Prominent ground floor retail premises with basement area located within the heart of Hanley Town Centre providing an excellent trading location.

Description:

A fully let investment property within Hanley Town Centre which also benefits from residential planning permission for change of use to four self contained apartments on the first and second floor. The upper floors are currently let by way of a 6 year IRI lease, having been renewed in 2025 and due to expire 14th November 2031. The ground floor and basement at 1 Piccadilly and 2 Market Lane are all let to the same tenant by way of a 10 year IRI lease due to expire on 31st May 2035. The current income is £32,200 per annum being £17,200 from the ground floor and 2 Market Lane and £15,000 from the first and second floors.

Location:

The property is situated within the pedestrianised area of Hanley Town Centre Conservation Area at the junction with Fountain Square and adjoining Tontine Square. The property is also within a short distance from the Intu Potteries Shopping Centre, as well as being a main link between Piccadilly and the city centre. Other occupiers in the immediate vicinity include Specsavers Opticians, Lloyd's TSB and HSBC.

Accommodation:

The following measurements were taken prior to the tenants taking occupation.

1 Piccadilly
Net frontage: 5.6m
Retail depth: 7.58m
Sales area: 42.60 sq m (458 sq ft)
Preparation area: 22.80 sq m (245 sq ft)
Office: 12.10 Sq m (130 sq ft)
Basement: 43.97 sq m (473 sq ft)

Paragraph:

2 Market Lane
Ground floor front : 409 sq ft (38.02 sq m)
Rear Kitchen area (inc stairs) : 142 sq ft (13.19 sq m)
Basement : 459 sq ft (42.62 sq m)

1 Piccadilly (first & second floors)
First floor offices: 124.66 sq m (1,277 sq ft)
Second floor offices: 112.06 sq m (1,206 sq ft)

Planning:

Bjb recommend that potential occupiers make their own enquiries to the local authority in order to satisfy themselves that their proposed use is authorised in planning terms.
The planning reference for the residential conversion is 25/FUL/00555.

Rating:

The VOA website advises the rateable value for the ground floor at 1 Piccadilly from the 1st April 2026 is £12,500.
The VOA website advises the rateable value for the first floor at 1 Piccadilly from the 1st April 2026 is £9,300.
The VOA website advises the rateable value for the second floor at 1 Piccadilly from the 1st April 2026 is £6,700.
The VOA website advises the rateable value for the 2 Market Lane from the 1st April 2026 is £4,600.

The standard non-domestic business rates multiplier is 48.0 p. The small business multiplier is 43.2 p up to a rateable value of £50,999. Small Business may benefit for up to 100% 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 existing leases as follows;

Ground floor, basement at 1 Piccadilly and 2 Market Lane - 10 year IRI lease from 1st June 2025 to 31st May 2035. Tenant only break at 18th June 2030 and rent review at 1st June 2030.
First and second floors - IRI lease renewed 26th March 2025 to 14th November 2031 with a rent review at 15th November 2028.

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.