18 High Street, Market Drayton, Shropshire TF9 1QB
DOUBLE FRONTED FREEHOLD INVESTMENT PROPERTY
This attractive investment property consists of a large freehold double fronted shop unit that is trading as an Off Licence/Convenience Store with residential accommodation above and at the rear. The property is situated in the heart of the town centre and is a mid terrace unit. Access at the rear is via a right of way from the side road Shropshire Street. There is a residential flat within the premises that can be accessed internally or from the rear. The residential accommodation in our opinion offers great potential to convert to 3 x one bedroom flats with one being on the rear of the ground floor. This would be subject to obtaining any planning consent that may be required. The entire premises is let to a local tenant who we understand has an additional convenience store on a full FRI lease for a term of twenty years from 8th May 2015 at a current rent of £13,500 per annum. The rent reviews are 2025 and 2030. The rent review for 4th April 2019 has been agreed at £16,500 per annum Also there are no break clauses in the lease and therefore this lot will be of interest to investment buyers.
Ground Floor Shop Gross Frontage 28'6" Internal Width 26'2" Shop Depth 35'0 Build Depth 74'0" First Floor Flat Four Large Rooms Ground Floor Rear Kitchen, Bathroom/WC , One Room
LOCAL AUTHORITY & TAX RATING
Shropshire Council 0345 6789000 Shop Rateable Value: £7,100 Flat above Council Tax Band: A
By appointment through the Auctioneers
*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Please note that the following additional fees will apply to the purchase of your property:
1. Buyers Premium of £600 inclusive of VAT
2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to you prior to auction. You will be expected to sign this document as well as the Sales Memorandum at the time of purchase.
3. Stamp Duty - rates easily available on-line
4. Your solicitor fees and any survey fees
5. Insurance - it is your responsibility from the date of exchange to insure the property purchased.