136 Waterloo Road, Stoke On Trent, ST6

Location

The property is located on Waterloo Road (A50) within a terrace of similar commercial premises in the mixed commercial area of Burslem approximately 1.25 miles to northeast of the city centre. Nearby property uses include shops, offices, cafes, licenced, takeaways, industrial, leisure and motor trade premises.

Description

The property comprises an irregular shaped site extending to approximately 250 sq. m upon which there is a traditionally constructed, mid-terrace, two-storey building used as a dental laboratory together with two concrete garages and an area of off-street parking.

The building is arranged over two floors and provides ground floor workshop accommodation and first floor office/staff accommodation.

The property is accessible from the rear from Commercial Street and benefits from two lock-up garages of sectional concrete construction and off-street parking for 2-3 cars.

Accommodation

IPMS-3: 112 sq. m (1,205 sq. ft)

Services

All mains utilities services are understood to be available subject to any reconnection that may be necessary and mains drainage.

Planning

The existing use of the property is assumed to fall within Use Class B1 Business of the Town and Country Planning (Use Classes) Order 1987.

Rating

The property is classified as offices with a 2017 Rateable Value of £5,900. Subject to individual circumstances, the property qualifies for small business rate relief.

Occupation

The entire property is let to an individual trading as ACME Dental Laboratories holding over under the terms of a business lease dated 18 April 2006.

The lease was originally granted for a terms of five years from and including 1 March 2006 at an initial rent of £7,800 per annum exclusive which has been reviewed and is currently £9,600 per annum exclusive. The lease contains internal repairing and insuring covenants.

Tenure

Freehold, subject to the occupational lease.

Energy Performance Certificate

An Energy Performance Certificate has been commissioned.

Price

£90,000 for the freehold which equates 10.67% Gross Initial Yield / 10.48% Net Initial Yield with purchaser's costs of 1.5% plus VAT.

VAT

VAT is not applicable.

Legal Costs

Each party is to be responsible for their own legal costs.

Viewings

Viewing is strictly by appointment with the Sole Agent.