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29 Piccadilly 1,375 sq ft Retail Property Stoke On Trent ST1 1EN £185,000 (£134.55/sq ft) 7.98% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Excellent location in Hanley Cultural Quarter
- Commercial investment opportunity
EXECUTIVE SUMMARY
Commercial Investment. The property is a well maintained two storey mid-terrace building, with ground floor customer area, split level to the bar area, 2 x WCs and storage. The first floor provides for a commercial kitchen, preparation area, storage and office. The property is freehold subject to the existing lease:
Tenant: Blooms Bar Limited (Company No. 12046851).
Renewed Lease dated 2nd February 2024, for a term of 4 years from 9th August 2024.
Full repairing and inuring basis.
Current rent £15,000 pa from 8th August 2025.
Tenant option to determine 8th August 2026, subject to 6 months prior notice.
Rent deposit held for the lease duration.
Tenant: Blooms Bar Limited (Company No. 12046851).
Renewed Lease dated 2nd February 2024, for a term of 4 years from 9th August 2024.
Full repairing and inuring basis.
Current rent £15,000 pa from 8th August 2025.
Tenant option to determine 8th August 2026, subject to 6 months prior notice.
Rent deposit held for the lease duration.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront
Property Size
1,375 sq ft
Costar Property Class
B
Year Built
1900
Price
£185,000
Price per sq ft
£134.55
Yield
7.98%
NOI
£14,763
Tenancy
Single
Number of Floors
2
Frontage
43 ft on Piccadilly
AMENITIES
- Security System
- Storage Space
1 1
NEARBY MAJOR RETAILERS
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29 Piccadilly
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