High Yielding Retail Investment Let to a Longstanding Tenant (in occupation since 2004) Producing £25,000 per annum - Expiring 23/07/2027 with No Breaks
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.