The property comprises a high yielding bank investment situated in the centre of Hanley.

Arranged across basement, ground and three upper floors, the property is let in its entirety to Bank of Scotland Plc (trading as Halifax) on a lease expiring 24/11/2028 and paying a rent of £125,000 per annum.

The ground floor is used as a sales area/banking hall, with other floors utilised as a mix of offices, storage and ancillary space. We understand the tenant no longer uses the full space and therefore the property may offer asset management/development potential in the medium term (subject to existing leases and requisite consents).

The tenant have been in occupation under the current lease since 1993 and are an established national bank of undoubted covenant strength.

The property occupies a prominent corner pitch in the centre of Hanley Market Square, which 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 immediately to the north of the property.

The property therefore forms 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.