Commercial development for sale
Property description & features
- Investment property consisting of 1 x commercial unit and 2 x flats
- Two thirds occupied with 1st floor flat recently vacated
- Asset management opportunity with flats rented below rental value
- Total NIA: 1,316 sq ft
- EPC: All units are Band D
A period property of brick elevations and tiled pitched roof forming part of a terrace of mixed use properties inthe centre of Milton. The building is being sold as an investment opportunity with the ground floor currently rented to Susans Deli, a popular café/deli who have been in occupation for 2 years. The flats above the café are accessed separately via their own private entrance at the front of the
building with stairs leading to the first and second floor. The first floor flat, (no: 35) has two bedrooms, an open plan kitchen/lounge and bathroom and with an element of updating should achieve a rent of £600 pcm. The second floor flat, (No: 37) has one bedroom, a lounge, kitchen and bathroom and is let at £380 pcm but has the potential to be £500pcm with some refurbishment work. The agents estimate that fully let at market rent the building could provide an income of c£19,000pa. The property benefits from UPVC double glazing and independent gas central heating.
Location - The property is pavement fronted and occupies a prominent location in the centre of Milton, close to a large free car park and forms part of a popular parade of mixed-use retail properties. Milton is a semi-rural settlement adjacent to Baddeley Green and approx. 4 miles to the north of Hanley and 7 miles southwest of Leek.
Services - All main services are connected. No services have been tested by the agents. Each property is separately metered.
Vat - The sale price is not subject to VAT
Tenure - Available freehold, subject to contract and with the benefit of the existing IRI lease and AST.
Business Rates/Council Tax - Rateable Value: £5,400 The tenant is responsible for payment of any business rate liability where applicable. 35 and 37 Millrise Road are both: Band A.
Tenancy Details - The ground floor is let to an individual T/A Susans Deli at £5,750pa on an IRI lease from 3rd January 2022 for 4 years. Copy of the lease available upon request.
Accommodation - Number 33
Ground floor commercial unit 460 sq ft
Number 35
First floor 2 bedroom flat 439 sq ft
Number 37
Second floor 1 bedroom flat 417 sq ft (individual room measurements are available on request)
Total NIA: 1,316 sq ft
Anti Money Laundering Regulations - In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the
responsibility of the applicant. Where appropriate we will also need to see proof of funds.
Property information from this agent
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 33064758. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Rory Mack Associates - Holly House.
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.