Commercial property for sale in Tontine Street, Hanley, Stoke-On-Trent ST1

An opportunity to acquire an investment of 2 properties under one title, currently both let out with a combined income of £11,400 per annum. Number 48 is a sweet shop let on a 5 year lease which commenced 5th January 2021 to 4th January 2026. Number 50 is a mobile repair shop let on a 7 year lease which commenced 15th August 2021 to 14th August 2028 and is outside the landlord & tenant act.

Description

A town centre investment consisting of a ground floor sweet shop and ground and first floor mobile repair centre. Both leases commenced in 2021 with the sweet shop due to expire 4th Jan 2026 and the mobile repair centre 14th August 2028. The first floor for the mobile phone centre runs above both of the ground floor retail areas.

Location

Tontine Street is situated within Hanley town centre with nearby amenities such as McDonalds, Subway and Weatherspoons. Hanley is a short drive from Festival Park Retail Park, the A500 which gives access to J15 & J16 of the M6 as well as other towns within the city.

Accommodation

48 Tontine Street (sweetshop)
Ground Floor
Retail : 208 sq ft (19.29 sq m)
Store : 58 sq ft (5.43 sq m)
Kitchenette : 22 sq ft (2.04 sq m)

Total : 288 sq ft (26.76 sq m)

50 Tontine Street (mobile phone shop)
Ground Floor
Retail : 236 sq ft (21.94 sq m)

First Floor
Work area : 221 sq ft (20.52 sq m)
Kitchen / store / w.c. 190 sq ft (17.64 sq m)
Store room not accessed

Total : 647 sq ft (60.01 sq m)

Whole Building : 934 sq ft (86.77 sq m)

Services

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

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.

Rating

The voa website advises the rateable value for 2023/24 for 48 Tontine Street is £4,000 and for 50 Tontine Street is £5,200. 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 subject to leases in place.

48 Tontine Street has a lease until 4th January 2026 and is currently paying £5,400 per annum
50 Tontine Street has a lease until 14th August 2028 and is currently let at £6,000 per annum.

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.

Legal Costs - Sale

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

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.

Vat

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