Commercial property for sale in Greendock Street, Longton, Stoke-On-Trent ST3

Edensor Works is a imposing three storey former pottery with parking near to the A50 and just a short distance from Longton Town Centre. Part let and producing a rental income of £15,500 pa, there is the potential to increase this to £26,000 pa plus through the letting of vacant parts.

Description

A three storey property of solid brick construction under a series of pitched corrugated roofs. At ground floor level the property benefits from having electrically operated roller shutters doors whilst there is a steel staircase and forklift loading door to the first floor. The second floor is accessible via internal stairs however this area has not been considered in the total projected rental income for the property (£26,000 pa). Following renovation and improvements, the second floor could be let out for an additional £5,000 pa bringing the total projected income to over £30,000 pa.

The property will be sold subject to two Tenancies in place, the first one being a moulds person whilst the front section of the ground floor is let to the present owner who wishes to continue to use the space for storage and private vehicle repairs (hobby).

Location

The property is located in Greendock Street in Longton on the eastern side of the city of Stoke on Trent with excellent road links to the A50 which in turn connects to the A500 and M6 to the west and M1 to the east.

Accommodation

Ground floor:
Garage: 802 Sq ft (74.51 Sq m) - let
Pottery/Workshop (inc spray booth): 2,998 Sq ft (278.51 Sq m) - let
Former WC Block: 229 Sq ft (21,27 Sq m) - vacant

First floor

Front Showroom/Workshop: 1,028 Sq ft (95.50 Sq m) - vacant
Rear Store/Workshop: 1,058 Sq ft (98.29 Sq m) - vacant
Proposed communal access: Not measured

Second floor

Storage: 2,602 Sq ft (241.73 Sq m)

total gia: 9,388 Sq ft (872.15 Sq m)

Planning

Bjb recommend that potential occupiers make their own enquiries to the local authority in order to satisfy themselves that their proposed use is authorised in planning terms.

Services

All mains services are available subject to any reconnection which may be necessary.

Rating

The voa website advises the rateable value for 2023/24 is to be reassessed and estimated at £10,000 - £15,000. The standard non-domestic business rates multiplier is 51.2p. The small business multiplier is 49.9p up to a rateable value of £50,999. Small Business may benefit for upto100% on premises with a rateable value of up to £12,000 and a tapered relief for rateable values between £12,000 and £15,000.

Bjb recommends interested parties make their own enquiries into the business rate payable any further business rate relief which may be available.

Tenure - Freehold

Freehold. The premise can be purchased with or without tenants. If the purchaser is looking to acquire the property as an investment then an initial 12 month lease or License can be agreed with the current Tenants at £15,500 pa for the ground floor space. The existing Tenants have no rights to remain and therefore the property can be offered with vacant possession.

Legal Costs - Sale

Each party is responsible for their own legal costs in respect of the sale of this premises.

Proof Of Identity

To comply with Money Laundering Regulations, on acceptance of an offer for purchase or letting, the buyer or prospective tenant will be required to provide identification to Butters John Bee. Where a property is due to go to auction, all bidders will be required to register prior to auction.

Vat

We have been advised Vat is not applicable to this property.

Viewing

Strictly by appointment via bjb commercial, Suite 1, Albion House, No.2 Etruria Office Village, Forge Lane, Festival Park, Stoke-on-Trent, ST1 5RQ
Telephone . Opening hours are 9.00-5.30pm, Monday to Friday.