74-74B High St
1,855 SF 100% Leased Retail Building Stoke On Trent ST10 1AJ £265,000 (£142.86/SF) 9.81% Net Initial Yield
INVESTMENT HIGHLIGHTS
- The property is situated in the centre of Cheadle on High Street.
- The property consists of two commercial areas on the ground floor that are both occupied
- There is on street car parking to the front of the property and Cheadle's main pay and display car park is a short walk away
EXECUTIVE SUMMARY
The premises are fully let yielding a rental income of £25,990 pa; a schedule of tenancies can be seen under paragraph 'Tenure'.
Freehold subject to the following Tenancies:
74 High Street A six year lease from 01/06/24, ending 31/05/30. Rent £7,200 pa
74B High Street A three year lease from 15/11/24, ending on 14/11/27. Rent £2,950 pa
Flats: Flat 1 74 High Street - Tenancy from 26th May 2023 until 25th May 2024. Rent £300 pcm
Flat 2 74 High Street - Tenancy from 15th December 2023 until 14th December 2024. Rent
£495 pcm
Flat 3, 74 High Street - Tenancy from 4th January 2024 until 3rd January 2025. Rent £525 pcm
Freehold subject to the following Tenancies:
74 High Street A six year lease from 01/06/24, ending 31/05/30. Rent £7,200 pa
74B High Street A three year lease from 15/11/24, ending on 14/11/27. Rent £2,950 pa
Flats: Flat 1 74 High Street - Tenancy from 26th May 2023 until 25th May 2024. Rent £300 pcm
Flat 2 74 High Street - Tenancy from 15th December 2023 until 14th December 2024. Rent
£495 pcm
Flat 3, 74 High Street - Tenancy from 4th January 2024 until 3rd January 2025. Rent £525 pcm
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
1,855 SF
Building Class
B
Year Built
1911
Price
£265,000
Price Per SF
£142.86
Net Initial Yield
9.81%
NOI
£25,990
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
0.59
Lot Size
0.07 AC
Frontage
17 ft on High Street
AMENITIES
- EPC - E
- Storage Space
1 of 1
NEARBY MAJOR RETAILERS
