7 Lad Lane, Newcastle, Staffordshire ST5 1RE

This freehold commercial property is located in the pedestrianised retail core of Newcastle-under-Lyme, arranged over four floors. The ground floor comprises a retail unit of approximately 350 sq ft, with an additional basement storage area of about 233 sq ft. The first floor offers approximately 242 sq ft of accommodation, while the second floor provides around 270 sq ft, featuring areas with sloping ceilings. The property is currently let to two tenants, generating a gross income of £11,000 per annum, with scheduled increases to £11,500 in the second year and £12,000 in the third year. Full planning permission has been granted for the conversion of the upper floors to Class C1 visitor accommodation, allowing for potential alternative residential use. Mains electricity, water, and drainage services are connected. The property is situated near the Ironmarket and adjacent to a redevelopment project that will enhance connectivity and footfall in the area. The current leases include a 3-year term for the ground floor and basement, and a 5-year term for the first and second floors. The property has an EPC rating of E.