17 & 17a St. Edward Street, Leek, Staffordshire, ST13 5DR
The property is prominently situated on the corner of St Edward Street and High Street in the traditional and thriving market town of Leek. There are a number of national and independent retailers within the Town Centre whilst the Peak District National Park sits on the doorstep. Stoke City Centre is located approximately 12 miles to the south with Manchester approximately 35 miles to the north.
An imposing and substantial Town Centre property comprising a ground floor retail unit currently let to Domino's Pizza on a 20 year lease (dated March 17) and residential upper floors which have been converted to provide HMO accommodation and a one bedroom flat. The property is tenanted and produces a significant amount of rental income which we are informed is equivalent to £71,480 per annum.
The ground floor is let to Domino's on a 20 year lease dated 24th March 2017 due to expire on 23rd March 2037 and producing approximately £20,000 per annum. We understand there is the option of a break clause in 2027. The upper floors are let on a HMO's basis and producing approximately £60,000 per annum.
The rateable value for the ground and basement floors is listed on the VOA office as being £11,500 with effect from May 2017.
Energy Performance Certificate (17a) = D
The property is sold subject to the current tenancy information listed in the tenancy schedule which equates to an annual income of £71,480.
ST13 5DR Open in Google Maps
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