15 - 23 Percy Street, Stoke-On-Trent, Staffordshire ST1 1NA

An investment opportunity comprising of four units fronting Percy Street within a parade of shops located on the ground floor of a four storey period building centrally located in Hanley centre, along with the freehold interest of the upper floors which were previously sold on a long lease. Total current income £29,000pa.

Number 15 Percy Street is a well established tea rooms extending to circa 1,984 sq.ft on the ground floor and extensive basement which runs beneath the other units being offered within this portfolio. The unit benefits from a fitted commercial kitchen, wc and seating finished to a high standard internally.

Number 17 Percy Street extends to approximately 500 sq.ft (we are advised) and is a well-established Jewellers. The unit boasts two rooms at the first floor which is used as a work shop, accessed from inside the shop and has a roller shutter, there is scope to increase the rent.

Number 19 Percy Street is a Barbers shop which is finished to a high standard internally and is well established. We feel there is scope to increase the rent inline with the current market.

Number 21 Percy Street is trading as a mobile phone repair shop.

Number 23 Percy Street has been sold on a long leasehold.

Tenancy Details
Number 15 Percy Street held on a new three year lease with rent passing £8400pa
Number 17 Percy Street is held on a rolling basis paying £8,000 per annum.
Number 19 Percy Street is held on a rolling basis paying £7,800 per annum.
Number 21 Percy Street on a new 5 year lease paying £4800pa

Interested parties are advised to inspect the legal pack for more information.

Location
The units are located along Percy Street close to the junction with Stafford Lane and Piccadilly, a prime shopping area which has undergone a large regeneration scheme within recent years. The units benefit from a large amount of passing trade.

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non-refundable auctioneers fees apply, and are payable immediately upon exchange of contracts:

• 5% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 3.6% inc. VAT of the purchase price (subject to a minimum of £6,000 inc. VAT)

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.