Commercial properties for sale in ST1, this area only

Investment Summary: An opportunity to acquire a modern fully let office building. Prominently located within Hanley town centre, the commercial and administrative heart of Stoke-on-Trent. Strategically positioned approximately 6 miles from Junctions 15 and 16 of the M6 motorway, providing excellent connectivity across the Midlands and North West regions. 79% let to The Secretary of State for Housing, Communities and Local Government, who have occupied the building since 2002, offering secure income supported by strong public sector covenants. 21% let to the NHS, who have exercised their break option dated 31/03/2027. Comprises 44,786 sqft (4,161 sqm) arranged over three floors. Provides 167 on-site car parking spaces, equating to a parking ratio of 1:268 sqft. The property is held Freehold under title number SF475985. Produces a passing rent of £451,602 per annum, reflecting a low average rent of £10.08 per sqft inclusive of parking spaces. Headline ERV of £551,000 per annum. Provides a WAULT of 2.22 years to lease breaks. 100% of current income secured against UK Government-backed occupiers. Potential asset management opportunities through upcoming lease events and future rental growth. Proposal: We are instructed to seek offers in excess of £3,300,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 12.85%, assuming standard purchaser's costs, and a low capital value of £74 per sqft. Net I

Description: The property was constructed in 2007 and comprises open plan offices over two floors. The office building sits within a large 1.16 acre site benefiting from a secure car park comprising 75 car parking spaces providing a ratio of 1:239 sq ft. The building benefits from a good specification including suspended ceilings with recessed fluorescent lighting, gas central heating, air conditioning, perimeter data trunking, passenger lift and male, female and disabled toilets on each floor. Tenancy: The entire property is let to DPD Group UK Ltd on a 15 year lease expiring 31.01.2032. The current passing rent of £225,500 reflecting a low £12.56 per sqft. There is a tenant's break option in January 2028 on 6 months notice. If the tenant doesn't operate the break they benefit from one year at half rent. The tenant has been in occupation at Festival Park for over 20 years and took full occupation of the building in 2017. They have a logistics hub directly opposite. Tenure: The property is held Long Leasehold for a term expiring November 2157 (131 years unexpired) from November 2007 at a ground rent of a peppercorn. The Landlord is Stoke on-Trent Regeneration Limited. Covenant Information: Founded in 1999, DPD is one of the UK's leading parcel delivery and logistics operators and forms part of Geopost, the international parcel delivery network owned by La Poste. DPD operates an extensive UK and European delivery network, providing time-critical domestic a

Location: The premises are located in Hanley (city centre) which forms part of the Stoke on Trent conurbation. Stoke is located on the M6 lying 30 miles south of Manchester and 45 miles to the north of Birmingham benefiting from good access to Junctions 15 and 16 of the M6 Motorway. The building is prominently located on the corner of Marsh Street North and New Hall Street in Hanley. The Potteries Shopping Centre is the principle retail centre in the Potteries and lies a short distance to the north accommodating over 50 retail units, several restaurants and a cinema. Description: The property comprises a substantial city centre building with 3 levels of undercroft car parking providing approx. 480 parking spaces. The building could be suitable for sub division and has potential for alternative uses to include self storage, retail, warehousing, leisure uses or redevelopment subject to the appropriate planning consents being granted. There are some structural issues within the car park. Further details available from the agents.