Summary
| Property Type | Investment |
| Tenure | For Sale |
| Size | 105 to 2,826 sq ft |
| Price | £250,000 showing a Net Initial Yield of 7.7% after allowing for normal purchasers costs |
| Rates Payable | £6,237.50 per annum |
- £19,700 p.a. income | 7.7% Net Yield
- Prime High Street spot in Church Stretton
- Attractive freehold former bank building
- Asset management & growth potential
- Let to PCB Solicitors LLP (5-year lease)
About
The property comprises of an attractive prominently located former banking hall that is arranged to provide solicitors offices.. The property is in part two and party single storey and a basement and is attached to the adjacent property.
The property is understood to have been built in approximately 1920.
The property is of traditional ashlar stonework with glazed window units under a slate roof cover.
The property provides a Total Net Internal Floor Area of approximately 128.23 m sq (1,380 ft sq) of offices on the ground floor with a staffroom of 9.73 m sq (105 ft sq).
The First Floor provides two toilets and a lobby with a Total Gross Internal Floor Area 9.73 m sq (105 ft sq) and there is a Basement area that provides a Total Gross Internal Floor Area of approximately 1,236 ft sq (114.88 m sq).
The property has the benefit of disabled access to the side of the property.
The total site area is approximately 0.024 hectares (0.06 acres).
Accommodation
| Name | sq ft | sq m | Availability |
| Ground - Total Net Internal Floor Area | 1,380 | 128.21 | Available |
| Ground - Staffroom | 105 | 9.75 | Available |
| 1st - Total Gross Internal Floor Area | 105 | 9.75 | Available |
| Basement - Total Gross Internal Floor Area | 1,236 | 114.83 | Available |
| Total | 2,826 | 262.54 |
Location
The property is prominently situated fronting onto High Street, at the junction of High Street with Burway Road and Sandford Avenue, in the town centre of Church Stretton. High Street serves as one of the main retail streets in the retail hierarchy serving the town.
The surrounding occupiers include Hope House, Jaipur, Saxtons and The Door Knocker Company.
Church Stretton is an established market town located adjacent to the A49 Trunk Road. The town is located approximately 13 miles south of the County Town of Shrewsbury and approximately 15 miles north of the town of Ludlow. At the 2011 census the town had a population of 4,671.
The property benefits from proximity to all local amenities. Church Stretton located in South Shropshire can claim to be one of the most beautifully situated towns in England being sat at the foot of the Stretton Hills and often affectionately known as Little Switzerland. The town lies adjacent to the A49 Trunk Road midway between the towns of Shrewsbury, the county town of Shropshire, being 13 miles to the north and Ludlow being 15 miles to the south.
The A49 provides access to the national road network via the M54 to the north. The town due to the Stretton Hills is a popular tourist town particularly for walkers and it offers a thriving community with public houses, restaurants and an excellent range of independent shops. The town had a population of 4,671.
Mainline Stations
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Church Stretton4 mins
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Craven Arms131 mins
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Broome167 mins
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Hopton Heath214 mins
Underground Station
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Reading2086 mins
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Chesham2115 mins
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Twyford2136 mins
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Amersham2141 mins
Downloads
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Further Information
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Planning
The property is understood to benefit from planning consent for Use Class E of the Town and Country Use Classes Order 1987.
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Services
(not tested at the time of our inspection)
All mains services are understood to be connected to the property. -
Tenure
The property is sold freehold subject to the following occupational tenancy;
The property is currentlylet to PCB Solicitors LLP (Company Number OC312267) for a term of 5 years from the 5th of March 2024 at a rent of £19,700 per annum. The lease is granted on Tenants Internal Repairing and Insuring Terms. A copy of the lease is available from the selling agents upon request.
The property is held under the ownership of Property Title Number SL193301. -
Covenant
The property is let to PCB Solicitors LLP, who are established solicitors who have an 8 office branch network. Financial accounts are available from the selling agents for the financial year ending the 31st of March 2024.
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Local Authority
Shropshire Council
Frankwell Quay
Shrewsbury
Shropshire
SY3 8HQ -
Anti-money laundering (AML) checks
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
