Where is the Investment located?
Cheadle is a popular market Town in the District of Staffordshire, located 10 miles north of Uttoxeter and 11 miles east of Stoke on Trent.
The investment is well positioned in Cheadle Town Centre. The retail units are situated in an elevated position, overlooking the Market Place. The Maisonettes are to the rear and accessed from Prince George Street.
Cheadle's Market, selling a range of food, drink, crafts, clothing and homeware is held every Tuesday, Friday and Saturday. Other surrounding occupiers include Boots plc, W. H. Smith, Post Office and good range of local traders.
What3Word Location: studs.tasters.renting
What does the Investment comprise?
Mixed use investment with parking. Majority let producing £62,150 p.a. ERV £72,000. 4 x self contained shops & 6 Maisonettes (4x three bed & 2x two bed) with fitted kitchen & separate living room. The 3 bed units benefit from an En-suite. Each apartment has a single parking space located on Prince George Street.
How has the Investment been measured?
The floor areas of the shops have been taken from the VOA and are measured NIA. The areas of the apartments have been taken from the EPC certificates. The buyer must satisfy themselves these areas are correct.
Floor |
Sq Ft |
Sq M |
Shop 1 |
1,042 |
96.8 |
Shop 2 |
589 |
54.72 |
Shop 3 |
589 |
54.72 |
Shop 4 |
1,042 |
96.8 |
Apartment 1 - 2 bed |
710 |
65.96 |
Apartment 2 - 3 bed |
793 |
73.67 |
Apartment 3 - 3 bed |
958 |
89 |
Apartment 4 - 3 bed |
915 |
85 |
Apartment 5 - 3 bed |
958 |
89 |
Apartment 6 - 2 bed |
700 |
65.03 |
Total | 8,296 | 771 |
What has the property been used for?
We believe the shops all fall under Class E (Commercial, Business and Service), the apartments are C3 (Residential) of the Town and Country Planning (Use Classes) Order 1987 (as amended) All parties should confirm the planning position with the relevant Local Authority. The property is GII listed (List ID 1374669).
Are there Utilities?
All mains services with the exception of gas are connected to the property. Each unit is separately metered. The agents give no guarantee in respect of connectivity or capacity and interested parties must rely on their own investigations.
What is the Rateable Value?
The ground floor shops are currently listed on VOA.gov.uk with the following assessments;
Shop 1 - £9,300
Shop 2 - £5,200
Shop 3 - £5,200
Shop 4 - £8,300
Subject to status the occupying tenants may be able to claim 100% rates relief. The Mews Houses are each separately assessed for council tax and are Band D.
How is the property offered?
Freehold
Shops 1 - 3 are let on IRI leases expiring Q1 2030. Shop 4 is vacant and on the market to let at £9,900 p.a. The maisonettes are each let to private individuals by way of separate AST's.
How much is the Price?
£800,000 Guide price. All figures are quoted exclusive of VAT, we are advised the commerical element is registered for VAT but subject to qualifying criteria the sale may be treated TOGC.
What is the EPC rating?
Shop 1 - C (67)
Shop 2 - C (74)
Shop 3 - D (85)
Shop 4 - D (93)
Apartment 1 - D (62)
Apartment 2 - C (75)
Apartment 3 - C (74)
Apartment 4 - C (74)
Apartment 5 - C (75)
Apartment 6 - D (64)
What are the viewing arrangements?
Tenants are unaware of the sale. Interested parties should carry out a "secret shop" to inspect the retail areas. A virtual tour is available of Mews House No.2. A physical viewing of the whole will be possible for the preferred purchaser. OMEETO do not take any responsibility for any loss or injury caused whilst carrying out a site visit.