For Sale - 3b - 7 High Street, Stone, Staffordshire, ST15 8AJ

£675,000

Property Summary

Property Description

•Investment For Sale •Two Shops and 10 Flats •Designated parking at the rear for 16 cars •Town Centre location •Estimated full rental value £58,370 per annum •EPCs available on request

Property Full Details

LOCATION
The property is situated in the town centre of Stone at the junction of High Street with Stafford Street. The entrance to the car park is off Church Street. The shops have a prominent frontage to a busy road junction and the flats are approached from the car park via Church Street.

DESCRIPTION
The property comprises two ground floor retail shops with ten flats on the two upper floors at the front and over three floors at the rear. The shops are currently let as a pharmacy and a men’s barber shop. The flats comprise 1 two bedroom flat, 6 one bedroom and 3 bed-sitting rooms.

The shop and flats over 5-7 High Street are Grade II Listed.

ACCOMMODATION
Tenure
The property is of freehold Tenure and includes the land shown approximately edged red on the plan attached. Shop no.3 which is a ground floor lockup shop is not included as part of the property.

The current rent received for the let properties as at the 7th March 2018 is £44,450 for the two shops and seven of the flats. Two of the flats are vacant and it is estimated that the full rental value of the whole property is in the region of £57,950 per annum. The tenancy details and rents change from time to time and prospective buyers will be given up to date information at the time of enquiry.

The shops are let on business tenancies, shop 3B is let for a term of 7 years, 7 months from the 30th May 2016 and the lease for shop 5-7 expires on the 14th April 2018. The tenant has indicated that they will be relocating. The flats are let on Assured Shorthold Tenancies.

SERVICES
We understand that mains water, electricity and drainage services are connected to the property.

OUTGOINGS
Business Rates
The property known as 5-7 High Street has a rateable value of £11,500 and the shop at 3B has a rating of £4,350 on the 2017 listing.

Council Tax
The flats and bedsits are listed as being council tax Band A on the VOA website.

VIEWING
Strictly by prior appointment with the sole agent, Barbers:
Tel: 01952 221220
Email: commercial@barbers-online.co.uk
1 Church Street
Wellington
Telford
Shropshire
TF1 1DD