Withdrawn
Withdrawn Prior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 £23,000 per annum. There is a fixed rental uplift to £25,000 per annum in July 2024 and the Vendor will "Top Up" the rent to this level.
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
New 999 Year Long Leasehold
Tenancy
The property is let to Forbidden Planet (Scotland) Limited on a lease expiring 23/07/2027 and producing £23,000 per annum. The lease has no breaks and a fixed rental uplift to £25,000 per annum in July 2024. The Vendor will "Top Up" the rent to this level from completion.
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