Frank-Steier Price Ltd. Leading niche commercial property investment practice Logo for Midlands Property Awards 09

April 2018

Senate House, Eturia Road, Hanley, Stoke on Trent, ST1 5NS

Screen Shot 2018-04-11 at 18.23.53

under offer

The property is prominently located at the junction of A53 and Eturia Road in the established prime retail warehousing location of Stoke on Trent.  The property comprises a 15,035 sq.ft ‘bulky goods’ retail warehouse let on a 10 year lease from 1 March 2012 to SMS Furniture Ltd.  The current rent is £100,000 per annum which reflects a low rent of £6.65 per sq.ft.  There is an outstanding rent review with a minimum fixed increase of £116,000 per annum.  Offers sought in excess of £1,180,000 which reflects a net initial yield of 8.0% and a minimum reversion to 9.28% on settlement of the outstanding review.