Suitable for alternative leisure use or redevelopment for residential (subject to necessary consents)
Close to the recently completed new Waterfront Leisure Scheme, let to tenants including Nando's and Frankie & Benny's
VAT-free investment
Lot 29
Auction 12th February 2020
Rent £27,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Development
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
Property Information
Location
Miles
8 miles south of Stone
15 miles south of Stoke-on-Trent
26 miles north-west of Birmingham
Roads
A34, A518, M6
Rail
Stafford
Air
Birmingham Airport
Situation
Stafford, the county town of Staffordshire, is located 26 miles north-west of Birmingham. The town benefits from an excellent road network, with junctions 13 and 14 of the M6 located approximately 3 miles to the north and south. The property is located on the south side of Newport Road (A518), one of Stafford's main arterial routes into the town centre, at the southern end of Stafford town centre, at the junctions of Lichfield Road and Bridge Street. The surrounding area comprises retail and leisure use including Yates' Bar and a JD Wetherspoon.
Tenure
Freehold.
Location
Miles
8 miles south of Stone
15 miles south of Stoke-on-Trent
26 miles north-west of Birmingham
Roads
A34, A518, M6
Rail
Stafford
Air
Birmingham Airport
Situation
Stafford, the county town of Staffordshire, is located 26 miles north-west of Birmingham. The town benefits from an excellent road network, with junctions 13 and 14 of the M6 located approximately 3 miles to the north and south. The property is located on the south side of Newport Road (A518), one of Stafford's main arterial routes into the town centre, at the southern end of Stafford town centre, at the junctions of Lichfield Road and Bridge Street. The surrounding area comprises retail and leisure use including Yates' Bar and a JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises a two storey cinema arranged on the ground and first floors to provide three screens with seating for over 600 customers. The property also includes two retail units, both of which are currently let.
VAT
VAT is not applicable to this lot.
Planning
Pre-application (19/31178/PAA) advice has been received from Stafford Borough Council on 6th November 2019 for a multi-storey mixed use conversion for a retail and residential block comprising approximately 305 sq m (3,283 sq ft) of ground floor retail and 25 apartments above in a mix of
21 x one and 4 x two bed units - please see legal pack.
For more information contact Stafford Borough Council:
T: 01785 619000. E: planning@staffordbc.gov.uk
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk
Description
The property comprises a two storey cinema arranged on the ground and first floors to provide three screens with seating for over 600 customers. The property also includes two retail units, both of which are currently let.
VAT
VAT is not applicable to this lot.
Planning
Pre-application (19/31178/PAA) advice has been received from Stafford Borough Council on 6th November 2019 for a multi-storey mixed use conversion for a retail and residential block comprising approximately 305 sq m (3,283 sq ft) of ground floor retail and 25 apartments above in a mix of
21 x one and 4 x two bed units - please see legal pack.
For more information contact Stafford Borough Council:
T: 01785 619000. E: planning@staffordbc.gov.uk
Completion Period
Six Week Completion
EPC
Available from the legal pack at acuitus.co.uk
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Stafford Cinema
Ground & First
Cinema
1,117.00 sq m
(12,025 sq ft)
SAMUEL LAVINGTON t/a Stafford Cinema
3 years from 08/10/2019 (1)
£12,500 rising to £15,000 on 07/10/2020
1 Newport Road
Ground First
Retail/Ancillary Ancillary
27.40 sq m 19.04 sq m
(295 sq ft) (205 sq ft)
FIVEWAYS INSURANCE CONSULTANTS LIMITED (2)
5 years from 25/03/2005 (Holding over)
£9,000
2 Bailey Street
Ground
Retail/Ancillary
17.65 sq m
(190 sq ft)
JOHN ABRAHAM AND BINOY LUKOSE t/a Best Shop
3 years from 13/08/2018
£5,500
Total
1,181.09 sq m
(12,715 sq ft)
£27,000
(1) The lease is subject to a mutual rolling break option which can be served subject to 3 months' notice at any time from 08/10/2020, subject to no less than 90 days' notice. (2) Fiveways Insurance Consultants Limited was established in 1967 and operates from offices in Newport and Stafford.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
