Blackburn House, Old Hall Street, Stoke-on-Trent, Staffordshire, ST1 1QT
Guide Price* : £1,250,000 plus
Town Centre Investment and Development Opportunity
- Freehold Commercial Investment And Development Opportunity In The Heart Of Hanley Town Centre, Stoke On Trent
- Adjacent To The Proposed Etruscan Square Regeneration Scheme
- Ground Floor And Basement Let To B&M Retail Ltd By Way Of An Effectively FR&I Lease At £150,000 Per Annum (Tenant Holding Over)
- 1st to 10th Floor Offices Fully Vacant
- Approximately 8,294.04 Sq M (89,276 Sq Ft)
- On a Site Area of Approximately 0.193 Hectares (0.476 Acres)
- Suitable For A Variety Of Uses (Subject To Planning)
Ground Floor B & M Unit EPC Rating: B45
The floor areas have been slightly altered from the first published details. The areas showing on the web are correct as at 18 October 2023.
B&M served a s.26 notice on 19 October 2023 requesting a new business tenancy. Negotiations remain on-going between the parties.
The property comprises an imposing retail and office building constructed over basement, ground and ten upper floors. The building is of concrete frame construction, with the ground floor and basement utilized as a large retail store, while the upper floors are currently vacant, having previously been occupied by the Secretary of State as offices.
The upper floors are accessed via a self-contained reception lobby on the ground floor and are serviced by a staircase and two passenger lifts to all floors, together with a secondary stairwell. All the upper floors have an identical, regular shaped footprint, that could be efficiently subdivided to provide individual suites or units.
Stoke-on-Trent is situated in Staffordshire in the West Midlands and is famous for the British pottery and ceramics industry. The city is formed of six towns including Stoke, Burslem, Fenton, Longton, Tunstall and Hanley, which are collectively known as The Potteries.
Hanley is established as the main retail location in the Stoke-on-Trent conurbation and is situated 29 miles south of Manchester and 40 miles north of Birmingham. Communications are excellent with the city being 7 miles east of the M6 motorway, with J15 and J16 linked by the A500 dual carriageway. Good access to Derby and the East Midlands with the M1 being accessible via the A50.
The building is situated in Hanley town centre, adjacent to Hanley bus station and the proposed Etruscan Square regeneration scheme. The building is positioned to the south of the traditional retail core and as such benefits from all the amenities offered by a town centre location.
Blackburn House is immediately adjacent to Stoke City Council’s proposed Etruscan Square regeneration scheme, in the heart of the town centre. A hybrid planning application for the Etruscan Square Masterplan was approved in April 2023, proposing a mixed-use scheme to include residential. Commercial, hotel and area/conferencing centre. For further information please go to www.stoke.gov.uk/info/20012/business/447/levelling_up_stoke-on-trent/3
Subject to obtaining the necessary consents, we are of the opinion that Blackburn House could be refurbished/developed to suit a variety of uses given the efficient and regular shape of its office footprint, the position of the service core, and the provision of a secondary stairwell.
The part basement and part ground floor is let to B&M Retail Ltd by way of a lease for 5 years from 11 February 2017. The tenant is currently holding over at a rent of £150,000 per annum (£7.10 per sq ft overall). The upper floors are vacant.
B&M Retail Limited was formed in 1978 and is now one of the leading variety retailers in the UK. From its first store in Blackpool, Lancashire, B&M has grown to over 700 stores and employs over 35,000 staff. For further information please go to www.bmstores.co.uk. They have a Dun & Bradstreet Score of 5A2.
Stoke City Council - www.stoke.gov.uk
We understand the property has been elected for VAT and that it is envisaged the sale will be dealt with as a TOGC
Energy Performance Certificate
B & M Unit - B:45
Floors 1-7 - C:74
Floors 8, 9 & 10 - C:63
|Floor||Use||SQ M||SQ FT||Tenant||Lease Terms||Rent £ PA|
|Part Basement, Part Ground||Retail||1,961.74||21,116||B&M Retail Limited||5 Years from 29/09/2016 (Holding Over) No Breaks||£150,000|
07990 564 673
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
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The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton December 2023
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
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