1A Abbey Foregate, Shrewsbury

For Sale - Retail Investment Let to a national covenant with an attached property suitable for residential conversion (subject to statutory consents).

Location - The property is situated fronting onto Horsefair in Abbey Foregate on the edge of Shrewsbury Town Centre, where all local amenities are available. Shrewsbury also benefits from being a historic and tourist centre.

The property comprises of a part two storey and part single storey property which is currently trading as a betting office for William Hill. To the rear of the property there is a two storey property, which is sold with vacant possession, which is in need of a comprehensive scheme of refurbishment works. The property benefits from vehicular access from Horsefair and would lend itself to a variety of uses subject to the receipt of the relevant statutory consents.

The property is understood to be Grade II listed.

Accommodation - All measurements are approximate.

1A Horsefair

Ground Floor
Sales Area 1276 ft ²
Staffroom 41 ft² (3.81 m²)
Staff Toilet
Toilet
Disabled Toilet

First Floor
Stores 945 ft² (98.78 m²)

Rear Structure (Dilapidated)

Ground Floor 743 ft²(69.02 m²)
First Floor 743 ft²(69.02 m²)

Epc - Current Rating - Expired 5th July 2022 - D (85)

Rateable Value - Verbal enquiries were made to the charging authority and we were advised as follows:- Unit 1A(Rateable Value £20,750)

Tenure - The freehold interest in the property is sold subject to the following occupational tenancy.

Ground and First Floors to 1A Horsefair
Tenant - Camec Limited
Lease Commencement Date - 12th April 2005
Lease Expiry Date - 11th April 2025
Rent Review/Tenants Option to Determine - 12th April 2015 (the rent review for 12th April 2015 has not been initiated)
Repairing Obligations - Full Repairing and Insuring
Rent - £13,250

Property at Rear
Vacant Possession

Services - (Not Tested)

Mains Water, electricity and drainage are understood to be connected to the property

Vat - It is understood that the property is elected for VAT, therefore VAT would be payable on the purchase.

Local Authority - Shropshire Council
Guildhall
Frankwell Quay
SY3 8HQ