MapOffers in region of
£180,000Property for sale
202 - 204, Whitchurch Road, Shrewsbury, SY1 4EL
Property
1048
Features and description
- Retail/residential income producing investment
- Showing a Net Initial Yield of 8.7% (after allowing for normal purchasers costs)
- Offered for sale freehold, subject to the existing occupational tenancies
- Comprises two retail units and six flats
- Flats - All sold on long leasehold basis
- Each flat is liable to pay a ground rent of £75 per annum currently
Description
The property comprises of two lock up shop units on the ground floor that are currently arranged as one lock up shop unit with 6 residential flats above that have all been sold off on long leases and a service delivery area. The residential flats are sold off on long leasehold tenures and each flat is liable to pay a ground rent of £75 per annum currently. The property comprises of an opportunity to acquire a commercial retail investment with additional income generated from the ground rents from the flats that are sold off on long leases.
The ground floor lock up shop unit provides two shop units, Unit 202 Whitchurch Road provides a Total Net Internal Floor Area of approximately 524 ft sq (48.68 m sq) with a toilet and Unit 202 Whitchurch Road provides a Total Net Internal Floor Area of approximately 524 ft sq (48.68 m sq) with a toilet .
The shop unit has a glazed return glazed frontage. The property is three storey and of concrete framework with brick infill panels under a flat roof cover.
Location
The property is prominently located fronting onto Whitchurch Road on the edge of the sought after town of Shrewsbury. The property forms part of a neighbourhood shopping parade that is located approximately 1.5 miles north east of Shrewsbury town centre. The property is located within proximity of all local amenities. The surrounding occupiers include Wickes, Carma Salon and Paperwrite. Whitchurch Road serves as the main arterial road into Shrewsbury town centre from the east and the north.
Shrewsbury is the county town of Shropshire with a population of approximately 77,000 at the 2011 Census and is an administrative and tourist centre and located approximately 48 miles west of Birmingham, 42 miles south of Chester and 16 miles west of Telford.
Local Authority
Shropshire Council,
Guildhall,
Franakwell Quay,
Shrewsbury,
SY3 8HQ
Anti-money laundering (AML)
We are legally obligated to undertake anti-money laundering checks on all property purchasers. Whilst we are responsible for ensuring that these checks, and any ongoing monitoring, are conducted properly; the initial checks will be handled on our behalf by a specialist company, Movebutler, who will reach out to you once your offer has been accepted.
The charge for these checks is £30 (including VAT) per purchaser, which covers the necessary data collection and any manual checks or monitoring that may be required. This cost must be paid in advance, directly to Movebutler, before a memorandum of sale can be issued, and is non-refundable. We thank you for your cooperation.
The property comprises of two lock up shop units on the ground floor that are currently arranged as one lock up shop unit with 6 residential flats above that have all been sold off on long leases and a service delivery area. The residential flats are sold off on long leasehold tenures and each flat is liable to pay a ground rent of £75 per annum currently. The property comprises of an opportunity to acquire a commercial retail investment with additional income generated from the ground rents from the flats that are sold off on long leases.
The ground floor lock up shop unit provides two shop units, Unit 202 Whitchurch Road provides a Total Net Internal Floor Area of approximately 524 ft sq (48.68 m sq) with a toilet and Unit 202 Whitchurch Road provides a Total Net Internal Floor Area of approximately 524 ft sq (48.68 m sq) with a toilet .
The shop unit has a glazed return glazed frontage. The property is three storey and of concrete framework with brick infill panels under a flat roof cover.
Location
The property is prominently located fronting onto Whitchurch Road on the edge of the sought after town of Shrewsbury. The property forms part of a neighbourhood shopping parade that is located approximately 1.5 miles north east of Shrewsbury town centre. The property is located within proximity of all local amenities. The surrounding occupiers include Wickes, Carma Salon and Paperwrite. Whitchurch Road serves as the main arterial road into Shrewsbury town centre from the east and the north.
Shrewsbury is the county town of Shropshire with a population of approximately 77,000 at the 2011 Census and is an administrative and tourist centre and located approximately 48 miles west of Birmingham, 42 miles south of Chester and 16 miles west of Telford.
Local Authority
Shropshire Council,
Guildhall,
Franakwell Quay,
Shrewsbury,
SY3 8HQ
Anti-money laundering (AML)
We are legally obligated to undertake anti-money laundering checks on all property purchasers. Whilst we are responsible for ensuring that these checks, and any ongoing monitoring, are conducted properly; the initial checks will be handled on our behalf by a specialist company, Movebutler, who will reach out to you once your offer has been accepted.
The charge for these checks is £30 (including VAT) per purchaser, which covers the necessary data collection and any manual checks or monitoring that may be required. This cost must be paid in advance, directly to Movebutler, before a memorandum of sale can be issued, and is non-refundable. We thank you for your cooperation.
Property information from this agent
About this agent
Halls - Commercial Property
Halls Holdings House, Bowmen Way, Battlefield
Shrewsbury, Shropshire
SY4 3DR
01743 534860Halls Commercial provides a range of specialist commercial property services to clients of all sizes across the UK. We have a comprehensive knowledge of our markets developed over many years operating in this sector. Our service is forward thinking, personal and professional, designed to achieve the best results for our clients whatever their requirements. Although we operate nationwide, we retain a particular emphasis on the Midlands. Agency Services Our commercial agency team are on hand to offer friendly advice and market appraisals, helping you buy and sell commercial property throughout Shropshire, Worcestershire, Mid Wales, the West Midlands and beyond. We advise investors and developers on selling and acquiring commercial property, while also assisting with the acquisition of new premises or disposing of unwanted space. From offices and retail to industrial and leisure-based properties, we can guide you through the sale of all types of commercial property. Offering advice at every stage, we will help you find the best route to market and give you advice on how to attract the right buyers. We can also give guidance on development land, whether owner occupied or held as an investment. With strong links to buyers, our skilled and knowledgeable team are on hand to advise from start to finish. This includes guidance on any works required prior to sale, including applications for planning consent, refurbishment programmes and tenant disputes. Management Services Offering a strategic approach, we always have your future needs in mind. Whether you’re an experienced landlord or a one-off investor, we understand that your priority is to increase the value of your investment while minimising void periods and building a strong tenant profile. Working closely with our in-house marketing and PR team, we have a comprehensive tenant vetting process to help minimise your risks. If you’re looking to expand your commercial property portfolio, we will take the time needed to gain a full understanding of your needs and match you with properties suited to your business requirements within your timescales. Professional Property Services Halls Commercial is a team of RICS Registered Valuers with professional indemnity insurance cover of £10 million. As you would expect we are on the valuation panels of most of the major banks including Barclays, Lloyds, Royal Bank of Scotland, HSBC, NatWest, Handelsbanken, and Clydesdale. Our experienced team of valuers operates in accordance with RICS Valuation Standards (Red Book), International Financial Reporting Standards (IFRS) and UK GAAP and alongside the years of experience across our Commercial team, our valuations are backed by the latest valuation and appraisal software.