•Asking Price: £100,000
•Mixed use investment opportunity
•Sold with vacant possession
•Total approx. 126 Sq. M (1,361 Sq. Ft)
This mixed-use terrace property comprises spacious accommodation arranged over two storeys and would lend its self to a variety of different uses subject to the necessary planning consents. There is large bay window to the front elevation and UPVC door into a shared hall way for the salon and first floor flat.
The ground floor accommodation constitutes a hairdressing salon, including waiting area, cash desk and seven cutting stations and two washing stations to the main shop floor. In addition there are two customer WC’s and a utility/ kitchenette room at the rear.
The first floor comprises a one bedroom self-contained flat. Accommodation includes spacious lounge with carpeting and archway leading to the kitchen. The kitchen includes a range of fitted units with additional space for appliances, stainless steel sink and splashback tiles. Off the kitchen there is a fitted shower cubicle with glass door leading to the bathroom, comprising three-piece suit and part tiled walls. The bedroom benefits a spacious closet/dressing area and two large windows fronting Birches Head Road.
Externally, the property benefits a low maintenance rear yard with gated access out to the rear. There is also on street parking available within the vicinity and a bus stop directly outside which runs in to Hanley town centre.
Salon floor – 9.85m x 4.19m
Waiting area – 2.89m x 4.12m
Utility – 2.97m x 2.30m
Lounge – 5.24m x 4.34m (max)
Kitchen – 2.86m x 2.89m
Bedroom – 2.82m x 4.82m
Bathroom – 2.20m x 2.09m
Total = 126.49 Sq. M (1,361 Sq. Ft)
The property is to be sold with vacant possession. However, we believe the ground floor shop is likely to achieve £500 pcm (£6,000 per annum). The flat is likely to let at £400 pcm (£4,800 per annum) following some cosmetic improvements. This totals a potential income of £10,800 per annum, representing a potential gross yield of 10.8% based on the asking price.
The property also offers excellent potential to add capital value with scope for redevelopment. The property could be converted into one house enjoying all accommodation over the two storeys. Alternatively, the ground floor retail unit could be converted into another flat (STP).
We understand the property to have mains gas, electricity, water and drainage. However, interested parties are advised to make their own enquiries.
The flat is rated in Council Tax Band A. Council Tax band payable for 2019/2020 is £1,065.
The property has a current rateable value of £4,050.
Viewings strictly by appointment only. Please contact a member of John Pye Property on 0115 970 6060 or email email@example.com to arrange an appointment.
A Buyer’s Premium of 1% (min. £900) inc. VAT is payable on top of the purchase price. Please take in to account when offering on a property.