Market Street, Craven Arms

** Auction Guide £90,000 - £110,000** Offered for sale by auction, this well-located mixed-use property comprises a ground floor lock-up unit and two self-contained residential flats which is part income producing. Currently generating a total rental income of £12,720 per annum (£8,100 from 12 A and £4,620 from 12B), the property offers an attractive investment with scope to enhance income through asset management in the future. Its balanced mix and strong location make it a compelling opportunity for investors.

Description - This end of terrace mixed-use property presents a well-balanced mixed investment, comprising a ground floor lock-up unit and two self-contained residential flats. Built of traditional brick, the property is part three-storey and part single-storey, with on-street parking and prominent frontage onto Market Street.

Held under Title Number SL53690, the commercial unit is currently vacant. It offers a Net Internal Floor Area of approx. 195 sq ft (18.11 m sq) with ancillary space to the rear.

Accessed via a shared passageway from Market Street, flats 12A and 12B are currently both let on Assured Shorthold Tenancies (AST):

Flat 12A
Arranged over first and second floors
Approx. GIA: 638 sq ft (59.25 m sq)
Layout: 2 bedrooms, kitchen/diner, sitting room, bathroom
Rent: £8,100 per annum (AST)

Flat 12B
Rear single-storey extension
Approx. GIA 347 sq ft (32.27 m sq)
Layout: 1 Bedroom, Kitchen, sitting room, shower room
Rent: £4,620 per annum (AST)

Currently generating a total income of £12,720 per annum, with further income potential through letting the shop unit, this part let property offers a strong income stream with clear scope for rental growth and asset management upside.

Location - Nestled in the heart of Craven Arms town centre, this mixed-use investment property commands a prime position on Market Street, close to the junction with Dale Street. It benefits from the surrounding mixed-use character, with nearby neighbours including Severn Hospice, Pet Supplies and The Paper Shop, creating a vibrant and well-supported commercial environment.

Key Location Highlights:

• Situated directly on the A49, it offers fast road links to Shrewsbury to the north and Ludlow to the south.
• The nearby Craven Arms railway station sits at the junction of the Welsh Marches and Heart of Wales lines. Frequent Transport for Wales services connect to Manchester, Birmingham, Cardiff, Carmarthen, and Swansea.
• A popular visitor destination, the town lies close to the Shropshire Hills Area of Outstanding Natural Beauty and benefits from tourist traffic drawn to attractions such as the Shropshire Hills Discovery Centre and Stokesay Castle.
• Census data indicates a strong owner-occupier housing market, with approximately 69.5% of residents owning their homes, well above national averages.

Craven Arms combines the best of rural charm and strategic transport links, forming a dynamic economic and visitor hub. The property’s central location on Market Street places it at the intersection of commerce, community and connectivity - making it an exceptionally strong investment opportunity with built-in income and full potential for further asset-enhancement

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Accommodation - ALL MEASUREMENTS ARE APPROXIMATE

Commercial - Retail Unit

Total Net Internal Floor Area of 195 sq ft (18.11 m sq) with ancillary welfare facilities

Residential

12A Flat
Ground Floor Entrance
First Floor: Kitchen/Dinner, Living Room
Second Floor: Two Bedrooms, Bathroom
Total Gross Internal Area of 638 sq ft (59.25 m sq)

12B Flat
Ground Floor: Kitchen, Living Room, Bedroom, Shower room
Total Gross Internal Area of 347 sq ft (32.27 m sq)

Tenure - The property is owned under the title number SL53690

The property is offered for sale subject to the existing occupational tenancies in Flats 12A & 12B

Business Summary - Commercial: Ground Floor Shop (Vacant)

Residential
12A
Agreement Type: Assured Shorthold Tenancy (AST)
Rent: £8,100 per annum
Current Status: Holding Over

12B
Agreement Type: Assured Shorthold Tenancy (AST)
Rent: £4,620 per annum
Current Status: Holding Over

Services - (Not tested at the time of inspection)
All main services are connected to the property. It is understood that the shop and both flats have separately sub metered supplies

Planning - The prospective purchaser should make their own enquiries. The property is understood to benefit from planning for Use Class E for the ground floor unit and basement, and C3 for the residential flats of the Town and Country Use Classes Order 1987.

