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Lot 24 Withdrawn Prior - To be offered in our 13th July 2023 Auction

26 Market Street, Crewe, Cheshire CW1 2EL

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Lot 24   Click here for addendum

Freehold Commercial Investment – Gross Yield 12.5%
In same ownership for approx. 28 years
6 Week Completion

Situation

Located close to the junction with the pedestrianised Market Square in the town centre, opposite NatWest, adjacent to Coral and Nationwide, and nearby branches of HSBC, Subway, Barclays, Costa, New Look and many other multiples.
Crewe is a large town which lies approx. 12 miles north-west of Stoke-on-Trent and 25 miles south-east of Chester with good road access to the M6 (Junctions 16 & 17). Crewe Station is a major junction on the West Coast Main Line and serves as a rail gateway for North West England.

Property

A mid terrace building comprising a Ground Floor Shop with separate rear access to Ancillary Accommodation on first and second floors - see Note.

Accommodation

Ground Floor Shop
Gross Frontage 22'5”
Internal Width 22'0” (max)
Shop Depth 56'1”
Built Depth 73'10”
2WCs
First Floor Ancillary
GIA Approx. 739 sq ft
Second Floor Ancillary
GIA Approx. 719 sq ft incl. WC

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 Atos IT Services UK Limited (See Tenant Profile) for a term of years from 1st August 2020 until 1st March 2029 (by way of a reversionary Lease - in occupation since 2015) (excl. s.24-28 of L&T Act 1954) at a current rent of £25,000 per annum exclusive.

Rent Review 2026

Tenant's Breaks 2024 and 2026

Tenant Profile

The Tenant is a subsidiary of Atos which brands itself as a global leader in digital transformation with 111,000 employees in 69 countries. It operates this property as a Personal Independence Payment (PIP) Consultation Centre. These centres are used for the independent assessment of cases of health conditions and disabilities on behalf of The Department of Work and Pensions (DWP).

Note: The Tenant does not currently utilise the first and second floors, which are in need of complete refurbishment.

VIRTUAL TOUR

Click here to view the virtual tour of the first and second floors of the property

Enquire about this lot:

Photo of John Barnett

John Barnett
020 8492 9449
jbarnett@barnettross.co.uk

Photo of Elliott Greene

Elliott Greene
020 8492 9449
egreene@barnettross.co.uk

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.