An excellent multi-occupied commercial investment consisting of a detached two storey office building and on-site parking. The current gross income is £70,621.68 pa based on sale and 10 year leaseback of the ground floor nursery in addition to the existing tenants.

Description:

The office building is two storey of steel frame construction with rendered brick elevations under a pitched concrete tile roof. The ground floor is divided into two separate suites. The front suite is fitted to a high standard including suspended ceiling, carpets, curved glazed partitioning, air-conditioning, security alarm, kitchen and toilet facilities.
The rear suite trades as a children's day nursery, fitted to the same high standard with secure access, air-conditioning, kitchen and toilet facilities and fenced external area. The nursery also has use of the small storage shed located to the rear of the property.
The first floor offices have a separate access to the left side of the property frontage with a staircase to the first floor landing. A secure coded door access provides security into the offices. The first floor has been partitioned to create four office suites with shared toilet and kitchen facilities. There is a second internal access to the ground floor used as a fire escape. All the suites benefit from suspended ceiling, carpet tiles, perimeter trunking and central heating.

Rating:

The VOA website advises the rateable value for 2024/25 is in the process of being reconfigured. Previous information is available on https://www.tax.service.gov.uk/business-rates-find.
The standard non-domestic business rates multiplier is 54.6p. 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.

Tenancies:

Entigy: 2 year rolling contract which commenced 1st August 2024 at a rate of £12,196.68 per annum ex VAT
Utilities share: 25%

Bema: 6 years which commenced 30th October 2023 and expires 29th October 2029 at a rate of £28,425 ex VAT per annum from 29th October 2024, with a break clause on 1st November, 2026
Utilities share: 35%

Little Steps will be a 10 year lease to commence on completion, at a rate of £30,000 per annum ex VAT with 3 yearly break clauses and 2 yearly rent reviews.
Utilities share: 40%

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.