Block of flats for sale in Percy Street, Hanley ST1

Guide Price £325,000 * Plus 4% Buyers Premium + VAT (subject to a minimum of £5,000+VAT)

Online auction date - 29/04/2024

Guide Price £325,000 * Plus 4% Buyers Premium + VAT (subject to a minimum of £5,000+VAT)

For sale by unconditional online auction.

To review the legal documents and to view the auction information click on the buttons at the bottom of this advert or visit our website

Unconditional lot

Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 10% deposit and a 4%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).

Pre auction offers are considered

The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of id, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.

Special conditions

Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the

legal documents'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

Percy Street is centrally located within the centre of the Hanley district of Stoke On Trent, close to the very popular Cultural Quarter where a wide range of retail, leisure and office orientated businesses are located. The recently establish Smithfield development () is also close at hand, where over 210,000 sq. Ft of Grade A office space has already been built and occupied with another 214,000 sq. Ft. In the pipeline. The Hilton Garden Inn hotel and an 11 storey 151 unit apartment block have also been constructed and a 730 space multi storey car park is currently under construction. Festival Park is within a 15-minute walk where a significant number of office businesses are located together with leisure outlets such as Water world, the Odeon Cinema and Stoke Ski Centre.

Description

The property comprises a mid-terraced property with a ground floor (and basement) retail unit, currently trading as a betting shop, with three superbly presented self-contained apartments above. The ground floor retail unit consists of a retail sales area of approximately 715 sq. Ft. And further 807 sq. Ft. Of basement storage. There are toilet facilities to both ground and basement levels. The first and second floors were converted by the vendor in 2017 to now offer a 2 bedroom duplex flat, and two, one bedroom flats of the highest quality. The property is currently let, and will produce a total income of £30,050 per annum.

Tenancies

Ground floor – Let to Ladbroke Betting & Gaming Ltd for a term of 5 years, expiring 28/9/2025. The passing rent is £13,250 per annum.
Flat 1 (2 bed duplex) – let at £500 pcm currently vacant with a tenant due to go in
Flat 2 (1 bed) – let at £450 pcm
Flat 3 (1 bed) – let at £450 pcm
Total Rent - £30,050 per annum

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.