Castle Street, Ludlow

The property comprises an attached four-storey building of traditional brick construction beneath a slate tile roof covering. The ground floor provides a retail unit with a basement, while the upper floors comprise of six residential flats, which have been sold off on long leaseholds of approximately 125 years. The retail unit benefits from a fully glazed frontage at ground-floor level.

The property comprises an attached four-storey building of traditional brick construction beneath a slate tile roof covering. The ground floor provides a retail unit with a basement, while the upper floors comprise of six residential flats, which have been sold off on long leaseholds of approximately 125 years. The retail unit benefits from a fully glazed frontage at ground-floor level.

The ground floor is currently fitted out as a bookmaker and provides a Total Net Internal Sales Area of approximately 1,087 sq ft (100.17 sq m), with additional stores, offices and welfare facilities extending to a Net Internal Area of 674 sq ft (62.64 sq m). The property also benefits from a basement providing a Total Gross Internal Area of 713 sq ft (66.24 sq m).

The property provides retail investment opportunity within the popular market town of Ludlow. The full potential can only be fully appreciated through an internal inspection.

The property occupies a prominent position fronting onto Castle Street, forming part of Castle Square in the heart of Ludlow town centre. Located on the North-East side of Castle Street, the property benefits from access via both High Street and Mill Street.

Castle Square is a prime retail location in the retail hierarchy serving the town. The neighbouring occupiers including The White Company, Savers and Loungers.

The property also benefits from close proximity to a public car park and is served by public transport.

Ludlow is the administrative centre for South Shropshire with a diverse local economy supporting retail, professional services, hospitality and tourism. Situated on the A49, Ludlow lies approximately 34 miles from Shrewsbury and 24 miles from Hereford, with regular bus services and a railway station on the Welsh Marches Line within walking distance of the town centre.

The town is renowned for its historic character, food culture and attractions including Ludlow Castle and the Buttercross, attracting visitors year-round. Ludlow has a population of circa 11,000 and offers a full range of amenities, independent retailers, cafés, restaurants and leisure facilities. Ludlow offers a strong commercial location underpinned by a robust local economy, significant tourist appeal and an affluent catchment.

(All measurements are approximate)

Total Net Internal Sales Area - 1,087 sq ft (100.17m sq)

Ancillary Storage and Offices - 674 sq ft (62.64m sq)

Basement Total Gross Internal Area - 713 sq ft (66.24m sq)

The property is held under the ownership of Title Number SL139034.

The property is freehold and is to be sold subject to the following occupational tenancies;

The upper floors comprise six residential flats, which have been sold on 125-year long leases at a ground rent of £100 per annum, subject to periodic increases.

(A copy of the lease is available upon request from the selling agents)

Price - Offers in the Region of £410,000 (Four Hundred and Ten Thousand Pounds) (exclusive) showing a Net Initial Yield after normal purchasers' costs of 8.47%

Vat - The property is understood not to be elected for VAT.

Rateable Value - To be confirmed

Epc - To be assessed

Services - (Services have not been tested at the time of inspection prospective purchasers to rely on their own enquiries)

It is understood the property is connected to all mains services.

Planning - (Prospective Purchasers to rely on their own enquiries)
The property is understood to benefit from planning consent for Use Class E and C3 of The Town and Country Use Classes Order 1987.

Legal Costs - Each party is to be responsible for their own legal costs in relation to the transaction.

Local Authority - Shropshire Council, Guildhall, Frankwell Quay, