25 Sq. M. 2500 Sq. Ft.

Terms

The premises are available on a new effective Fri (fully repairing and insuring) lease for a minimum of 10 years with upward only rent review at the end of the fifth year and all other terms to be agreed.

Rent

£45,000 per annum

Business rates

Rateable Value (2017 List) - £71,500 (whole building)

Upon letting the property will need to be revalued by the voa to separate the ground and upper floors from the above assessment. We would estimate that the adjusted rv would be in the region of £62,000 for the ground floor only, with rates payable being 51.2% of the revised figure.

EPC

D (89)

Services

We understand that mains gas, electric, water and drainage are connected to these premises.

Legal costs

The ingoing tenant is to be responsible for the landlords’ reasonable legal fees in the preparation of the lease and associated documentation.

VAT

We understand that VAT is applicable to the rent on this unit.