9/10 Mardol, Shrewsbury, Shropshire, SY1 1PY
- Type: Investment
- Size: 2,502 ft²
- Status: Sold
- Location: 9/10 Mardol, Shrewsbury, Shropshire, SY1 1PYView map
- Substantial Grade II listed four storey retail property extending to 424m² (4,568 ft²)
- Income generating with potential for residential re - development of upper floors subject to planning permission and negotiation with tenant
- Prominent Town Centre location close to other occupiers such as Lakeland, Jessops, Pizza Express and Tara
- Offers invited in the region of £395,000 for the Freehold interest
Full Property Description
Substantial four storey retail investment in prominent town centre location.
The property occupies an established retail position amongst a range of national an independent traders such as Lakeland, Jessops, Pizza Express and Tara. The Darwin and Pride Hill Shopping Centres are close by together with various public car parks.
Shrewsbury is the County Town and administrative centre of Shropshire strategically located at the intersection of the main A49 and A5 trunk roads approximately 55 miles northwest of Birmingham, 18 miles west of Telford and 40 miles south of Chester.
The substantial Grade II listed building of traditional brick construction provides versatile accommodation over four floors extending to approximately 4242m² (4,564ft²). The ground floor area has been extensively improved by the existing occupier offering a split level retail area of approximately 95.9sqm² (1,025 ft²) with ancillary offices to the rear, kitchenette and staff W.C. There is cellar beneath the main retail area.
The first, second and third floors are currently not in use but provide potential for residential conversion subject to planning permission and negotiation with the existing tenant. There is no staircase link between the first and second floors. There is a shared side access which provides pedestrian access to the rear.
|Retail Area (No. 10)||47.10m²||(506ft²)|
|Retail Area (No. 9)||48.80m²||(525ft²)|
|One large room||107.00m²||(1,151ft²)|
|Five rooms of various sizes||99.4m²||(1,069ft²)|
|Five rooms of various sizes||103.00m²||(1,108ft²)|
We understand that mains water, electricity and gas are available to the premises.
Interested parties should make their own enquiries with the relevant utility providers.
The property is offered for sale on a freehold basis subject to the existing tenancy.
The property is currently income generating subject to a full repairing and insuring lease at a current rent understood to be £33,500 per annum. The original lease was granted for a 25 year term from the 25th March 1988 running until the 24th March 2023. There is a rent review due on the 25th March 2018. The property is currently held on a supplemental lease granted in July 2009 to National Leisure Limited now trading as Silvers Amusements Arcade.
Offers in the region of £395,000 are invited for the Freehold interest subject to the existing lease.
ENERGY PERFORMANCE CERTIFICATE
It is understood that an EPC is not required as the property is a listed building.
The current rateable value is listed as £33,000 effective 31st April 2017 the property being described as amusement arcade and premises.
We understand that the property has planning permission for use as a bookmakers which is sui generis. We further understand that the property is Grade 2 listed and is located within the Shrewsbury Town Conservation Area. Interested parties are advised to make their own enquiries with the Local Planning Authority.
Shropshire Council, The Shirehall, Abbey Foregate, Shrewsbury. SY2 6ND
Each party will be responsible for their own legal costs in connection with the transaction. All costs/prices are exclusive of but subject to VAT if applicable. We are advised that no VAT will not be chargeable on this transaction.
All costs / prices are exclusive of but subject to VAT if applicable. We are understand that the transaction will not be subject to VAT.
Strictly By appointment with the sole letting agents First City Limited on 01902 710999 quoting reference no. 4359.