Auction:
Monday 25th November, 6:30pm
Brunswick Street, Stoke on Trent ST1 1DR
0.07 ac
5511 sq ft
Auction:
Monday 25th November, 6:30pm
Brunswick Street, Stoke on Trent ST1 1DR
0.07 ac
5511 sq ft
The property is a 4 storey building (including roof terrace ) which has been most recently used as a Sheesha Lounge and Bar / Club. The property has been vacant since Covid.
The property is located fronting Brunswick Street, in the Cultural Quarter of Stoke-on-Trent city centre (Hanley). Close to Portofinos Italian Restaurant and the Sugar Mill.
Freehold with vacant possession upon completion.
All prices quoted by Butters John Bee are exclusive of VAT unless otherwise stated. All interested parties should make their own enquiries to satisfy themselves with the VAT position.
This property is sold subject to our Common Auction Conditions (a copy is available on request).
A buyers administration fee of £1,000 plus VAT is applicable to this lot. The purchaser will pay the fee whether the property is bought before, at or following the auction date.
Description
City Centre Building with potential conversion to 13 apartments
Potential Investment Income £96,000 per annum
For Sale By Auction at 6.30pm on Monday 25th November 2024
at the Double Tree By Hilton Hotel, Festival Park, Stoke on Trent, ST1 5BQ
Contact the Auction Team to Register: 0800 090 2200 or auction@bjbmail.com
Planning & Supporting Information.:
The current owner has prepared a full set of plans for conversion of the whole building into 13 Apartments and has an e-mail from the Planning Department confirming that that in principle this change of use would be acceptable. Full details are in the Info Pack.
Notwithstanding the above, it is important that prospective purchasers ensure they have inspected the property and rely upon their own enquiries, assessments and due diligence with regards to current and potential uses for the property.
Potential Rental Income:
Based on 12 x one bed apartments and 1 x 2 bed apartment and a monthly rent in the range £550 - £700 pcm the estimated annual rent is in the order of £96,000 per annum. See the Info Pack for further details.
Business Rates:
The Valuation List currently has the property listed as follows:
- Basement & Ground Floor - Storage & Premises - Rateable Value: £2,800
- Crystal Lounge - Club & Premises - removed from the Rating List
For further information see; https://www.gov.uk/find-business-rates
Pre-Auction Offers.:
Any pre-Auction offers should be submitted via e-mail to residential-land@bjbmail.com. All offers will be forwarded to the client for consideration, but please be aware that the majority of clients prefer to let the marketing run for a period, prior to giving serious consideration to accepting any pre-Auction offer.
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 and Proxy Bidding:
We are pleased to announce that we are now back in the Auction room at the Double Tree Hilton Hotel (Moat House). However, we also have the other bidding options available: On-Line / Telephone / By-Proxy. You will need to register in advance and provide two forms of ID. Register at www.buttersjohnbee.com/auction or contact the Auction Team on 0800 090 2200 or auction@bjbmail.com.
Deposit:
Please note that a deposit of 10% of the purchase price (Min £3,000) will be due on Exchange of Contracts, whether the land / property is sold prior to Auction, in the Auction room or after the Auction.
Looking for Land & Development Opportunities?:
Please note that not all land & development opportunities will appear on our website. To ensure that you do not miss out on these opportunities please e-mail: residential-land@bjbmail.com or call the Land & New Homes team to discuss your requirements.
Disclaimer
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.
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