Property Details

Market Square, Stoke-On-Trent£750,000 plus vat

Sold STCKeates - 01782 84708300004052

Potential Income of £70,000 per annum
Highly prominent corner unit fronting intu’s Potteries Shopping Centre
Currently producing £45,000 pa
High footfall
Located adjacent to TUI and Greggs

Part let retail investment opportunity producing £45000 p an with a potential income of £70,000 p an. Two prime retail units opposite the main entrance to the Potteries Shopping centre with nearby occupiers including Boots, Primark and Marks & Spencer's. The vacant unit is understood to have A1 planning consent. The accommodation is approximately 2,080 sq ft over three floors with the ground floor retail space being 716 sq ft and a similar sized area at first floor level. The Vacant unit is currently being advertised at ban asking rent of £25,000 p an and has so far generated strong intertest. The unit occupied by Greggs is let out on a ten-year lease from13th September 2017 at a rent of £45,000 p a with a tenant break option deferred by deed to 13tyh September 2025 there is a five-month rent free period from October 2020.

Location
The property occupies a highly prominent corner position directly opposite intu’s 630,000 sq ft Potteries Shopping Centre, which has an annual footfall of 12 million, and has attracted quality names such as Superdry, JD, H&M, Beaverbrooks and Pandora. The subject properties are located amongst household names such as Primark, M&S, TK Maxx, Boots, Poundland, Greggs and TUI Travel
Accommodation
We understand the property provides for the following areas: Vacant Unit: Ground floor Retail: 63.38 sqm / 736 sqft Basement Anc. 4.8sqm / 52sqft First Floor Anc. 57.23sqm / 616 sqft Second Floor Anc. 62.80sqm / 676sqft Total 193.21 sqm/ 2080 sqft
Freehold
Asking price of £750,000 plus Vat. The vendor would also consider splitting selling each unit separately.
Planning
We understand that the property currently benefits from A1 use class. A planning application has been lodged to vary consent to allow for A5 uses class re takeway and coffee shop. (This information is given for guidance purposes only and prospective tenants are advised to make thier own enquires to. The Planning Department of Stoke City Council.

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