13 High Street Shrewsbury Shropshire SY1 1SP

13 High Street
Shrewsbury
Shropshire
SY1 1SP

Freehold High Street Retail Investment

Let on a Renewed Lease to Crew Clothing Co. Limited until 2028 (Subject to Option)
High Street Location in Attractive and Historic Market Town
Approximately 326.60 sq m (3,515 sq ft)
Nearby Occupiers Include Boots, Holland & Barrett, White Stuff, Fat Face and an Eclectic Mix of Local Retailers

Lot
41
Auction
13th July 2023
Rent
£30,000 per Annum Exclusive
Status
Sold
Price
£380,000
Auction Venue
Live Streamed Auction

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Freehold High Street Retail Investment

Let on a Renewed Lease to Crew Clothing Co. Limited until 2028 (Subject to Option)
High Street Location in Attractive and Historic Market Town
Approximately 326.60 sq m (3,515 sq ft)
Nearby Occupiers Include Boots, Holland & Barrett, White Stuff, Fat Face and an Eclectic Mix of Local Retailers

Lot 41
Auction 13th July 2023
Rent £30,000 per Annum Exclusive
Status Sold
Price £380,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 35 miles north-west of Birmingham
Roads: A5, A49, A458
Rail: Shrewsbury Station
Air: Birmingham Airport

Situation

Shrewsbury is an attractive and historic market town, and the largest town in Shropshire. The property is situated in the heart of the town centre on the east side of High Street close to its junction with Grope Lane. Neighbouring occupiers include Boots, Holland & Barrett, White Stuff, FatFace and an eclectic mix of local retailers.

Tenure

Freehold.

Location

Miles: 35 miles north-west of Birmingham
Roads: A5, A49, A458
Rail: Shrewsbury Station
Air: Birmingham Airport

Situation

Tenure

Freehold.

Description

The property is an attractive Grade II listed period building comprising a ground floor retail accommodation with ancillary accommodation in the basement and on the first, second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

See legal pack

Description

The property is an attractive Grade II listed period building comprising a ground floor retail accommodation with ancillary accommodation in the basement and on the first, second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

See legal pack

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	(Reversion)
Ground Basement First Second Third	Retail Ancillary Ancillary Ancillary Ancillary	114.43 47.43 68.78 51.06 44.90	(1,232) (511) (740) (550) (483)	CREW CLOTHING CO. LIMITED (2) (crn:03265824)	Let for a term of 5 years from 20/03/2023 on a Full Reparing and Insuring lease (3)	£30,000	(20/03/2028)
Total Approximate Floor Area		326.60	(3,516)			£30,000

(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/8096313000)
(2) Crew Clothing Co. is a UK-based clothing retailer that specialises in luxury British casual wear for men, women and children - with 105 stores across the UK (www.crewclothing.co.uk). For the year ending 26/12/2021, Crewe Clothing Co. Limited, reported a turnover of £82,728,000, pre-tax profits of £17,112,000 and a net worth of £22,284,000 (Northrow Company Report - 05/06/2023).
(3) The lease provides for a tenant option to determine the lease on 20/03/2026. In the event the tenant exercises their tenant option to determine the lease, the tenant will pay a penalty of £15,000 to the landlord. The tenant has been in occupation of the property since January 2016. The lease provides for a 3 month rent free period from the start of the fourth year of the term in the event the tenant does not exercise their option to determine the lease on 20/03/2026. Please see legal pack for more information.

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.