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Lot 17

Freehold Town Centre Commercial Investment – Gross Yield 20%
6 Week Completion

Situation

Located in the heart of the town's pedestrianised retail thoroughfare, adjacent to Trespass and amongst such other multiple retailers as Caffe Nero, Specsavers, Betfred, Boots Opticians and Vodafone.
Stafford is the County Town of Staffordshire situated approx. 25 miles north of Birmingham.

Property

A mid terraced deep single storey and part two storey building comprising a Ground Floor Shop with internal access to Ancillary Space on the first floor. In addition, the property includes a rear garden/yard.

Accommodation

Ground Floor Shop
Gross Frontage 33'0”
Internal Width 25'4”
narrowing at rear to 17'6”
Shop Depth 62'4”
Built Depth 75'5”
Area Approx. 1,815 sq ft
First Floor Ancillary
Area Approx. 520 sq ft¹
WCs
________________
Total Area Approx. 2,335 sq ft

¹Not inspected by Barnett Ross. Area taken from VOA.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a repairing and insuring Law Society lease to Bedcrown Limited (Bed Shop/Second Hand Furniture) for a term of 3 years from 3rd January 2023 at a current rent of £18,000 per annum exclusive.

Note 1: Prior to January 2024, the tenant was paying £12,000 p.a. by way of a personal concession.

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

Planning

Prior Approval was granted on 1st August 2023 by Stafford Borough Council for ‘Change of use from retail to residential (class C3) of the upper floor currently in ancillary use to the ground floor retail unit' Ref: 22/35778/POTH.

Click here to view the planning documentation.

*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.

29 Gaolgate Street, Stafford, Staffordshire ST16 2NT