4-7 and 7a Gaolgate Street Stafford Staffordshire ST16 2BG

4-7 and 7a Gaolgate Street
Stafford
Staffordshire
ST16 2BG

High Yielding Freehold Retail/Office Investment & Development Opportunity

Three shops with two floors of self-contained offices above
Let to EE, Game and GPRS Recruitment (on 10 year lease renewal (with options) from May 2019)
Circa 870.97 sq m (9,379 sq ft)
Possible Change of Use opportunity for upper floors (subject to lease and consents)
Asset Management opportunities
Prominent town centre location, facing Market Square and next to Guidhall Shopping Centre
Nearby occupiers include Costa Coffee, Sports Direct, H. Samuel, Holland & Barrett and Boots the Chemist

Lot
30
Auction
21st May 2020
Rent
£91,500 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction
On Behalf of a Charity

Important Update Interested?

Expand
Photos
Map

High Yielding Freehold Retail/Office Investment & Development Opportunity

Three shops with two floors of self-contained offices above
Let to EE, Game and GPRS Recruitment (on 10 year lease renewal (with options) from May 2019)
Circa 870.97 sq m (9,379 sq ft)
Possible Change of Use opportunity for upper floors (subject to lease and consents)
Asset Management opportunities
Prominent town centre location, facing Market Square and next to Guidhall Shopping Centre
Nearby occupiers include Costa Coffee, Sports Direct, H. Samuel, Holland & Barrett and Boots the Chemist

Lot 30
Auction 21st May 2020
Rent £91,500 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of a Charity

Property Information

Location

Miles: 15 miles south of Stoke-on-Trent; 26 miles north-west of Birmingham
Roads: A34, A449, M6
Rail: Stafford
Air: Birmingham Airport

Situation

Stafford, 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 in the heart of Stafford town centre, on the west side of Gaolgate Street, at it's junction with Crabbery Street and opposite Market Square. Nearby retailers include Costa Coffee, Sports Direct, H. Samuel, Holland & Barrett and Boots the Chemist.

Tenure

Freehold.

Location

Miles: 15 miles south of Stoke-on-Trent; 26 miles north-west of Birmingham
Roads: A34, A449, M6
Rail: Stafford
Air: Birmingham Airport

Situation

Tenure

Freehold.

Description

The property comprises three shops arranged on the ground floor and separately accessed offices arranged on first and second floors, accessed from Crabbery Street. The property has recently undergone a major external improvement programme to include new windows, cleaning and re-pointing to all elevations.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at www.acuitus.co.uk.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x
4-5 Gaolgate	Ground	Retail	85.86 sq m	(925 sq ft)	EE LIMITED (1)	5 years from 28/09/2017 until 28/09/2022 (2)	£38,250
6-7 Gaolgate	Ground	Retail	159.46 sq m	(1,717 sq ft)	GAME RETAIL LIMITED (3)	5 years from 25/12/2015 until 24/12/2020	£43,250
7a Gaolgate	Ground	Retail	137.23 sq m	(1,477 sq ft)	VACANT	-	-
First Floor	First	Office	303.33 sq m	(3,265 sq ft)	GIRAFFE PERMANENT RECRUITMENT SPECIALISTS LIMITED (4)	10 years from 22/05/2019 until 21/05/2029 (5)	£10,000
Second Floor	Second	Office	185.09 sq m	(1,995 sq ft)	VACANT	-	-
Total			870.97 sq m	(9,379 sq ft)			£21,000

(1) For the year ending 31st March 2019, EE Limited reported a turnover of £7,149,000,000, pre-tax profits of £1,440,000,000 and shareholder funds of £5,191,000,000 (source: Smart Search 15/04/2020).
(2) The lease was subject to a tenant option to determine on 28/09/2020. This break option was removed, in return for a 3 month rent free period commencing on 29/09/2020.
(3) For the year ending 28th July 2018, Game Retail Limited reported a turnover of £478,242,000, pre-tax profits of £-11,290,000 and shareholder funds of £84,943,000 (source: Smart Search 15/04/2020).
(4) Founded in 2013, GPRS were the fourth-highest recruitment agency across the UK, and the highest-ranking business of any size in Staffordshire (www.gprs.com/about/ 15/05/2020).
(5) The lease is subject to a tenant option to determine on 22/05/2022 and 22/05/2024. The tenant has a Service Charge cap of £2,500 per annum.

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.