9 Tower Street Ludlow Shropshire SY8 1RL

9 Tower Street
Ludlow
Shropshire
SY8 1RL

Freehold Convenience Store Investment

Let to One Stop Stores Limited - a part of Tesco Plc
New 10 year lease renewal from February 2019 (subject to options)
Approximately 407.60 sq m (4,388 sq ft)
Includes the town centre’s only Post Office
Nearby occupiers include Boots the Chemist, Specsavers, Edinburgh Woollen Mill and Costa Coffee

Lot
2
Auction
4th April 2019
Rent
£38,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Convenience Store Investment

Let to One Stop Stores Limited - a part of Tesco Plc
New 10 year lease renewal from February 2019 (subject to options)
Approximately 407.60 sq m (4,388 sq ft)
Includes the town centre’s only Post Office
Nearby occupiers include Boots the Chemist, Specsavers, Edinburgh Woollen Mill and Costa Coffee

Lot 2
Auction 4th April 2019
Rent £38,000 per Annum Exclusive
Status Sold Post
Price
Sector
Supermarket/Convenience
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 24 miles north of Hereford; 29 miles south of Shrewsbury; 36 miles west of Birmingham
Roads: A49, A456
Rail: Ludlow Train Station
Air: Birmingham Airport

Situation

Ludlow is an attractive market town in Shropshire, 29 miles south of Shrewsbury and 36 miles west of Birmingham. The town is served by the A49, providing access to the A5 and M54 to the north and the M50 to the south. The property is located on the northern side of Tower Street, close to its junction with Lower Galdeford and Upper Galdeford. Nearby occupiers include Boots the Chemist, Edinburgh Woollen Mill, Specsavers and Costa Coffee. To the rear of the property is a large public car park.

Tenure

Freehold.

Location

Miles: 24 miles north of Hereford; 29 miles south of Shrewsbury; 36 miles west of Birmingham
Roads: A49, A456
Rail: Ludlow Train Station
Air: Birmingham Airport

Situation

Tenure

Freehold.

Description

The property is arranged on the ground and first floors and provides a ground floor convenience store with integral sub-post office, which is the only post office in the town centre. The first floor provides ancillary accommodation.

VAT

VAT is applicable to this lot.

EPC

Band D

Description

VAT

VAT is applicable to this lot.

EPC

Band D

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First	Retail/Ancillary Ancillary	387.55 sq m 20.05 sq m	(4,172 sq ft) (216 sq ft)	ONE STOP STORES LIMITED (1)	10 years from 20/02/2019 until 19/02/2029 on a full repairing and insuring lease (2)	£38,000	20/02/2024
Total		407.60 sq m	(4,388 sq ft)			£38,000

(1) For the year ending 24th February 2018, One Stop Stores Limited reported a turnover of £1,068,992,000, pre-tax profits of £20,141,000 and a total net worth of £129,356,000 (Source: Experian Group 21/02/2019). One Stop Stores Limited is a retail convenience business with over 770 company operated neighbourhood stores across England, Wales and Scotland (Source: www.openaonestop.co.uk).
(2) There is a tenant option to determine the lease on 20th February 2022 and 20th February 2024. If the tenant serves notice to determine the lease in February 2022, the tenant shall pay a rent penalty equivalent to a year’s rent.