For Sale by public auction on Monday 2nd June 2025 at 6.30pm. The Double Tree by Hilton Hotel, Festival Park, Stoke-on-Trent, ST1 5BQ. Live online bidding available.

A two storey mixed commercial and residential investment occupying a prominent position in Cheadle town centre. The current income is £25,990 per annum from all areas. Each flat is self contained and accessible from the rear of the property where there is a yard. Potential for further development/expansion (STPP).

Description:

A two storey property of brick construction under a pitched clay tile roof occupying a prominent position on Cheadle High Street. The property consists of two commercial areas on the ground floor that are both occupied; 74 High Street is let to a mini market and 74B High Street let to a tattoo studio. Both ground floor areas are accessible from the front. To the rear is a courtyard which provides access to a ground floor 1 bed flat (No.1) and an external staircase leading to flats 2 and 3. No.2 is 1 bedroom whereas No.3 is a bedsit.

The premises are fully let yielding a rental income of £25,990 pa; a schedule of tenancies can be seen under paragraph 'Tenure'.

We are advised that a previous application was submitted for the construction of a dwelling at the rear of the property with access over the adjoining car park as part of a joint scheme between the two owners. The scheme halted however the area in question may suit development or an extension to the current building (STPP).

Location:

The property is situated in the centre of Cheadle on High Street. There is on street car parking to the front of the property and Cheadle's main pay and display car park is a short walk away. Nearby retailers include Boots, and B&M.

Accommodation:

GROUND FLOOR
No.74
Front Retail Area: 367 Sq ft (34.09 Sq m)
WC
Lower Ground Floor Staff: 68 Sq ft (6.32 Sq m)
Lower Ground Floor Store: 165 Sq ft (15.33 Sq m)
NIA: 600 Sq ft (55.74 Sq m)

No 74B:
Retail: 164 Sq ft (15.2 Sq m)
Office: 57 Sq ft (5.3 Sq m)
WC
NIA: 239 Sq ft (22.2 Sq m)

Rating:

74 High Street
The VOA website advises the rateable value for 2023/24 is £5,500.

74B High Street
The VOA website advises the rateable value for 2023/24 is £3,050.

The standard non-domestic business rates multiplier is 51.2p. The small business multiplier is 49.9p up to a rateable value of £50,999. 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.

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

Tenure:

Freehold subject to the following Tenancies:

74 High Street
A six year lease from 01/06/24, ending 31/05/30. Rent £7,200 pa

74B High Street
A three year lease from 15/11/24, ending on 14/11/27. Rent £2,950 pa

Flats:
Flat 1 74 High Street - Tenancy from 26th May 2023 until 25th May 2024. This is in the process of being renewed. Rent increasing from £325-£350 pcm
Flat 2 74 High Street - Tenancy from 15th December 2024 until 14th December 2025. Rent £495 pcm
Flat 3, 74 High Street - Tenancy from 4th January 2025 until 3rd January 2026. Rent £525 pcm

Legal Pack:

Purchasing a property at auction is a firm commitment that carries the same legal implications as a signed contract by private treaty. It is important that you consult with your legal adviser before bidding and also your accountant regarding the impact of VAT, if applicable, on the sale price. The legal pack can be viewed online via our website www.buttersjohnbee.com. Legal packs can also be viewed at the selling office. These documents should be passed to your legal adviser as they will help you make an informed decision about the lot. If you need further legal information please contact the vendor's solicitor whose details will be in the auction catalogue. Remember that you buy subject to all documentation and terms of contract whether or not you have read them.

Internet, Telephone & Proxy Bidding:

Interested in this lot but can't attend the auction? You can bid by internet, telephone or by proxy by pre-registering with our auction department on 0800 090 2200 or email auction@bjbmail.com. Further details are available in the catalogue.

Guide Price:

An indication of the seller's current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Reserve Price:

The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Butters John Bee Estate Agents also offer a professional, ARLA accredited Lettings and Management Service. If you are considering purchasing your property in order to rent, are looking at buy to let or would like a free review of your current portfolio then please call the Lettings Branch Manager on the number shown above.

Butters John Bee Estate Agents is the seller's agent for this property. Your conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. We make detailed enquiries of the seller to ensure the information provided is as accurate as possible. Please inform us if you become aware of any information being inaccurate.