69 Mardol, Shrewsbury, Shropshire, SY1 1PY
  • Type: Investment
  • Size: 2,502 ft²
  • Status: Sold
  • Location: 69 Mardol, Shrewsbury, ShropshireView map
  • Substantial Grade II listed four storey retail property extending to 232.59m² (2,502 ft²)
  • Income generating with potential for residential re-development 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 £295,000 for the Freehold interest
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Full Property Description

Substantial four storey retail investment in prominent town centre location.

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.

DESCRIPTION

The substantial Grade II listed building of traditional brick construction provides versatile accommodation over four floors extending to approximately 232.59m² (2,502ft²). The ground floor area has been extensively improved by the existing occupier offering a large open plan retail area of approximately 97.40sqm² (1,048ft²) with ancillary offices to the rear, kitchenette and staff W.C.

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 rear pedestrian access leading into a small year area.

ACCOMMODATION

Ground Floor    
Main Shop area 97.40m² (1,048ft²)
Ancillary areas 14.88m² (160ft²)
     
First Floor    
Landing, toilets and two rooms 63.21m² (680ft²)
     
Second and Third Floors    
Landings, two rooms stores and attic room 57.10m² (614ft²)
     
Total 232.59m² (2,502ft²)
     
Outside    
Small rear yard and lean to stores    

SERVICES

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.

TENURE

The property is offered for sale Freehold by private treaty 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 £25,000 per annum. The original lease was granted for a 15 year term from the 16th February 2004 to the 15th February 2019. The property is currently occupied by Corbetts the bookmaker.

PRICE

Offers in the region of £295,000 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.

RATEABLE VALUE

The current rateable value is listed as £26,000 effective 31st April 2017 the property being described as amusement arcade and premises.

PLANNING

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.

LOCAL AUTHORITY

Shropshire Council, The Shirehall, Abbey Foregate, Shrewsbury. SY2 6ND

LEGAL COSTS

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.

VIEWINGS

Strictly By appointment with the sole letting agents First City Limited on 01902 710999 quoting reference no. 4364.

LOCATION AND SITE PLANS

Location & Site Plans   Location & Site Plans

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