GENERAL DESCRIPTION
A period property of brick elevations and tiled pitched roof forming part of a terrace of mixed use properties in the centre of Milton. The building is being sold as an investment opportunity with the ground floor currently rented to Susans Deli, a popular café/deli who have been in occupation for 2 years. The flats above the café are accessed separately via their own private entrance at the front of the building with stairs leading to the first and second floor. The first floor flat, (no: 35) has two bedrooms, an open plan kitchen/lounge and bathroom and with an element of updating should achieve a rent of £600 pcm. The second floor flat, (No: 37) has one bedroom, a lounge, kitchen and bathroom and is let at £380 pcm but has the potential to be £500pcm with some refurbishment work. The agents estimate that fully let at market rent the building could provide an income of c£19,000pa. The property benefits from UPVC double glazing and independent gas central heating.
Location
LOCATION
The property is pavement fronted and occupies a prominent location in the centre of Milton, close to a large free car park and forms part of a popular parade of mixed-use retail properties. Milton is a semi-rural settlement adjacent to Baddeley Green and approx. 4 miles to the north of Hanley and 7 miles southwest of Leek.
Accommodation
ACCOMMODATION
Number 33
Ground floor commercial unit 460 sq ft
Number 35 First floor 2 bedroom flat 439 sq ft
Number 37 Second floor 1 bedroom flat 417 sq ft
(individual room measurements are available on request)
Total NIA: 1,316 sq ft
Terms
TENURE
Available freehold, subject to contract and with the benefit of the existing IRI lease and AST.
BUSINESS RATES/COUNCIL TAX
Rateable Value: £5,400
The tenant is responsible for payment of any business rate liability where applicable.
35 and 37 Millrise Road are both: Band A.
TENANCY DETAILS
The ground floor is let to an individual T/A Susans Deli at £5,750 pa on an IRI lease from 3 rd January 2022 for 4 years. Copy of the lease available upon request.
Specification
SERVICES
All main services are connected. No services have been tested by the agents. Each property is separately metered.
VAT
The sale price is not subject to VAT.
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