61/63 Weston Road, Stoke-On-Trent, Staffordshire, ST3

Investment Consideration:
Gross Initial Yield: 7.66%
Rental Income: £18,000 p.a.
VAT is NOT applicable to this property
Comprises double fronted takeaway with ancillary at first floor t/a Tigerbite
Let until 2033. No breaks. Rent review in December 2028 linked to RPI
Tigerbite currently operates 5 takeaway restaurants across West Midlands
Future residential development potential of the upper parts, subject to planning
Nearby occupiers include Co-Op Food, Coral, KFC, Domino`s and number of local traders.

Property Description:
Comprises double fronted ground floor takeaway premises with ancillary accommodation at first floor. The property benefits from a rear fenced yard and parking, providing the following accommodation and dimensions:
Ground Floor: 141.30 sq m (1,522 sq ft)
Takeaway counter, Kitchen, 2 Cold Rooms, Storage,
First Floor: 68.13 sq m (733 sq ft)
Ancillary, Office, Storage, WCs
Total area size: 209.43 sq m (2,255 sq ft)

Tenancy:
The entire property is at present let to Meir Fast Food Ltd t/a Tigerbite for a term of 10 Years from 1st December 2023 at a current rent of £18,000 p.a. and the lease contains full repairing and insuring covenants. No breaks. Rent review on 01.12.2028, linked to RPI. Deposit held of £4,500. Lease within Landlord & Tenant Act 1954. Two personal guarantors for the lease. Tigerbite currently operates 5 takeaways across West Midlands.

Location:
The city of Stoke-on-Trent has a population in excess of 266,000 and is a major employment centre located midway between Birmingham and Manchester, immediately adjacent to the M6 Motorway (Junction 15). Meir is a suburb of the city located on the A50, to the south-east of the city centre between Longton and Blythe Bridge. The property is situated on the east side of Weston Road, close to the Meir Interchange and opposite its junction with Cornelious Street. Occupiers close by include Co-Op Food, Coral, KFC, Meir NHS Primary Care Centre, Well Pharmacy and a number of local traders.