Specsavers 53 New Street Wellington Telford TF1 1LU

Specsavers
53 New Street
Wellington
Telford
TF1 1LU

Freehold Retail Investment

Prominent position on the towns main pedestrianised retail thoroughfare
Let to Specsavers Optical Superstores Limited on a renewed lease until 2021 (subject to option)
Nearby occupiers include Nationwide, Iceland, Specsavers, British Heart Foundation and Barnardos
Six Week Completion Available

Lot
40
Auction
10th July 2012
Rent
£16,500 per Annum Exclusive
Status
Sold
Price
£200,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Retail Investment

Prominent position on the towns main pedestrianised retail thoroughfare
Let to Specsavers Optical Superstores Limited on a renewed lease until 2021 (subject to option)
Nearby occupiers include Nationwide, Iceland, Specsavers, British Heart Foundation and Barnardos
Six Week Completion Available

Lot 40
Auction 10th July 2012
Rent £16,500 per Annum Exclusive
Status Sold
Price £200,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 4 miles west of Telford 10 miles east of Shrewsbury 29 miles north-west of Birmingham
Roads: A5, A442, M54
Rail: Wellington (Shropshire) Rail
Air: Birmingham International Airport

Situation

Wellington is situated between the towns of Telford and Shrewsbury and is well connected via the M54. The property is prominently situated on the north side of the pedestrianised New Street, Wellington’s main retail thoroughfare, which is close to Wellington Rail Station and runs from the bus station to Market Square. Nearby occupiers include Nationwide, Iceland, Specsavers, British Heart Foundation and Barnardos.

Tenure

Freehold.

Location

Miles: 4 miles west of Telford 10 miles east of Shrewsbury 29 miles north-west of Birmingham
Roads: A5, A442, M54
Rail: Wellington (Shropshire) Rail
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property comprises retail accommodation on the gorund floor with ancillary accommodation on the 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 retail accommodation on the gorund floor with ancillary accommodation on the 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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First	Retail Ancillary	234.0 sq m 60.3 sq m	(2,519 sq ft) (649 sq ft)	SPECSAVERS OPTICALSUPERSTORES LIMITED (1) (2)	10 years from 25/11/2011 on a full repairing and insuring lease (3)	£16,500	2016
Totals		294.3 sq m	(3,168 sq ft)			£16,500

(1) For the year ending 28th February 2011, Specsavers Optical Superstores Limited reported a turnover of £390,791,000, pre-tax profits of £21,261,000 and total net worth of £80,512,000. (Source: www.riskdisk.com 12/06/2012)
(2)The tenant has occupied this property since 2007 when they took on assignment of the previous lease.
(3)The lease provides for a tenant option to determine the lease on the 5th anniversary of the term, with 6 months’ prior written notice.