Town And Country Planning - The land will be sold subject to any development plan, tree preservation order, town planning schedule, resolution or notice which may be or come to be in force, subject to any road widening or improvement schemes, land charges and statutory or provisional by-laws without any obligation on the vendor to specify them.

Boundaries, Roads & Fences - The Purchasers shall be deemed to have full knowledge of the boundaries and roads and neither the Vendor nor the Agent will be responsible for defining the ownership of boundary hedges or fences

Conditions Of Sale - Please note that the property is sold in accordance with the Common Auction Conditions [4th Edition March 2018] (a copy of which is included with the Legal Pack). Special Conditions of Sale relating to each lot are available upon request from the Auctioneers or the Vendors Solicitor prior to the auction. The contract and special conditions of sale will not be readout by the auctioneers at the auction but will be available for inspection at the auctioneer’s offices or the vendors solicitors for a period before the auction date. Purchasers will be deemed to have inspected these Special Conditions of Sale and will be legally bound by these conditions which will form part of and will be attached to the Sale Memorandum.

Money Laundering Regulations - PLEASE NOTE that any person buying or bidding at auction MUST produce TWO forms of *identification documentation. One to confirm their name and residential address, i.e. utility bill or bank statement and one photo ID, i.e. passport or driving licence. We will be unable to accept your bid unless you have registered with us and produced suitable ID.

Bidding On Behalf Of Another Party - Where a person registers to bid on behalf of another individual or entity (the “Ultimate Purchaser”), the Auctioneers must be notified in advance of the auction. The bidder will be required to provide a valid, signed letter of authority from the Ultimate Purchaser confirming they are authorised to bid on their behalf. In addition, full identification and verification checks must be completed on the Ultimate Purchaser in accordance with anti-money laundering regulations prior to the auction. The individual attending and bidding must also produce satisfactory identification on the day. The Auctioneers reserve the right to refuse registration and/or any bid where these requirements have not been fully satisfied.

Rights Of Ways, Easements/Way Leave - The land will be sold subject to any wayleaves, public or private rights of way, easements and covenants and all outgoings whether mentioned in the sales particulars or not.

Payment Deposit - The successful buyer of each lot will be required to pay a deposit of 10% of the purchase price (subject to a minimum of £1,000) to the vendors’ solicitor prior to leaving the saleroom. Any deposit payments collected by Halls Holdings Limited will incur a 1% service charge. PLEASE NOTE THAT WE DO NOT ACCEPT ANY FORM OF CASH DEPOSIT OR CREDIT CARDS.

Buyers Premium - In addition to the contract deposit required, buyers should note when bidding, that on the fall of the gavel, they will be responsible for paying a Buyer’s Premium as noted on individual lots. This is additional to the purchase price and set at 2.5% plus VAT of the “hammer price”, subject to a minimum fee of £3,000 plus VAT (£3,600). Please bring with you the means to pay both the deposit and the buyers premium.

Guide Price/Reserve - £105,000 (one hundred and five thousand pounds) (exclusive)
*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 during the auction] which we expect will be set within the Guide Range or no more than 10% above a single figure guide. The property is offered for sale by public auction on Friday 1st May at 2pm at Halls Holdings House, Bowmen Way, Battlefield, Shrewsbury, Shropshire, SY4 3DR

Business Rates - We have made online enquiries to the local authority and were advised as follows:

Rateable Value = £2,375

Vat - The property is not elected for VAT, therefore VAT would not be payable on the purchase.

Council Tax - 12A: A
12B: A

Epc - Commercial: Commissioned
12A: D
12B: Commissioned

Legal Costs - On application. Solicitors: PCB Solicitors LLP, Shrewsbury Business Park, Cypress Centre, Sitka Drive, Shrewsbury, SY2 6LG. (Contact - Rachel Wierzbinski, email: rachel. )

Local Authority - Shropshire Council, The Guildhall, Frankwell Quay, Shrewsbury, SY3 8HQ. Contact: