Retail premises for sale

Beatrice Street, Oswestry SY11

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 secondary retailing part of the town, but close to a number of major occupiers such as The Range/Wilko/Iceland and Aldi
Description


This building was substantially refurbished and converted in 2011 following purchase, to include a new roof.

No.56 Beatrice Street - Ground Floor

Ground floor shop with WCs, kitchenette and front security grill. One allocated car space to the rear.

Let to Oswestry and Borders Food Bank, and principally used as the food assembly base and food distribution outlet.

No.58 Beatrice Street – Ground Floor

Also let to Oswestry and Borders Food Bank, with WCs, kitchenette and front security grills. This unit is used for offices and as an advice centre.
Residential accommodation


A shared communal staircase at the rear, giving access to a shared flat roof patio area, leading to No’s 56a and 58a Beatrice Street.

No.56a Beatrice Street – Maisonette

Entrance door to hallway, fitted kitchen and living room. Stairs to the double bedroom and bathroom. Gas central heating system.

No.58a Beatrice Street – Maisonette

Entrance door to hallway, fitted kitchen/sitting room, double bedroom. Stairs to a further double bedroom and bathroom. Gas central heating system.
Outside Areas and Garaging

This includes parking space/yardage to create 1, potentially 2 parking spaces for the ground floor shops, and 2 good sized garages allocated to the maisonettes, both with up and over doors. Some neighbours have rights of way, pedestrian/vehicles over the titled area.
Rent and lease terms


Please see the Tenancy Schedule below, tenant accommodation lease terms current rent market rent

Oswestry and Borders Food Bank 56 Beatrice Street
Front Internal Width 5.3m
NIA Sales 60.19 m.sq. / 648 sq.ft.
NIA Stores 27.51 m.sq. / 296 sq.ft.
Itza Sales 497 sq.ft. 6 Year iri lease with 3 year rr. £750 pcm / £9,000 p.a. £9,000 p.a.
Oswestry and Borders Food Bank 58 Beatrice Street
Front Internal Width 5.23 m
NIA Sales 57.3 m.sq. / 617 sq.ft.
Niia Storage –
itza Sales 479 sq.ft. Iri lease expiring on 7thy March 2028 with annual RRs. £650 pcm / £7,800 p.a. £7,800 p.a.
Private Tenant 56a Beatrice Street - Maisonette and garage. 1 Car space. AST – 23/2/2018 £475 pcm / £5,700 p.a. £625 pcm / £7500 p.a.
Private Tenant 58a Beatrice Street – Maisonette and garage AST – 11/12/24 £650 pcm / £7,800 p.a. £700 pcm / £8400 p.a.
Total Current Rent Payable £30,300 p.a. £32,700 p.a.

Note

Both commercial leases are contracted out of the security of tenure provisions, encompassed in Sections 24-28 of the 1954 Landlord and Tenant Act.

Market rents – These market rents are purely the opinion of the selling agents. Interested parties must obtain their own advice upon which they can rely, or form their own opinions as to market rent.

Iri = Internal Repairing and insuring. AST = Assured Shorthold Tenancy.
Business rates and council tax


The rateable values of the shops are:

56 Beatrice Street £7,900,58 Beatrice Street £7,000
56a Beatrice Street Band A
58b Beatrice Street Band A

Interested parties should speak to the Local Council – Shropshire Council on, to ascertain what level of business rates will be applicable. Concessions may apply.
Terms of offer


For the freehold interest, subject to the tenancies as indicated, a price in the region of £375,000 is asked, and at this level, the rents represent an attractive initial gross yield of 8.1% gross, with a potential reversionary yield of 8.72% gross, assuming the above market rents are achieved.
VAT


We are advised that the property is
EPC rating


EPCs have been commissioned and will be available shortly.
Viewing


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