Retail premises for sale

Beatrice Street, Oswestry SY11

Investment

location


Oswestry, Shropshire’s third largest town, with a former Borough population of approximately 33,0000, and town population of approximately 17,500, has a wealth of character and facilities to offer. There are a range of multiple retailers in the town, to include Boots, Superdrug, W H Smith, Poundland, Peacocks, Prezzo, Home Bargains, Costa, Greggs and others, together with operating banks.

These premises are well located in a good secondary retailing part of the town, but close to other major occupiers such as The Range and Aldi.
Description


The premises have been subject to, we understand, recent redecoration and overhaul of the roof, and with the premises providing ground floor retail (divisible into two).

The accommodation comprises:-

32-34 Beatrice Street - Ground Floor Shop/Photography Studio

Existing staircase, currently locked and unused between Shop Area 1 to upper floor Flat B. The shop currently operates under one tenancy, but could be divided into two, with some alterations/additions and subject to permissions.

34a Beatrice Street – Independent Apartment

First floor apartment with separate staircase from side, providing the following approximate accommodation:-

Sitting Room (4.37m x 2.87m)
Kitchen (3.58m c 3.03m) with single drainer sink unit, washing machine recess, cooker recess, range of storage cupboards with work surfaces.
Shower Room with electric shower, WC and wash basin.
Double Bedroom (3.31m x 4.88m)
Office/Single Bedroom (1.93m x 2.19m)
Hallway (2.3m x 1m) with two built in storage cupboards.

Gas fired central heating system and carpeting.

34b Beatrice Street – First Floor Apartment

Independent apartment with staircase from rear, leading to first and second floor. Approximate accommodation as follows:-

Sitting Room (4.98m x 3m)
Kitchen/Dining Room (4.34m x 3.8m) fitted with single drainer sink unit, recess for washing machine, fitted hob and oven, electric wall heater.
Bathroom with WC, wash basin, bath with shower.
Hallways with walk in cupboards.
Double Bedroom (2.93m x 3.33m)
Walk Thru Bedroom (3.45m x 4.15m) with storage area of 1.29m x 4.58m

Electric heating and carpeting.
Rent and lease terms


Tenant Accommodation Lease Terms Current Rent Market Rent

32-34 Beatrice Street
Independent Photographer with use as photography studio Shop Area 1
44.38 m.sq. / 478 sq.ft.
Shop Area 2
40.28 m.sq. /
433 sq.ft.

Shops currently combined, with total NIA Approx. 84.66 m.sq. / 911 sq.ft. Iri outside Sections 24-28 of 1954 Landlord and Tenant Act. 3 Years from 2/11/20. Tenant holding over £4540 pcm /
£5400 p.a. Granted as a concession As a whole £600 pcm / £7200 p.a.

Shop Area 1
£375 pcm / £4,500 p.a.
Shop Area 2
£333 pcm / £4,000 p.a.

34a Beatrice Street First floor apartment, double bedroom and office/bedroom Simple agreement with relative of landlord who is due to relocate £350 pcm /
£4,200 p.a. £550 pcm / £6,600 p.a.
34b Beatrice Street First and second floor, two bedrooms, extremely spacious AST 6 months from 9/12/22 £495 pcm /
£5,940 p.a. £650 pcm / £7,800 p.a.
£15,540 p.a. £21,600 p.a.

The above rents may be achievable following a full compliant conversion by the landlord. Interested parties need to arrive at their own opinions as to market rent. Iri = Internal Repairing Lease. AST – Assured Shorthold Tenancy. NIA = Net Internal Floor Area.
Terms of offer


For the freehold interest, subject to the above tenancies, a price in the region of £225,000 is asked Based upon our market rents, to include a single letting of the shop, producing a total rent of £21,600 p.a., this produces a gross yield of 9.6%. If the shop were divided into two, then following further alteration and expenditure, the level of rental should increase.
VAT


We understand that the property is not elected for VAT.
Business rates


The building has the following rating assessments, which interested parties should confirm with Shropshire Council on .

32-34 Beatrice Street £ 2026 Assessment
34a Beatrice Street Band A
34b Beatrice Street Band A
EPC rating


32-34 Beatrice Street

34a Beatrice Street Rating D

34b Beatrice Street Rating E
(Known as The Flat)
Viewing


Please contact the agents: Celt Rowlands & Co. On or