9 Cheshire Street Market Drayton Shropshire TF9 1PD

9 Cheshire Street
Market Drayton
Shropshire
TF9 1PD

Freehold Retail Investment

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
Auction Venue
Live Streamed Auction

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Freehold Retail Investment

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

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.