Freehold Retail Investment in Affluent Market Town
Three retail units with tenants including Timpson Limited
Located on prime pedestrianised retail thoroughfare
Situated approximately 20 metres from the Market Shopping Centre and 65 metres from Victoria Shopping Centre
Nearby occupiers include BHS, JD Sports, Lloyds TSB, Top Shop and Santander
Six Week Completion Period Available
Lot 44
Auction 18th October 2011
Rent £32,050 per Annum Exclusive
Status Sold
Price £264,000
Sector High Street Retail
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Warnford Properties Ltd
Property Information
Location
Miles
15 miles north-west of Stoke-on-Trent, 36 miles south of Manchester, 47 miles south-east of Liverpool
Roads
A530, A34, A500, M6 (Junction 16)
Rail
Crewe Railway Station
Air
Manchester International Airport
Situation
The property is situated in a prominent location on the eastern side of Queensway Street at its junction with Victoria Street, one of the town's prime pedestrianised thoroughfares. The property benefits from its proximity to Market Shopping Centre which houses occupiers such as River Island, Dorothy Perkins and Clinton Cards, and Victoria Shopping Centre which houses occupiers such as Ryman Stationers, Jessops and Mothercare.
Tenure
Freehold.
Location
Miles
15 miles north-west of Stoke-on-Trent, 36 miles south of Manchester, 47 miles south-east of Liverpool
Roads
A530, A34, A500, M6 (Junction 16)
Rail
Crewe Railway Station
Air
Manchester International Airport
Situation
The property is situated in a prominent location on the eastern side of Queensway Street at its junction with Victoria Street, one of the town's prime pedestrianised thoroughfares. The property benefits from its proximity to Market Shopping Centre which houses occupiers such as River Island, Dorothy Perkins and Clinton Cards, and Victoria Shopping Centre which houses occupiers such as Ryman Stationers, Jessops and Mothercare.
Tenure
Freehold.
Description
The property comprises three self-contained retail units arranged over ground and first floor.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises three self-contained retail units arranged over ground and first floor.
VAT
VAT is applicable to this lot.
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
Review/(Reversion)
18 Victoria Street
Ground First
Retail Ancillary
63.24 sq m 47.18 sq m
(681 sq ft) (508 sq ft)
CARD & PARTY STORE (CASH & CARRY) LIMITED (t/a Card Express) (1)
A licence renewal from 01/10/2011 until 31/12/2011 (2)
£7,800 (3)
20 Queensway
Ground First
Retail Ancillary
19.05 sq m 12.63 sq m
(205 sq ft) (136 sq ft)
TIMPSON LIMITED (4)
5 years from 16/04/2004 on a full repairing and insuring lease (5)
£12,250
(15/04/2009)
22 Queensway
Ground First
Retail Staff
18.02 sq m 13.66 sq m
(194 sq ft) (147 sq ft)
M W RHEAD &S RHEAD(t/a HumbugsTraditional SweetShop)
3 years from 21/04/2009 on a full repairing and insuring lease
£12,000
(20/04/2012)
Totals
173.78 sq m
(1,871 sq ft)
£32,050 (subject to Note 3)
(1) The licensee has been in occupation since 5th November 2009 and has lodged an initial deposit of £1,000 with the seller. (2) The licence is for a term certain of 3 months with a right to determine by either party on 1 month's notice thereafter. (3) The licensee is paying a licence fee of £1,950 for a 3 month period. This figure is an annualised figure assuming the licensee continues to renew. (4) For the year ending 2nd October 2010, Timpson Limited reported a turnover of £91,782,000, pre-tax profits of £3,752,000 and a total net worth of £36,731,000. (Source: www.riskdisk.com 08/09/2011). (5) The tenant is holding over.
Contacts
Associate Auctioneers
Buckinghams 8 Chantry Court, Forge Street Crewe CW1 2DL
