67 / 73 (odd numbers) & 77 Stoke Road
Stoke-on-Trent
Staffordshire
ST4 2QN

Freehold Office Investment

  • Let to Talksport Limited (trading as Signal Radio)
  • New 10 year lease renewal from 18th March 2019 (subject to option) (2)
  • Tenant in occupation for approximately 25 years
  • Major tenant refurbishment recently completed at a cost of circa £1.2 million
  • Includes 24 space car park
  • Lot
    23
  • Auction
    23/May/2019
  • Rent
    £62,500 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    Office
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
Important Auction & Property Update
  • 67 / 73 (odd numbers) & 77 Stoke Road<br>Stoke-on-Trent<br>Staffordshire<br>ST4 2QN
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* More information on the term "price" can be found here

Property Information

Location
Miles
16 miles north of Stafford
45 miles north of Birmingham
Roads
A50, A52, A500, M6 (J15)
Rail
Stoke-on-Trent
Air
Manchester Airport
Situation

The property is located 0.3 miles from Stoke-on-Trent Railway Station on the eastern side of Stoke Road, in the City's College and University Quarter. Part of the property (broadcasting centre) is located at the junction with Ashford Street and part of the property (car park) is located at the junction with Queen Anne Street. The property is located in a mixed commercial and residential location.

Tenure

Freehold.

Description

The property comprises a recently refurbished mixed office and broadcasting centre arranged over ground and first floors. The property also comprises a separate 24 space car park at 77 Stoke Road.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion Available

EPC

Band C. See legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
Ground
First
Reception/Studios
Offices/Meeting
Rooms
324.04 sq m
380.71 sq m
(3,488 sq ft)
(4,098 sq ft)
TALKSPORT
LIMITED (1)
t/a Signal Radio
10 years from
18/03/2019 until
17/03/2029 (2) on
a full repairing
and insuring lease
(3)
£62,500 (4)18/03/2024
Total
704.75 sq m
(7,586 sq ft)
  £62,500 

(1) Signal Radio, founded in 1983, is a British independent radio station serving Staffordshire and South Cheshire (Source: www.talksport.co.uk). For the year ending 1st July 2018, Talksport Limited reported a turnover of £54,513,000, pre-tax profits of £8,257,000 and a total net worth of £43,013,000 (Source: Experian Group 08/04/2019). Talksport is owned by Bauer Media Group, Europe's largest privately-owned media group with 11,000 employees worldwide (www.bauermedia.co.uk). The landlord has recently received an application from the tenant for consent to assign the lease from Talksport Limited to Scala Radio LP, another Bauer Media Group company.
(2) The lease is subject to a tenant option to determine on 17th March 2024.
(3) The lease is full repairing and insuring, subject to a Schedule of Condition.
(4) The tenant benefits from nil rent until 18th March 2020, however the vendor has agreed to adjust the completion monies so that the property will effectively produce £62,500 per annum from completion of the sale.

Property Documents

  • Site Plan
    Updated Date
    01.05.19
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    01.05.19
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Associate Auctioneers
Louis Taylor Commercial Estate Office, 5 King Street
Stoke-on-Trent
Staffordshire
ST5 1EN
Graham Hulse 01782 260222g.hulse@louis-taylor.co.uk
Seller's Solicitors
Aaron & Partners LLP Lakeside House, Oxon Business Park
Shrewsbury
SY3 5HJ
UK
Trish Randles 01743 453 686trish.randles@aaronandpartners.com

Useful Links

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