This mid terrace, two storey property with UPVC double glazed windows, offers a secure, fully let investment opportunity with a 7.8% yield. The property features a recently refurbished ground-floor retail space with a 1 bed-flat above, providing a well-rounded commercial and residential combination. Positioned on a main road, the property forms part of an established retail parade with on street parking available out front and a 1 parking space at the rear of the property assigned to the upstairs tenant.
Location
The property is located just off Dividy Road at the roundabout junction with Twigg Street and is approximately 1 mile from Hanley centre. Other occupants of the parade include a barbershop, vape shop and Coral Bookmakers.
Accommodation
Shop
Sales area -232 sq ft
Store room 1 -76 sq ft
Store room 2 -86 sq ft
Kitchen -39 sq ft
WC --
Flat
Bedroom- 96 sq ft
Living area- 155 sq ft
Kitchen- 35 sq ft
Bathroom -36 sq ft
Hallway --
Total NIA- 755 sq ft
Terms
The property is available freehold, subject to contract and with the benefit of the existing leases in place at date of completion.
Specification
SERVICES
Mains electric, water and drainage are connected. No services have been tested by the agents.
VAT The sale is not subject to VAT.
TENANCY DETAILS
The ground floor shop is let to an individual with a guarantor in place by way of full repairing and insuring commercial lease for a term of five years commencing 28th May 2024 at a rent of £7,000pa. The flat is let by way of a Shorthold Tenancy Agreement for a 6-month period from 3rd February 2024 at a rent of £325pcm. Overall income stands at £10,900pa.
ANTI MONEY LAUNDERING REGULATIONS
In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the responsibility of the applicant. Where appropriate we will also need to see proof of funds.