Retail Property (High Street) in Stoke-on-Trent

22 Piccadilly, Hanley, Stoke-on-Trent, Staffordshire ST1 1DH
  • Lot No: 29A
  • Property Type: Retail Property (High Street)
  • Contract Type: Conditional with Reservation Fee
Hammond Chartered Surveyors

Guide Price* £110,000+ plus fees

Result Sold After Auction

Property Description

Piccadilly is a pedestrianised shopping street linking the Intu Potteries shopping and leisure complex and surrounding pedestrianised shopping streets with the Smithfield business quarter. Piccadilly forms part of the Citys Cultural Quarter and has a a range of national and independent retailers, bars, restaurants and is the location of the Regent Theatre. The property comprises ground floor retail, first and second floor storage extending to approximately 156.60 sq. m. (1,648 sq. ft.) over three floors. The building is arranged with retail area beyond which there is rear stores and toilets. On the first floor and second floor there is open plan storage.

Tenancy Details:

The property is occupied by an individual trading as Piccadilly Minimarket, a convenience store with free cash machine, stocking a range of everyday items such as coffee, groceries, snack foods, confectionery, soft drinks, tobacco products and newspapers. Term: 10 years from 01/07/2017 Rent: £15,600 per annum Full Repairing and Insuring lease terms. The lease is subject to a Deed of Assignment, dated 25 September 2018, the assignee covenants and all terms and conditions contained or referred to are stated in the Lease.


Services

Interested parties are recommended to make their own enquiries. All mains utilities services are understood to be available, subject to any reconnection which may be necessary.


Planning:

The existing permitted use of the property is a Retail (A1 Use Class).


Accommodation:

Ground Floor Retail: 51.60 sq. m (555 sq. ft) First Floor: 52 sq. m (566 sq. ft) Second Floor: 49.00 sq. m (527 sq. ft) NIA: 156.60 sq. m (1,648 sq. ft)


Tenure

Freehold


Auction Method: The auction for this property will take place as an “Auction Event” behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely- please see the below section on “Registration Process”. The auction can be watched in real-time on the auction date, by following the link on our home page: https://www.sdlauctions.co.uk/ The auction date applicable for the property is displayed on this page. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold. You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed. When you place your bid, you are deemed to have agreed to SDL Auctions’ Buyers Terms (England & Wales). Auction Type - Conditional with Reservation Fee If you are the highest bidder when the auction for the property comes to an end, you will enter into a reservation agreement with the seller. You must then pay the applicable reservation fee. You will then have 40 business days within which to exchange contracts and complete the sale, unless the Special Conditions of Sale contained within the legal pack specify a different time limit. If you fail to do so, you may lose your reservation fee. During the 40-business day reservation period, the seller is not able to accept other offers. Auction Fees The following non-refundable fees apply:
  • Reservation Fee- payable immediately when the auction ends. This is calculated as a percentage of the actual purchase price of the property. Either:
(a) 4.8% (including VAT) of the purchase price, for properties up to and including £250,000 (b) 3.6% (including VAT) of the purchase price for properties sold for over £250,000 The Reservation Fee is subject always to a minimum of £6,000 (including VAT). The Reservation Fee does not contribute to the purchase price. Deposit This property is listed under the Conditional with Reservation Fee sale method, therefore the deposit will be payable on exchange of contracts and executed via the solicitors. The amount to be paid will be listed in the Special Conditions of Sale. Payment Method Applicable fees must be paid immediately after a winning bid has been placed. We do not accept payment by cash or cheque. Prior to the auction, we will email you to register your card details with our third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by one of our representatives to make payment. If we cannot make contact with you within 24 hours after the auction ends, we reserve the right to charge your card. Legal Pack Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate. The legal pack can be viewed on this page, under the sub-heading “Legal pack”. Follow this link, and you will then be directed to create an account with Auction Passport to view the documents. The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale. It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding. Special Conditions of Sale The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of SDL Auctions’ terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack. Energy Performance Certificate The EPC for this property can be viewed in full at the top of this page or in the legal pack. Registration Process: To register to bid on the property, you must submit your remote bid here: https://www.sdlauctions.co.uk/remote-telephone-proxy-bidding/. There is also a link to register on the property details page, where you will also be able to find the lot number for the property. Prospective buyers must register no later than 12pm the day before the auction date. If you register after the cut off, it cannot be guaranteed that your registration will be processed. Guide Price & Reserve Price Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Auction Details

Date 12th September 2019

Venue Birmingham Auction
Aston Villa FC, Holte Suite, Trinity Road, Birmingham, B6 6HE

Contact Us

If you have any questions, call our team on 0345 222 0197

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