Retail premises for sale in Bridge Street, Congleton CW12

* excellent investment oppertunity currently producing £1300 pcm rental income *

A stunning 3 storey property located on the main shopping parade in Congleton Town Centre which is currently let to the Francesco franchise for £13,000 per year. The property is presented to exceptional exacting standards and so will be attractive to professional landlords.

This is a beautiful building which has enjoyed considerable investment over the years. The incumbent occupier holds an underlease under licence of the Francesco Franchise who own the head lease.

We await a copy of the head lease but we understand that this remains a fixed term for the next two years at least, We invite individuals who may desire to become owner/ occupiers to express interest, and we can explore any possibility of the head lease holder surrendering the lease (this has not been explored at all at this stage and it may not be possible).

All bar one room within the circa 1200 sqft property has been refurbished to a vary high standard, making this a great option for any potential future occupier. Hair and beauty businesses appear to have become one resilient industry who can make Town Centre premise occupation successfully work. The incumbent sub lease holder runs a successful business and has enjoyed strong net profits for the last 12 months, the current occupier is offering the business for sale, speak to Chris Hamriding about this directly before proceeding.

The property is located within the thriving pedestrianised main shopping street within the Town Centre. Big name businesses such Costa, wh Smiths, Superdrug etc neighbour the immediate area and customer exposure is guaranteed. Viewing essential. There is a fire escape at the rear leading to a very small rear yard.

Room Areas & Rateable Value

Shop floor areas
DescriptionArea m2/unit£ per m2/unitValue
Ground floor retail zone a22.3£350.00£7,805
Ground floor retail zone b20.3£157.50£3,197
Ground floor retail zone b2.8£157.50£441
Ground floor internal storage7.9£35.00£277
Ground floor internal storage15.8£35.00£553
First floor internal storage11.6£13.13£152
First floor internal storage21£13.13£276
Ground floor retail zone a2.2£315.00£693
Ground floor retail zone c9.1£78.75£717
Total113 £14,111
Valuation
Total value£14,111
Rateable value (rounded down)£14,000

Small Business Rate Relief

Small business rate relief discounts are based on the rateable value of the property in relation to lower and upper threshold figures set by central government.

From 1 April 2017, the lower threshold is £12,000 and the upper threshold is £15,000.

To get small business relief, either of the following must apply:

You occupy a single property with a rateable value of up to the upper threshold
you occupy one property with a rateable value up to the upper threshold and other properties that each have a rateable value below £2,900 (from 1 April 2017) and the total rateable value of all properties is below £20,000.
You can only get the discount for the main property.

If you take on another property that means your business no longer meets these conditions, you can still keep getting small business rate relief for another year.

How much rate relief small businesses can get
Properties with a rateable value below the lower threshold get 100% discount. This discount then decreases gradually until it reaches 0% for properties with a rateable value at the upper threshold. This sliding scale is called tapered relief.

From 1 April 2017, the discount goes down by 4% for every £120 of rateable value.

Example small business relief discounts
Example small business discounts
Rateable value in 2017Discount
Up to £12,000100%
£12,75075%
£13,50050%
£14,25025%
£15,000 and over0%