75 London Road, Chesterton, Newcastle under Lyme

Description

A vacant freehold ground floor retail unit with flat above which has been sold long leasehold within an established residential neighbourhood.

Accommodation

Ground floor end-of-terrace retail unit with ancillary stores, kitchen and WC, large storage area to the rear, and a return glazed frontage. The first-floor flat has been sold on a long leasehold basis.

Location

The property occupies a prominent position fronting the eastern side of the B5500 London Road at its junction with George Street, within a well-established residential neighbourhood with predominantly older residential development interspersed with local shopping. Chesterton Park and Chesterton Community Sports College are nearby. Chesterton is a former mining village in the borough of Newcastle under Lyme, approximately 4 miles from central Stoke-on-Trent.

Tenure / Property Information

Investment Analysis

The £45,000–£116,000 sold comparables are nearby residential freehold transactions and are not directly comparable to this mixed-use asset. The freehold appears to comprise a vacant ground-floor retail unit plus the landlord’s interest in the first-floor flat, which has already been sold on a long leasehold. No floor areas, commercial valuation, passing retail rent, lease term, or lease documentation are supplied. The £50,000 guide is therefore not independently supportable as market value. The £2,700 administration charge is known, while further special-condition costs remain unquantified.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and obtaining commercial valuation and rental evidence for the retail freehold interest. Treat the flat as a long-leasehold interest already disposed of, not as vacant freehold residential accommodation.

Works Required

No specific defects or refurbishment requirements are evidenced. Before bidding, verify the retail unit’s condition, services, statutory compliance, EPC, fire arrangements, and any required fit-out or repairs through inspection and the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is unsupported because there is no reliable GDV, rent, refurbishment budget, floor area, or evidence that the freehold interest can be refinanced on suitable terms. The long-leasehold sale of the flat and unseen lease documentation are material constraints.

Buy-to-Let Analysis

A BTL yield cannot be established because no rent is supplied for the vacant retail unit and the £1,000 pcm listing is only generic Chesterton commercial asking-rent evidence, not a valuation or achieved rent for this property. The £250 annual ground rent is payable to the freeholder, but the flat is already sold on a long leasehold and its lease terms are not supplied.

Flip Analysis

A flip surplus cannot be calculated. The available sold comparables are residential rather than mixed-use evidence, and no supported resale value, refurbishment allowance, or selling-cost allowance is available.

Investor Risks & Due Diligence

• The first-floor flat has already been sold on a long leasehold and is not available as vacant freehold residential accommodation.

• The auctioneer has not seen the lease documentation; lease term, covenants, repair obligations, and other terms are unverified.

• The ground-floor retail unit is vacant, with no property-specific rent or tenant demand evidence supplied.

• The £1,000 pcm commercial listing is advertised asking rent for an unspecified property and should not be treated as achieved rent for this asset.

• Additional completion costs may apply under the special conditions and are not quantified.

• EPC, condition, heating, parking, council tax and other property details are not supplied.

Recommendation

Proceed only after reviewing the legal pack and obtaining commercial valuation and rental evidence for the retail freehold interest. Treat the flat as a long-leasehold interest already disposed of, not as vacant freehold residential accommodation.

Strategy Rating

Analysis Confidence

The address, tenure, guide price, administration fee, nearby sales, and generic rental evidence are supplied, but key underwriting information is missing, including floor areas, lease documentation, commercial rent, condition, EPC, special-condition costs, and a directly comparable mixed-use valuation.