An opportunity to acquire an investment of 2 properties under one title, currently both let out with a combined income of £11,400 per annum. Number 48 is a sweet shop let on a 5 year lease which commenced 5th January 2021 to 4th January 2026. Number 50 is a mobile repair shop let on a 7 year lease which commenced 15th August 2021 to 14th August 2028 and is outside the landlord & tenant act.

Description:

A town centre investment consisting of a ground floor sweet shop and ground and first floor mobile repair centre. Both leases commenced in 2021 with the sweet shop due to expire 4th Jan 2026 and the mobile repair centre 14th August 2028. The first floor for the mobile phone centre runs above both of the ground floor retail areas.

Location:

Tontine Street is situated within Hanley town centre with nearby amenities such as McDonalds, Subway and Weatherspoons. Hanley is a short drive from Festival Park Retail Park, the A500 which gives access to J15 & J16 of the M6 as well as other towns within the city.

Accommodation:

48 Tontine Street (sweetshop)
Ground Floor
Retail : 208 sq ft (19.29 sq m)
Store : 58 sq ft (5.43 sq m)
Kitchenette : 22 sq ft (2.04 sq m)

Total : 288 sq ft (26.76 sq m)

50 Tontine Street (mobile phone shop)
Ground Floor
Retail : 236 sq ft (21.94 sq m)

First Floor
Work area : 221 sq ft (20.52 sq m)
Kitchen / store / w.c. : 190 sq ft (17.64 sq m)
Store room not accessed

Total : 647 sq ft (60.01 sq m)

Whole Building : 934 sq ft (86.77 sq m)

Rating:

The VOA website advises the rateable value for 2023/24 for 48 Tontine Street is £4,000 and for 50 Tontine Street is £5,200. 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:

Freehold subject to leases in place.

48 Tontine Street has a lease until 4th January 2026 and is currently paying £5,400 per annum
50 Tontine Street has a lease until 14th August 2028 and is currently let at £6,000 per annum.

Proof of Identity:

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.

Viewing:

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.

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.