Home > Auctions > 21 & 22 October 2025 21 October 2025 - 9:00am > Lot 277

21 & 22 October 2025: Tuesday 21 October 2025 - 9:00am
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    Key features

    • To be offered on Wednesday 22 October
    • High Yielding Convenience Store Investment
    • Let on a New 15 Year Lease
    • Renewal of Existing Tenancy
    • Prime Corner Pitch
    • Investment let at £25,000 pa (15.63% GIY)

    Description

    The property comprises a high yielding convenience store investment forming part of a popular local parade. Arranged across ground and first floors, the ground floor is let on a new 15 year lease to a private individual trading as a convenience store. The lease is a renewal of an existing tenancy and is currently paying a rent of £18,000 per annum. There is a fixed uplift in 2026 to £25,000 and the vendor will "top up" the rent to this level. The first floor accommodation includes kitchen, bathroom and three rooms, we consider there may be potential for conversion to alternative uses, including residential (subject to existing leases and any requisite consents).

    Additional information

    Tenure

    999 years from 7 August 2024 at a peppercorn rent.

    Accommodation

    Please note the approximate areas have been provided by the VOA/Vendor/EPC and the property has not been internally inspected by Savills. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site.


    Ground - 40.70 sq m (438 sq ft)

    First - Kitchen, bathroom and three rooms



    Tenancy

    The property is let on a new 15 year lease from 20.05.2024 to a private individual trading as a convenience store. The lease is a renewal of an existing tenancy and is currently paying a rent of £18,000 per annum. The lease includes a fixed uplift to £25,000 per annum in 2026 and the Vendor will "top up" the rent to this level. The lease is on full repairing and insuring terms and includes a tenant break option in the seventh year.

    Planning

    Whilst there are no extant planning consents, we understand the first floor accommodation includes kitchen, bathroom and three rooms, we consider there may be potential for conversion to alternative uses, including residential (subject to existing leases and any requisite consents).

    Rent

    £25,000 pa

    Notes

    We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).

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        Local information

        The property benefits from a prominent frontage to Stafford Street, one of the principal retail streets in Stoke-on-Trent. The area is the focal point for the first phase of Hanley town centre redevelopment. This included the resurfacing and pedestrianisation of the surrounding roads, with the second phase of the regeneration including a £20m levelling up fund award for the provision of a comprehensive mixed-use development immediately to the south. The Potteries Shopping Centre is to the north of the property, whilst the two adjacent streets form the main pedestrian routes between the Market Square and Stafford Street. The property therefore forms part of the epicentre of the retail and leisure offering in the town and experiences high levels of footfall, local occupiers include Primark, KFC, Boots, and TK Maxx.

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        EPC rating

        If no EPC rating appears please refer to the legal pack.

        Guide prices and common auction conditions

        •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

        •The reserve price is the minimum price at which the property can be sold.

        •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

        •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

        Please note that all prices listed, whether prior to or post auction, are subject to contract.

        The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

        The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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