No longer on the market
This property is no longer on the market
MapProperty
Under offer
Property
1856
Features and description
- Total Gross Internal area of 1,856 sq ft (172.43 sq m)
- Initial Yield of 7.84 % after allowing for normal purchaser’s costs
- Prominent location in the town centre of Whitchurch
Description
The property comprises of three prominently located lock up shop units that is arranged over the ground and first floor. The properties provide a rental yield of 7.84% after usual allowing for normal purchaser’s costs.
The property is arranged to provide a fully income producing investment with further asset management potential arranged as three High Street lock up shop units with a shared service area to the rear.
1 High Street provides a Total Internal Floor Area of approximately 169 ft sq (15.68 m sq), 1A High Street provides a Total Internal Floor Area of approximately 765 ft sq (71.1 m sq) and 3 High Street provides a Total Internal Floor Area of approximately 911 ft sq (84.65 m sq). The shop units benefit from separate toilet and welfare facilities and are of traditional construction with glazed shop frontages.
The property provides an ideal spread risk investment for a private individual or property company.
Location
The property is prominently located at the junction of High Street and Watergate in the centre of the sought after town of Whitchurch. The property is located in the established prime retail location within the retail hierarchy serving the town centre with surrounding occupiers including MOO and BOOM, Severn Hospice and Boots.
Whitchurch is a market town in the north of Shropshire, England. It lies 2 miles (3 km) east of the Welsh border, 2 miles south of the Cheshire border, 20 miles (30 km) north of the county town of Shrewsbury, 20 miles (30 km) south of Chester, and 15 miles (24 km) east of Wrexham. At the 2021 census, the population of the Whitchurch Urban parish was 10,141, and the population of the Whitchurch built up area was 9,855. Whitchurch is the oldest continuously inhabited town in Shropshire.[3] Notable people who have lived in Whitchurch include the composer Sir Edward German, and illustrator Randolph Caldecott.
Tenure
The property is held under Title Number SL692694 and is for sale on a freehold basis, subject to the following occupational leases:-
1 High Street - T/a Kaz's Cuts - £5,250p.a. - 6 Year Term from 03.09.2013 on Internal Repairing, Shop front and Insuring terms.
1a High Street - T/a Get Connected - £6,000 p.a. - 5 year term from 16.03.2021 on Internal Repairing, Shop front and Insuring terms.
3 High Street - T/a Benjamin's - £19,625 p.a. - 6 year term from 02.09.2024 on Internal Repairing, Shop front and Insuring terms.
Further details are available from the agents.
Planning
Interested parties should make their own enquiries. The property is understood to benefit from planning for retail use falling within Use Class E.
Services
(Not tested at the time of our inspection.)
We understand that mains water drainage and electricity are connected to the property.
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 three prominently located lock up shop units that is arranged over the ground and first floor. The properties provide a rental yield of 7.84% after usual allowing for normal purchaser’s costs.
The property is arranged to provide a fully income producing investment with further asset management potential arranged as three High Street lock up shop units with a shared service area to the rear.
1 High Street provides a Total Internal Floor Area of approximately 169 ft sq (15.68 m sq), 1A High Street provides a Total Internal Floor Area of approximately 765 ft sq (71.1 m sq) and 3 High Street provides a Total Internal Floor Area of approximately 911 ft sq (84.65 m sq). The shop units benefit from separate toilet and welfare facilities and are of traditional construction with glazed shop frontages.
The property provides an ideal spread risk investment for a private individual or property company.
Location
The property is prominently located at the junction of High Street and Watergate in the centre of the sought after town of Whitchurch. The property is located in the established prime retail location within the retail hierarchy serving the town centre with surrounding occupiers including MOO and BOOM, Severn Hospice and Boots.
Whitchurch is a market town in the north of Shropshire, England. It lies 2 miles (3 km) east of the Welsh border, 2 miles south of the Cheshire border, 20 miles (30 km) north of the county town of Shrewsbury, 20 miles (30 km) south of Chester, and 15 miles (24 km) east of Wrexham. At the 2021 census, the population of the Whitchurch Urban parish was 10,141, and the population of the Whitchurch built up area was 9,855. Whitchurch is the oldest continuously inhabited town in Shropshire.[3] Notable people who have lived in Whitchurch include the composer Sir Edward German, and illustrator Randolph Caldecott.
Tenure
The property is held under Title Number SL692694 and is for sale on a freehold basis, subject to the following occupational leases:-
1 High Street - T/a Kaz's Cuts - £5,250p.a. - 6 Year Term from 03.09.2013 on Internal Repairing, Shop front and Insuring terms.
1a High Street - T/a Get Connected - £6,000 p.a. - 5 year term from 16.03.2021 on Internal Repairing, Shop front and Insuring terms.
3 High Street - T/a Benjamin's - £19,625 p.a. - 6 year term from 02.09.2024 on Internal Repairing, Shop front and Insuring terms.
Further details are available from the agents.
Planning
Interested parties should make their own enquiries. The property is understood to benefit from planning for retail use falling within Use Class E.
Services
(Not tested at the time of our inspection.)
We understand that mains water drainage and electricity are connected to the property.
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.