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Lot 11 Click here for addendum

(GROSS YIELD 7.7%)

SITUATION

Located in the prime pedestrianised shopping centre of this famous market town which has historic connections with William the Conqueror and has a Cathedral and Castle. Nearby multiples include Marks & Spencer, Little Waitrose, Tesco Express, Thomas Cook, Body Shop, EE, Boots, Holland & Barratt, Superdrug, Greggs and others.
In addition, the property is located directly between the entrances to the Pride Hill Shopping Centre and The Darwin Shopping Centre.
Shrewsbury lies approx. 46 miles west of Birmingham and 12 miles from Junction 7 of the M54 Motorway.

PROPERTY

A mid terraced Grade II Listed building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on the 3 upper floors.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 11'9"
Internal Width 9'8" widening to 10'6"
Shop Depth 41'2"
Built Depth 48'6"
First Floor Area Approx. 444 sq ft
WC
Second Floor Area Approx. 475 sq ft
Third Floor Area Approx. 336 sq ft

VAT is applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to Vape Depot Ltd (having approx. 5 branches) for a term of 5 years from 24th August 2017 at a current rent of £38,500 per annum exclusive

Tenant's Break August 2020

Note: Planning Consent was granted in September 2016 for A5 (Take-away Use).

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

39 Pride Hill, Shrewsbury, Shropshire SY1 1DN