Summary
A mid-terraced building of brick elevations with pitched tiled roof coverings offered to the market as an income producing investment with separate tenants on the ground and first floor. Tax Aiders is an established tax consultancy who have recently signed a new Internal
Repairing and Insuring 5 year lease. The first floor flat is occupied on a 6 month rolling AST and the current tenant has been in occupation since May 2024 . The ground floor offers 524 sq ft of usable space plus WC and is in good clean condition. On the first floor and with its own separate entrance is a one bedroom/studio flat with bedroom, integral lounge, kitchen and bathroom. The property is being sold with the tenants in situ and is not available with vacant possession. At the asking price and with the current rental income, the investment presents potential buyers with a gross yield of just over 11% with future asset management opportunities with residential rent growing.
Key Points
Two storey building with ground floor commercial lease and first floor ASTNew 5 year lease signed April 2025 with Tax Aiders at £6,240paOne bedroom flat above on 6 month AST paying £4,940paTotal NIA: 873 sq ft
Services
Mains water, drainage and electricity are connected. Heating is provided by a electric wall heaters throughout. No services have been tested by the agents.
VAT
The sale price is not subject to VAT.
Tenure
Available freehold, subject to contract and with the benefit of the existing IRI and AST leases.
Business Rates
Rateable Value: £5,000
The tenant is responsible for payment of any business rate liability where applicable.
Council Tax
54 Marsh Street South, Hanley, ST1 1JD – Band A
Tenancy Details
The ground floor is let to a private individual, T/A Tax Aiders at £6,240pa on an IRI lease from 1st April 2025 for 5 years. Copy of the lease available upon request.
The first floor is let to a private individual at £4,940pa on a rolling 6 month AST from 4th May 2024. Copy of the AST with private information removed is available upon request.
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.
Location
The property is located on Marsh Street South just off Trinity Street and within a 2 minute walk of the centre of Hanley. Hanley can be accessed via the A500 and A50 and is 5 miles from junction 15 of the M6 motorway.