Summary
| Property Type | Investment |
| Tenure | For Sale |
| Size | 1,346 sq ft |
| Rates Payable | £2,195.60 per annum |
- One lock retail shop unit and one two bedroomed residential flat
- Tenanted shop unit with Total Net Internal Sales Area approximately 460 sq ft (42.73 m sq) with ancillary accommodation
- Current Total rent passing rent £11,400 per annum
- Attractive asset management opportunity
About
The property comprises of a lock shop unit and a residential flat held under the ownership of Title Number SL172214 that is in part three and part single storey. The mid terraced property is of traditional construction being of brick construction under a slate roof cover with all parking on street.
The shop is currently let to a private tenant and has a Total Net Internal Sales Area of approximately 460 sq ft (42.73 m sq) with a staffroom and toilet at the rear. The tenant is currently holding over at a current passing rent of £3,600 p.a.
The flat benefit from a separate entrance from a passageway that is shared with properties held in “third party” ownership from Market Street. The provides a large well presented two bedroomed flat with a Total Gross Internal Floor Area of 751 sq ft (69.76 m sq), which is currently let on an AST at a rent of £7,800 per annum. The flat is arranged to provide on the first floor a landing area, kitchen, shower room and sitting room and then on the second floor is two bedrooms and a landing area.
At the rear of the property there is a small rear yard area.
The property would be of interest to property investors and speculators and has asset management potential.
Accommodation
| Description | Building Type | sq ft | sq m |
| 14 Market Street | High Street Retail | 460 | 42.74 |
| 14a Market Street | Residential | 751 | 69.77 |
| Total | 1,211 | 112.51 |
Location
The property is located fronting onto Market Street within the town centre of Craven arms in an area of mixed development, close to the junction of Market Street with Dale Street. The surrounding occupiers include Poultry and Pet Supplies, The paper shop, Severn Hospice and The Stables.
The property is located in proximity to all local amenities with the A49 and the town’s main car park in close proximity.
Craven Arms is an established market town where all local amenities are available. The town is located approximately 21 miles south of the County Town of Shrewsbury and approximately 10 miles north of the town of Ludlow.
Mainline Stations
-
Craven Arms6 mins
-
Broome47 mins
-
Hopton Heath90 mins
-
Ludlow132 mins
Underground Station
-
Reading2014 mins
-
Twyford2068 mins
-
Chesham2069 mins
-
Amersham2093 mins
Further Information
-
Town and Country Planning
The land will be sold subject to any development plan, tree preservation order, town planning schedule, resolution or notice which may be or come to be in force, subject to any road widening or improvement schemes, land charges and statutory or provisional by-laws without any obligation on the vendor to specify them
-
Boundaries, Roads & Fences
The Purchasers shall be deemed to have full knowledge of the boundaries and roads and neither the Vendor nor the Agent will be responsible for defining the ownership of boundary hedges or fences.
-
Conditions of Sale
Please note that the property is sold in accordance with the Common Auction Conditions [4th Edition March 2018] (a copy of which is included with the Legal Pack). Special Conditions of Sale relating to each lot are available upon request from the Auctioneers or the Vendors Solicitor prior to the auction.
The contract and special conditions of sale will not be read out by the auctioneers at the auction but will be available for inspection at the auctioneer’s offices or the vendors solicitors for a period before the auction date. Purchasers will be deemed to have inspected these Special Conditions of Sale and will be legally bound by these conditions which will form part of and will be attached to the Sale Memorandum. -
Payment of Deposit
The successful buyer of each lot will be required to pay a deposit of 10% of the purchase price (subject to a minimum of £1,000) to the vendors’ solicitor prior to leaving the saleroom. Any deposit payments collected by Halls Holdings Limited will incur a 1% service charge. PLEASE NOTE THAT WE DO NOT ACCEPT ANY FORM OF CASH DEPOSIT OR CREDIT CARDS.
-
Rights of Way Easements/ Wayleaves
The land will be sold subject to any wayleaves, public or private rights of way, easements and covenants and all outgoings whether mentioned in the sales particulars or not.
-
Buyers Premium
In addition to the contract deposit required, buyers should note when bidding, that on the fall of the gavel, they will be responsible for paying a Buyer’s Premium as noted on individual lots. This is additional to the purchase price and set at 2.5% plus VAT of the “hammer price”, subject to a minimum fee of £2,500 plus VAT (£3,000).
Please bring with you the means to pay both the deposit and the Buyer’s Premium. -
Guide Price/ Reserve
£70,000 to £90,000 (Ninety to One Hundred Thousand Pounds) (Exclusive)
*Guides are provided as an indication of each seller’s minimum expectation they are not necessarily figures which a property will sell for and may change at any time prior to the auction.
Each 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.
The property is offered for sale by public auction on Friday 25th of July at 3pm at Halls Holdings House, Bowmen Way, Battlefield, Shrewsbury, Shropshire, SY4 3DR. -
Method of Sale
The property is offered for sale by public auction on Friday 25th of July at 3pm at Halls Holdings House, Bowmen Way, Battlefield, Shrewsbury, Shropshire, SY4 3DR.
-
Services
(not tested at the time of our inspection) All mains services are understood to be connected to the property. The shop and the flat are understood to be separately metered.
-
Tenure
The property is owned under Title Number SL172214
The property is offered for sale subject to the existing occupational tenancies.
14 Market Street - Licence to occupy dated the 25th January 2022 determinable by either party on 60 days notice. - £3,600 p.a. - Tenants Internal Repairing Basis.
14a Market Street - AST for 6 months from 27th February 2025 - £7,800 p.a. -
Planning
Prospective tenants should make their own enquiries.
The property is understood to benefit from planning for Use Class E for the ground floor retail until and C3 for the upper residential floors of the Town and Country Use Classes Order 1987. -
Local Authority
Shropshire Council,
Guildhall,
Frankwell Quay,
Shrewsbury,
SY3 8HQ -
Solicitors
PCB Solicitors LLP – Rachel Wierzbinski
Shrewsbury Business Park,
Cypress Centre,
Sitka Dr,
Shrewsbury SY2 6LG
Call: 01743 248148
Email: rachel.wierzbinski@pcblaw.co.uk -
Anti-money laundering (AML)
We are legally obligated to undertake anti-money laundering checks on all property purchasers. Whilst we are responsible for ensuring that these checks, and any ongoing monitoring, are conducted properly; the initial checks will be handled on our behalf by a specialist company, Movebutler, who will reach out to you once your offer has been accepted.
The charge for these checks is £30 (including VAT) per purchaser, which covers the necessary data collection and any manual checks or monitoring that may be required. This cost must be paid in advance, directly to Movebutler, before a memorandum of sale can be issued, and is non-refundable. We thank you for your cooperation.
Gallery
