No bars, no signal predictedOne bar, reliable signal unlikelyTwo bars, may experience problems with connectivityThree bars, likely to have good coverage and receive a data rate to support basic web servicesFull bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
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This property is no longer on the market

Frontage
GF seating area
GF seating area

Industrial development

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Industrial development
0 bed
0 bath
1,375 sq ft / 128 sq m

Property description & features

  • Tenure: Freehold
  • Town centre single let investment opportunity
  • Business Not Affected
  • Lease renewed from 9th August 2024
  • Stepped rent
  • Excellent location in Hanley Cultural Quarter
  • Close proximity to The Regent Theatre
The property is a well maintained two storey mid-terrace building which has been fully refurbished over recent years including new flooring, new shop frontage and re-wired. Furthermore, the tenant has transformed the premises into a restaurant & bar with ground floor customer area, 2 x WCs and storage. The first floor provides for a commercial kitchen, preparation area, storage and office.

The property is freehold and lease renewal completed on the following terms:
- Tenant: Blooms Bar Limited
- Renewal Lease dated 2nd February 2024, for a term of 4 years from 9th August 2024.
- Full repairing and inuring basis.
- Stepped rent of £13,500 until 9th August 2024, £14,000 pa until 8th August 2025 and £15,000 pa thereafter.
- Tenant option to determine 8th August 2026, subject to 6 months prior notice.
- Rent deposit held for the lease duration.

£185,000 plus VAT, representing a Net Initial Yield of 7.98% based upon the full rent, assuming purchaser’s costs of 1.61%.
The sale may be treated as a Transfer of Going Concern.

The property is located centrally on Piccadilly, with a range of surrounding occupiers including retail, professional offices, cafes and restaurants. Piccadilly is located within the Cultural Quarter with The Mitchell Arts Centre, Potteries Museum & Art Gallery and the Regent Theatre all within close vicinity.
Hanley Bus Station is only 0.3 mile from the property and Stoke-on-Trent Railway Station is 1.3 miles.

The accommodation comprises the following areas:

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    OnTheMarket may have applied supplementary data to this property listing, including:

    Broadband availability and predicted speed

    Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:

    Basic: Up to 30 Mbit/s
    Super-fast: Between 30 Mbit/s and 300 Mbit/s
    Ultra-fast: Over 300 Mbit/s

    The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2

    Mobile phone signal availability and predicted strength

    Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:

    Clear: No bars, no signal predicted
    Red: One bar, reliable signal unlikely
    Amber: Two bars, may experience problems with connectivity
    Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
    Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services

    Energy Performance data and Internal floor area

    Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.

    *Call rate information

    Calls to 0843 numbers will be charged at 4p/min from BT landlines. Calls from other networks may vary, and calls from mobiles and outside the UK will be higher. Calls to local numbers beginning with 01, 02 and 03 numbers will incur standard geographic charges from landlines and mobiles.