Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment forming part of a popular local parade
Arranged across ground and first floors, the property is fully let to Forbidden Planet (Scotland) Limited on a lease expiring 23/07/2027 and producing £25,000 per annum. Further rental increase potential via renewal with the current market
trend.
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.
Tenure
Long Leasehold. 999 years from 5 June 2024.
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.
Tenancy
The property is let to Forbidden Planet (Scotland) Limited on a lease expiring 23/07/2027 and producing £25,000 per annum (no breaks).
The lease is on full repairing and insuring terms and has been renewed twice since the tenants original occupation in 2004.
Forbidden Planet are an established national retailer of toys, collectables, comics and memorabilia. Founded in 1975, the business trades from 17 stores nationwide and has a significant online presence.
Rent
Notes
We understand the property is elected for VAT. There is a potential for the sale to be treated as a Transfer of a Going Concern (TOGC).