Property Summary

  • Mixed use Investment
  • Income £14,856 pa
  • Prominent position
  • Close to Cheadle Town Centre
  • Ground floor shop
  • Two self contained flats

An opportunity to acquire a mixed use investment comprising ground floor retail/beauty rooms and two self contained flats. This attractive three storey property has a rental income of £14,856 per annum and is conveniently located in a prominent location near to Cheadle town centre.

Property Description

Tenure: Freehold

A three storey property of brick construction under a pitched tile roof, comprising ground floor retail premises and two self contained one bedroom flats above. To the rear of the property is a yard, an external staircase leads up to the residential accommodation. All services are separate with their own independent supplies and meters.

This prominent town centre investment enjoys a rental income of £14,856 per annum. A schedule of income and tenancies is provided under the paragraph ‘Tenure’.

The property is located fronting the roundabout where Chapel Street meets the A522 and Well Street in Cheadle. Sat Nav users should use postcode ST10 1DY. Off street parking is available immediately in front of the property and there is a pay and display car park immediately opposite on Asda Supermarket.

GROUND FLOOR
Main retail area: 159 Sq ft (14.77 Sq m)
Treatment room one: 91 Sq ft (8.45 Sq m)
Treatment room two: 122 Sq ft (11.33 Sq m)
Staff room/store: 53 Sq ft (4.92 Sq m)
WC

FLATS
The below accommodation is identical in flat 48a and 50a.

FIRST FLOOR
Kitchen: 8ft 9 x 5ft 9 (53 Sq ft)
Living room: 9ft 8 x 12ft 2 (120 Sq ft)
Under stairs cupboard: 2ft 9 x 2ft 6 (8 Sq ft)

SECOND FLOOR
Bedroom: 12ft 2 x 9ft 8 (119 Sq ft)
Bathroom: 12ft 2 x 6ft 1 (75 Sq ft)

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.

The VOA website advises the rateable value for 2018/19 is £4050. The standard non-domestic business rates multiplier is 49.3p. The small business multiplier is 48.0p up to a rateable value of £51,000. 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.

Each flat has a council tax band of A

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

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

Freehold, subject to the Tenancies noted below:

Ground Floor:
A new agreement from February 2019 (term to be agreed) at £498 pcm / £5976 pa. The Tenant has been in occupation for 3 years.

Flat 48a:
Occupied on an assured shorthold tenancy at £370 pcm

Flat 50a:
A new assured shorthold Tenancy at £370 pcm. The Tenant has been in occupation for 5 years.

Each party is to be responsible for their own legal costs incurred in connection with the sale / purchase of the property.

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.

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 01782 212201. Opening hours are 9.00-5.30pm, Monday to Friday.

VAT is NOT applicable to this property.

Property Address

48-50 Chapel Street
Stoke-on-Trent
Staffordshire
ST10 1DY


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