Unbroken retail parade comprising four shops with self-contained offices above
Majority let to The Secretary of State for Work & Pensions
Approximately 12,923 sq ft
Asset management opportunities
Opposite Primark and close to Greggs, JD Wetherspoon, McDonald’s and Superdrug
VAT-free investment
High yielding on Guide Price
Lot 47
Auction 5th December 2018
Rent £97,500 per Annum
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles south of Chester, 31 miles north of Shrewsbury, 54 miles south-west of Manchester
Roads
A525, A534, A483
Rail
Wrexham General, Wrexham Central
Air
Manchester International Airport, John Lennon Airport (Liverpool)
Situation
The property is prominently situated fronting both Regent Street and King Street, in Wrexham town centre. Nearby occupiers include Primark, Greggs, JD Wetherspoon, Superdrug, McDonald’s, Waterstones and Lloyds Bank.
Tenure
Freehold.
Location
Miles
12 miles south of Chester, 31 miles north of Shrewsbury, 54 miles south-west of Manchester
Roads
A525, A534, A483
Rail
Wrexham General, Wrexham Central
Air
Manchester International Airport, John Lennon Airport (Liverpool)
Situation
The property is prominently situated fronting both Regent Street and King Street, in Wrexham town centre. Nearby occupiers include Primark, Greggs, JD Wetherspoon, Superdrug, McDonald’s, Waterstones and Lloyds Bank.
Tenure
Freehold.
Description
The property comprises a substantial building comprising four shops with separately accessed office accommodation on the first and second floors. The upper floors benefit from part comfort cooling suspended ceilings and have a dedicated entrance foyer off King Street.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial building comprising four shops with separately accessed office accommodation on the first and second floors. The upper floors benefit from part comfort cooling suspended ceilings and have a dedicated entrance foyer off King Street.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
1/2 Imperial Buildings
Ground First Second
Retail (sublet) Offices Offices
112.53 sq m 300.65 sq m 431.83 sq m
(1,211 sq ft) (3,236 sq ft) (4,648 sq ft)
THE SECRETARY OF STATE FOR WORK AND PENSIONS (1)
45 years from 28/11/1975 until 27/11/2020
£73,000
3 Imperial Buildings
Ground First
Retail Ancillary
66.36 sq m 67.19 sq m
(714 sq ft) (723 sq ft)
M. KAIUM (2) t/a Perfect Pizza
20 years from 25/12/2012 until 24/12/2032 with rent reviews in December 2022 and December 2027
£13,500
50/52 Regent Street
Ground
Retail/ Ancillary
152.25 sq m
(1,639 sq ft)
GAME RETAIL LIMITED (3)
1 year from 05/03/2018
-
54 Regent Street
Ground
Retail/ Ancillary
69.84 sq m
(752 sq ft)
ASC RETAIL LIMITED t/a The CBD Store/Vape Co.
2 years (tenancy at will) from 29/01/2015
£11,000
Total
1,200.65 sq m
(12,923 sq ft)
£97,500
(1) The Department for Work and Pensions (DWP) is responsible for welfare, pensions and child maintenance policy. As the UK’s biggest public service department, it administers the state pension and a range of working age, disability and ill health benefits to around 20 million claimants and customers (Source: www.gov.uk 02/11/2018). Please note that the tenant is not in occupation and the ground floor shop has been sublet to a tenant trading as Town & Country Estate Agent at a sublet rent of £23,500 per annum. (2) A rent deposit of £6,625 is held by the Vendor. (3) Please note that the tenant occupies the shop by way of a lease outside the provisions of the Landlord and Tenant Act 1954, but only pays rates, insurance and service charge. The lease is subject to a mutual break option at any time on 3 months’ notice.
