Commercial property for sale in Upper Brook Street, Rugeley WS15

An attractive town centre investment comprising a three storey property in the heart of Rugeley, Staffordshire. The ground floor is let to a longstanding commercial operator 'Craigs Carpets' on a new 5 year lease at £16,000 pa, whilst the flats which have there own independent access are let on Assured Shorthold Tenancies and producing £25,800 pa. Total Rental income of £41,800 per annum.

Description

An attractive town centre investment comprising a three storey property in the heart of Rugeley, Staffordshire. The ground floor is let to a longstanding commercial operator 'Craigs Carpets' on a new 5 year lease at £16,000 pa, whilst the flats which have there own independent access are let on Assured Shorthold Tenancies and producing £25,800 pa. The property was extended 12 years ago creating a much larger first floor area, this has resulted in two, two bedroomed flats, with two, one bedroom flats occupying the second floor area. For a breakdown on Tenancies please refer to 'Tenure'. Rental income of £41,800 per annum

Location

The property is situated on Upper Brook Street in the centre of Rugeley. Car Parking is available to the rear within the Brewery Shopping Centre car park or a little further back at Argos and Home & Bargains. Sat Nav users should input post code WS15 2SP to locate the property.

Accommodation

Ground floor*:
Sales Area: 668 Sq ft (62.1 Sq m)
Staff Area/WC

*Measurements taken from voa

first floor: **
Flat A: 743 Sq ft (69.00 Sq m)
Living Room, 2 x Bedrooms, Kitchen, Bathroom

Flat B: 592 Sq ft (55.00 Sq m)
Living Room, 2 x Bedrooms, Kitchen, Bathroom

second floor:
Flat C: 614 Sq ft (57.00 Sq m)
Living Room, 1 x Bedroom, Kitchen, Bathroom

Flat D: 420 Sq ft (39.00 Sq m)
Living Room, 1 x Bedroom, Kitchen, Bathroom

** Measurements provided by Client

Services

All mains services are available subject to any reconnection which may be necessary.

We have been advised that all services are separate and that each flat has gas central heating served by a combi boilers.

Rating

Ground floor:

The voa website advises the rateable value for 2024/25 is £9,300. The standard non-domestic business rates multiplier is 54.6p. The small business multiplier is 49.9p up to a rateable value of £50,999. Small Business may benefit for upto100% on premises with a rateable value of up to £12,000 and a tapered relief for rateable values between £12,000 and £15,000.

Bjb recommends interested parties make their own enquiries into the business rate payable any further business rate relief which may be available.

Council Tax Banding:

First and second floors

Planning

Bjb recommend that potential occupiers make their own enquiries to the local authority in order to satisfy themselves that their proposed use is authorised in planning terms.

Tenure - Freehold

Freehold subject to the following Tenancies:

Ground Floor: Let to Craigs Carpets Ltd by way of a new 5 year lease incorporating 3 year Tenants break option at £16,000 pa. This lease is a renewal of a previous lease from January 2022 at the same rent.

Flats a-d: All let on Assured Shorthold Tenancies on 6 month agreements, rolling over. The residential area is managed by a local letting agent.

Copies of leases are available to Bona Fide interested parties who have submitted an acceptable offer (Subject to contract).

Epc

Energy Performance Certificate details:

Commercial: B(45) - exp

Flat A: D (60)
Flat B: D (60)
Flat C: D (62)
Flat D: D (61)

Legal Costs - Sale

Each party is responsible for their own legal costs in respect of the sale of this premises.

Proof Of Identity

To comply with Money Laundering Regulations, on acceptance of an offer for purchase or letting, the buyer or prospective tenant will be required to provide identification to Butters John Bee.

Vat

We have been advised Vat is not applicable to this property.

Viewing

Strictly by appointment via bjb commercial, Suite 1, Albion House, No.2 Etruria Office Village, Forge Lane, Festival Park, Stoke-on-Trent, ST1 5RQ
Telephone . Opening hours are 9.00-5.30pm, Monday to Friday.