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Lot 23

Freehold Commercial Investment – Gross Yield 9.5%
In same ownership for over 33 years
6 Week Completion

Situation

Located on one of the town's main retail thoroughfares close to the junction with Leg Street opposite British Red Cross and amongst such multiples as Barnardo's, Coral, Sports Direct, Poundland, Hays Travel and many more.
Oswestry is an established market town located approx. 35 miles west of Stoke-on-Trent and approx. 15 miles north-west of Shrewsbury benefitting from good road links via the A5/M54.

Property

A mid terrace building comprising a Ground Floor Shop and Basement with internal access to Ancillary Accommodation on the first, second and third floors. In addition, the property benefits from pedestrian rear access via Star Passage.

Accommodation

Ground Floor Shop
Gross Frontage 22'5”
Internal Width 20'3”
Rear Width 10'4”
Shop Depth 54'3”
Stairs up to Kitchenette
Built Depth 73'2”
Area Approx. 840 sq ft
2 WCs
Basement
Area Approx. 489 sq ft
First Floor Ancillary
2 Rooms Area Approx. 474 sq ft
Second Floor Ancillary
3 Rooms Area Approx. 445 sq ft
Third Floor Ancillary
3 Rooms Area Approx. 365 sq ft

Total Area Approx. 2,613 sq ft

VAT is NOT 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 House of Jumble and the Comic Vault Ltd t/a Time Invaders (Comics & Café) for a term of 6 years from 20th December 2019 at a current rent of £9,500 per annum exclusive.

Note 1: There is a £2,500 Rent Deposit held.

Note 2: The Tenant did not exercise their December 2022 Break Option.

Note 3: No. 17 Cross Street is also being offered for sale in this auction - see Lot 22.

Enquire about this lot:

JOINT AUCTIONEER:
Andrew Dixon and Company
Tel: 01952 521 000 Ref: Simon Beedles
simon@andrew-dixon.co.uk

*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.

23 Cross Street, Oswestry, Shropshire SY11 2NF