Summary
| Property Type | Investment |
| Tenure | For Sale |
| Size | 2,731 sq ft |
| Price | Offers in excess of £435,000 (exclusive) showing a Net Initial Yield of 7 % (after normal purchasers costs) |
| Rates Payable | £18,427.50 per annum |
| EPC Rating | This property has been graded as E (124) |
- Prime retail investment fronting onto Pride Hill
- Located in the sought after county town of Shrewsbury
- Let to strong covenant
- Future asset management potential
- Current rent passing £31,754 per annum
- Unexpired lease term of approximately 4.5 years
About
The property comprises of a period building of brick construction under a tiled roof cover with a fully glazed shop front. The property comprises of a four storey property with a lower basement area. The property has a Total Net Sales Area of approximately 640 ft sq (59.45 m sq) and three further upper floor levels providing a variety of ancillary accommodation. There is a lower ground floor/basement area providing stores and welfare facilities and there is a rear fire escape to the rear of the property.
The property is currently fitted out as a travel agents and benefits from a high quality shop fit. In the future the uppers offer potential for future alternative use, subject to statutory consents and provide an asset management opportunity.
The property currently provides a well let retail investment in a popular market town and its potential can only be fully appreciated by undertaking an inspection of the property.
Accommodation
| Name | sq ft | sq m | Availability |
| Ground - Sales Area | 640 | 59.46 | Available |
| 1st - Ancillary Sales | 575 | 53.42 | Available |
| 2nd - Ancillary Sales | 355 | 32.98 | Available |
| 3rd - Ancillary Sales | 379 | 35.21 | Available |
| Basement - Staffroom | 112 | 10.41 | Available |
| Basement - Ancillary Basement | 670 | 62.25 | Available |
| Total | 2,731 | 253.73 |
Location
The property is prominently located fronting onto Pride Hill, which serves as the prime retail location in the retail hierarchy serving the town of Shrewsbury. The surrounding occupiers include EE Mobile phones, TH Baker, Superdrug, Nationwide Building Society, Three, Floro Lounge, Clintons, Boots and Hobbs. The property close to the entrance to the Darwin Shopping Centre. Pride Hill has strong footfall 186,000 (August) rising to 223,000 (December 2024).
Mainline Stations
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Shrewsbury5 mins
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Yorton134 mins
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Wellington (Shropshire)191 mins
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Wem199 mins
Underground Station
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Chesham2204 mins
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Reading2217 mins
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Amersham2234 mins
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Twyford2260 mins
Further Information
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Tenure
The property is held under the ownership of Title Number SL93250.
The property is freehold and sold subject to the following occupational tenancy;
Lease dated 4th of October 2019 between Harley Securities Limited and Just Go Travel Limited(Company Number 04168138) for a term of 10 years from 4th of October 2019 at a rent of £31,754 per annum on Tenants Full Repairing and Insuring basis. The Lease is inside the Landlord and Tenant Act 1954 Part 2. -
Planning
(Prospective purchasers should rely on their own enquiries)
The property is understood to benefit from planning consent for Use Class E of The Town and Country Use Classes Order 1987.
Gallery
