Let to a charity shop (t/a Newlife The Charity For Disabled Children)
Lease expires on 24/05/2025
2023 Tenant break option not exercised
Approximately 3,259 sq ft
Nearby occupiers include Costa Coffee, Greggs, Asda, Iceland, Boots the Chemist, JD Wetherspoon and Domino's Pizza
Lot 30
Auction 16th February 2023
Rent £12,000 per Annum Exclusive (1)
Status Sold
Price £116,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
16 miles south-west of Stoke-on-Trent, 31 miles south-east of Chester, 48 miles north-west of Birmingham
Roads
A41, A53, A529
Rail
Prees, Whitchurch (Salop)
Air
Manchester Airport
Situation
The property is situated in the heart of Market Drayton's town centre, 300 yards from Market Hall Shopping Centre, and close to Frogmore Road Car Park, with over 40 car parking spaces. Nearby occupiers include Costa Coffee, Greggs, Asda, Iceland, Boots the Chemist, JD Wetherspoon and Domino's Pizza.
Tenure
Freehold.
Location
Miles
16 miles south-west of Stoke-on-Trent, 31 miles south-east of Chester, 48 miles north-west of Birmingham
Roads
A41, A53, A529
Rail
Prees, Whitchurch (Salop)
Air
Manchester Airport
Situation
The property is situated in the heart of Market Drayton's town centre, 300 yards from Market Hall Shopping Centre, and close to Frogmore Road Car Park, with over 40 car parking spaces. Nearby occupiers include Costa Coffee, Greggs, Asda, Iceland, Boots the Chemist, JD Wetherspoon and Domino's Pizza.
Tenure
Freehold.
Description
The property comprises a shop arranged on the ground and first floors.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1.5% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
Band B
Description
The property comprises a shop arranged on the ground and first floors.
VAT
VAT is applicable to this lot.
Note
Please note the buyer will pay 1.5% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
Band B
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (2)
Floor Areas Approx sq ft (2)
Tenant
Term
Rent p.a.x. (1)
Rent Review
Ground First
Retail/Ancillary Ancillary
260.81 42.00
(2,807) (452)
NEWLIFE THE CHARITY FOR DISABLED CHILDREN (3) (t/a Newlife Market Drayton)
5 years from 25/05/2020 on a full repairing and insuring lease
£12,000
25/05/2023
Total
302.81
(3,259)
£12,000
(1) The current rent passing under the terms of the lease is £12,000 per annum. The rent will reduce to £10,500 per annum in May 2023 as a result of the tenant not exercising their break option this year. The rent will increase to £13,500 per annum if the tenant assigns or sublets the property. (2) Areas provided by VOA (www.voa.gov.uk) (3) www.newlifecharity.co.uk - a charity for Disabled Children
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.
