2-4 Derby Street, Leek, ST13 5AB

The property is situated in the heart of Leek town centre at the western end of Derby Street, close to its junction with Stanley Street and diagonally opposite Market Place, with an adjacent 36-space car park.

The property occupies a 100% prime retailing pitch in the town, with nearby occupiers including Boots, Superdrug, Specsavers and The Works.

The property comprises an attractive, mid-terrace property arranged over basement, ground and first floors. The property has brick and glazed elevations and has been fitted out to a high standard as a coffee shop on the ground floor, with ancillary accommodation at basement and first floor.

Leek is an English market town and civil parish in the county of Staffordshire, on the southwest edge of the Peak District. The town is situated on the River Churnet, about 10 miles northeast of Stoke-on-Trent, 13 miles south of Macclesfield and 28 miles to the northwest of Derby.

Leek is the administrative centre for the Staffordshire Moorlands District Council. The town has a population of circa 21,000 people, transport links are via the A523 leading to Macclesfield and the A52 to the southeast linking to the A53 and the M6. The town is served by the First Potteries bus network with regular services to Hanley, Stoke-on-Trent as well as the other nearby towns of Buxton, Macclesfield and Ashbourne.

Coffee #1 are a neighbourhood coffee shop brand and a wholly owned subsidiary of Caffè Nero. The company has achieved significant growth in recent years, and they now trade from 110 stores across the UK.

For the year ending 31 May 2025, the company made a pre-tax profit of £4,933,000.00 and had total shareholders’ funds of £30,7773,000.00.

The property is occupied on a lease dated 10 October 2022 for a term of 10 years at a current rent of £32,500 pa. A deal was agreed to remove the 2027 break option in exchange for agreeing a nil uplift at rent review, highlighting the tenant’s commitment to the location. There is now an unexpired term certain of approximately six and a half years.

We are instructed to seek offers in excess of £390,000 (Three Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net initial yield of 8.00% assuming purchaser’s costs of 4.11%.