Property for sale

Bowen are pleased with instructions to offer this centrally located mixed use investment property for sale by private treaty. The property currently comprises of a ground floor retail premises currently let as a gift store, small business platform and collaboration space, while the first floor is comprises of four bedrooms currently let with shared facilities and living space. The total gross rental income is currently £34,500 and further details on the lease agreements in place can be found later in the brochure. The building has excellent frontage onto Beatrice Street, one of the town centre's main routes and was fully refurbished in August 2022, therefore providing an ideal mixed use investment opportunity. Please contact our Oswestry office for further details.

Commercial Sales Space
The ground floor commercial premises is currently let to Under One Roof Oswestry and includes a generously sized sales area which extends to circa 32.76 sq m (353 sq ft), alongside a rear meeting room and facilities which extends to 21.5 sq m (231 sq ft). As previously mentioned, a full refurbishment of the building was completed in August 2022 and this included roof repairs, checking of pointing/chimney stacks, full rewire and improved insulation. The workshop area at back also received new flooring, built in storage cupboards, WC with sink and a kitchenette. The glazing improvements included new sash double glazing on the side of the property and refurbished original glazing with secondary glazing on the front to conform with the conservation area.

First & Second Floor Residential Letting Space
The upper floors extend to circa 112.52 sq m (1,211 sq ft) and incudes 4 bedrooms which are separately let on assured shorthold tenancies, sharing Kitchen facilities, Bathrooms and Living Space. The kitchen includes integrated washing machine, dishwasher, fridge freezer, oven and hob with extractor fan and a flat screen TV on wall. The living space is also well appointed while the Bedrooms were supplied with new bed frames, new mattresses and furniture in August 2022. The property also benefits from a locked and secure bin store/bike storage on ground floor. Details of the current rents paid are included later in the brochure.

Location
The property is situated close to the centre of the busy market town of Oswestry with excellent foot fall passing the front elevation. The town itself has an excellent range of shops, schools and other amenities and is surrounded by picturesque countryside. Easy access on to the A5/A483 provides direct routes to the towns of Shrewsbury, Wrexham and the City of Chester. The nearby train station at Gobowen provides direct links to Manchester and Birmingham.

Commercial Lease & Rent Information
The ground floor commercial premises is currently let to Under One Roof Oswestry at £650 per calendar month. The lease had an agreed 3 year term starting 1st January 2023 with an 18 month break clause. The tenant covers all bills.

Residential Tenancy Information
All four bedrooms are currently let on assured shorthold tenancies and the details are as follows: Bedroom 1: £525.00 per calendar month. Bedroom 2: £600.00 per calendar month. Bedroom 3: £550.00 per calendar month. Bedroom 4: £550.00 per calendar month. As part of the tenancy agreements, the landlords cover the electric, water, internet and council tax bills. For further detail on this, please contact the selling agent.

Rateable Value/Council Tax
Based on enquiries made with the Local Authority, the current Business Rates are as follows: Rateable Value (2023/24) £10,500. Rates Payable (2023/24) £5,240. The residential part of the building has been designated as a Council Tax Band A. Interested parties should make their own enquiries of the local authority.

Services
We are informed that the property is connected to mains electricity, water and drainage supplies.

Tenure
We are informed that the property is freehold, subject to the respective commercial and residential leases/tenancies in place.

VAT
We understand that the property is not elected for VAT and therefore VAT is not payable on this transaction.

Planning
We are informed that the property benefits from use class E of the Town and Country Planning Act and C3 planning on the uppers.

Directions
The property is situated at the end of Leg Street on the corner of Beatrice Street and Albion Hill.
Tenure: Freehold