Summary
| Property Type | Investment |
| Tenure | For Sale |
| Size | 12 to 1,810 sq ft |
| Price | £415,000 Net Initial Yield of 7.5% after allowing for normal purchasers costs |
| Rates Payable | Upon Enquiry |
- Prominently located in the historic sought after town of Shrewsbury
- Part income producing and part vacant with significant asset management potential and potential for alternative uses subject to statutory consents
- Viewing strongly recommended
- Arranged currently as three commercial units and residential apartments sold off on long leases
About
The property provides a rare opportunity to acquire a prominently located mixed commercial and residential investment in the sought after town of Shrewsbury. The property comprises of a substantial Grade 1 listed property that is in part three and part single storey with a basement area that is currently arranged as three commercial retail units and three residential apartments that have been sold off on long leases.
The property has a frontage onto Wyle Cop and also a frontage onto Barracks Passage.
The property is of Freehold ownership under the Title Number SL246416 and in part income producing and part vacant offering significant asset management opportunities.
73 Wyle Cop comprises of a lock up shop unit fronting onto Wyle Cop which is arranged to provide a Total Net Internal Sales Area on the ground floor of 348 ft sq (32.33 m sq) and a basement area with a Total Gross Internal Floor Area of approximately 100 ft sq (9.29 m sq). The shop unit is tenanted.
73B and 73C Barrack Passage comprises of a former restaurant and provides a Total Net Internal Area of 787 sq ft (73.30 m. sq), arranged over the ground and first floor.
To the rear of the property is 73A Barrack Passage and provides a Total Net Internal Area of 561 sq ft (52.11 m. sq) arranged over the ground and first floor of the property. There is a courtyard to the side of 73A Barracks Passage.
The residential part of the property is accessed from a self-contained shared ground floor entrance via an archway off Barracks passage. All the three residential flats have been sold off on long leaseholds for at 125 years at a peppercorn rent.
The property is of traditional construction being in part timber framework and part brickwork with glazed shop fronts to Wyle Cop and Barracks Passage sitting under a tiled roof cover.
The sale of this property offers the opportunity to acquire a part income producing and part vacant mixed commercial/residential investment in a sought after town of Shrewsbury, with significant future asset management potential. There is potential for residential conversion to the vacant commercial units, subject to statutory consents.
Accommodation
| Name | sq ft | sq m | Availability |
| Ground - Total Net Internal Area | 348 | 32.33 | Available |
| Ground - Rear Lobby | 12 | 1.11 | Available |
| Basement - Total Net Internal Area | 100 | 9.29 | Available |
| Ground - 73B and 73C Barrack Passage - Total Net Sales Area | 458 | 42.55 | Available |
| 1st - Total Net Internal Area | 207 | 19.23 | Available |
| 1st - Total Net Sales Area | 124 | 11.52 | Available |
| Ground - 73A Barrack Passage - Total Net Internal Area | 240 | 22.30 | Available |
| Ground - Stores | 41 | 3.81 | Available |
| 1st - Room 1 | 144 | 13.38 | Available |
| 1st - Room 2 | 136 | 12.63 | Available |
| Total | 1,810 | 168.15 |
Location
The property is prominently situated fronting onto Wyle Cop in the town centre of Shrewsbury with a return frontage onto Barracks Passage The property is situated on the south side of Wyle Cop, close to the junction of Wyle Cop with Dogpole.
The property is located in a sought-after retail quarter within the town centre with surrounding occupiers including The Lion, Henry Tudor House, Mondi Cafe, Ella Cru, Brok, Tudor Galleries and Dills. Wyle cop serves as an important vehicular route within the town centre and is located in close proximity to various public car parks serving the town.
Shrewsbury is a market town and civil parish in Shropshire, England. It is sited on the River Severn, 33 miles (53 km) northwest of Wolverhampton, 15 miles (24 km) west of Telford, 31 miles (50 km) southeast of Wrexham and 53 miles (85 km) north of Hereford. At the 2021 census, the parish had a population of 76,782. It is the county town of the ceremonial county of Shropshire.
Mainline Stations
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Shrewsbury8 mins
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Yorton138 mins
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Wellington (Shropshire)190 mins
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Wem202 mins
Underground Station
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Chesham2201 mins
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Reading2213 mins
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Amersham2230 mins
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Twyford2257 mins
Downloads
Download Marketing Brochure
Further Information
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Planning
The property is understood to benefit from planning consent for Use Class E and Class C3 of the Town and Country Use Classes Order 1987. The property is understood to be Grade one listed.
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Services
(not tested at the time of our inspection)
Mains water, electricity and drainage are understood to be connected to the property. -
local Authority
The Guildhall,
Frankwell Quay,
Shrewsbury,
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
