Shrewsbury, Shropshire, SY1

Description

The property comprises an attractive Grade II Listed period building which is arranged over 3 floors. The property is of traditional brick construction and provides a total internal floor area of approximately 2,942 sq ft (273.3 sqm). The building has been converted and extensively refurbished by the current Tenant to provide an attractive restaurant arranged over the ground and first floor. The Kitchen, office space and WC facilities are on the first floor. The second floor is currently sealed off and can only be accessed via a hatch/ladder (not inspected). There is also a cellar area with access via the ground floor. The property is well-appointed and includes an external seating area overlooking the pedestrianised area of Mardol Head.

Accommodation

Ground Floor = 1,592 sq ft First Floor = 1,096 sq ft Cellar = 254 sq ft Total = 2,942 sq ft

Location

The property occupies a prominent position fronting Mardol Head, close to the prime retail area of Pride Hill and within walking distance of the main public car parks. Nearby occupiers include Moss Bros, O2, Café Nero, Lloyds Bank and Joules Clothing. Shrewsbury is the County Town and administrative centre of Shropshire and is also a popular tourist destination, strategically located at the intersection of the main A49 and A5 trunk roads approximately 47 miles northwest of Birmingham, 15 miles west of Telford and 40 miles south of Chester

Services

Mains water, drainage and electricity services are understood to be connected. Interested parties are advised to make their own enquiries with the relevant utility companies (Not checked or tested).

Terms

Due to the current Tenant looking to retire the property is available by way of assignment or new lease directly from the Landlord. The existing lease expires in April 2032 with a passing rent of £35,000 (exclusive of VAT). As part of the transaction, an incoming occupier will pay a premium of £100,000 (exclusive of VAT) to the current Tenant in lieu of the fixtures & fittings and value associated with a lease in this trading location.

VAT

All figures are quoted exclusive of VAT.

EPC

The property has an EPC rating of D.

Business Rates

At the date of printing, the property was assessed on the Valuation Officer’s website for the 2023 Rating List as follows: Description – Restaurant and premises Rateable Value – £51,500 Interested parties must satisfy themselves with the up-to-date rating assessment via the Valuation Office and in respect of actual Rates Liabilities and potential Reliefs available, with the Local Authority.

Legal Costs

Each party are to be responsible for their own legal fees incurred during this transaction.

Local Authority

Shropshire County Council.

Viewings

By appointment through Berrys. Please contact the agents listed below to arrange an appointment.