Acquired
Newcastle-under-Lyme – Charity Shop
55A Ironmarket, Newcastle-under-Lyme, Staffordshire ST5 1PEFreehold Retail Investment
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
2y 4m
Area
1,980 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises ground floor shop with ancillary accommodation above
- Occupiers nearby including Halifax, Cafe Nero, Ryman Stationery and New Look, amongst other retailers.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property comprises mid-terrace ground floor shop with ancillary accommodation at first and second floor, providing the following accommodation and dimensions:
Ground Floor: Shop 103.40 sq m (1,113 sq ft)
First Floor: Ancillary 39.40 sq m (424 sq ft)
Second Floor: Ancillary 41.20 sq m (443 sq ft)
Total area size: 184.00 sq m (1,980 sq ft)
Ground Floor: Shop 103.40 sq m (1,113 sq ft)
First Floor: Ancillary 39.40 sq m (424 sq ft)
Second Floor: Ancillary 41.20 sq m (443 sq ft)
Total area size: 184.00 sq m (1,980 sq ft)
Tenancy Description
The property is at present let to The People`s Dispensary for Sick Animals for a term of 5 years from 11th May 2022 at a current rent of £14,000 per annum and the lease contains full repairing and insuring covenants. Rent for years 1 and 2 at £11,000 p.a. Rent for years 3 and 4 at £14,000 p.a. Rent for year 5 at £17,000 p.a. Vendor will top up rent so buyer receives the equivalent of £14,000 p.a. upon completion. Tenant option to determine on 11.05.2025 with minimum 6 months notice.
Tenancies & Accommodation
Location Description
Newcastle-under-Lyme is a market town and the administrative centre of the Borough of Newcastle-under-Lyme in Staffordshire, England. The town is served by the M6 motorway to the south and west of Newcastle and by the A500 road to the north and east. There are access points from the M6 at junctions 15 and 16, to the south and north respectively. The A34 trunk road runs through Newcastle from north to south and was the main road between Birmingham and Manchester until the M6 motorway opened. There is a large bus station in the town centre. The property is located in the town centre with occupiers nearby including Halifax, Cafe Nero, Ryman Stationery and New Look, amongst other retailers.