Land for sale

Features and description

Rooms

Description
The property is a 4 storey building (including roof terrace ) which has been most recently used as a Sheesha Lounge and Bar / Club. The property has been vacant since Covid.

Location
The property is located fronting Brunswick Street, in the Cultural Quarter of Stoke-on-Trent city centre (Hanley). Close to Portofinos Italian Restaurant and the Sugar Mill.

Planning & Supporting Information
The current owner has prepared a full set of plans for conversion of the whole building into 13 Apartments and has an e-mail from the Planning Department confirming that that in principle this change of use would be acceptable. Full details are in the Info Pack. Notwithstanding the above, it is important that prospective purchasers ensure they have inspected the property and rely upon their own enquiries, assessments and due diligence with regards to current and potential uses for the property.

Potential Rental Income
Based on 12 x one bed apartments and 1 x 2 bed apartment and a monthly rent in the range £550 - £700 pcm the estimated annual rent is in the order of £96,000 per annum. See the Info Pack for further details.

Business Rates
The Valuation List currently has the property listed as follows: - Basement & Ground Floor - Storage & Premises - Rateable Value: £2,800 - Crystal Lounge - Club & Premises - removed from the Rating List For further information see;

Tenure
Freehold with vacant possession upon completion.

VAT
All prices quoted by Butters John Bee are exclusive of VAT unless otherwise stated. All interested parties should make their own enquiries to satisfy themselves with the VAT position.

Common Auction Conditions
This property is sold subject to our Common Auction Conditions (a copy is available on request).

Buyers Admin Fee
A buyers administration fee of £1,800 including VAT is applicable to this lot. The purchaser will pay the fee whether the property is bought before, at or following the auction date.

Legal Pack
Purchasing a property at auction is a firm commitment that carries the same legal implications as a signed contract by private treaty. It is important that you consult with your legal adviser before bidding and also your accountant regarding the impact of VAT, if applicable, on the sale price. The legal pack can be viewed online via our website . Legal packs can also be viewed at the selling office. These documents should be passed to your legal adviser as they will help you make an informed decision about the lot. If you need further legal information please contact the vendor's solicitor whose details will be in the auction catalogue. Remember that you buy subject to all documentation and terms of contract whether or not you have read them.

Addendum
Check the latest addendum at buttersjohnbee.com for any alterations or changes to the catalogue.

Legal Costs
Please refer to the auction pack in respect of any legal fees or search fees which may be due upon exchange or completion.

Deposit
Please note that a deposit of 10% of the purchase price (Min £3,000) will be due on Exchange of Contracts, whether the land / property is sold prior to Auction, in the Auction room or after the Auction.

Viewings
By Appointment with the BJB Land & New Homes Team

Disclaimer
Butters John Bee Estate Agents also offer a professional, ARLA accredited Lettings and Management Service. If you are considering purchasing your property in order to rent, are looking at buy to let or would like a free review of your current portfolio then please call the Lettings Branch Manager on the number shown above. Butters John Bee Estate Agents is the seller's agent for this property. Your conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. We make detailed enquiries of the seller to ensure the information provided is as accurate as possible. Please inform us if you become aware of any information being inaccurate.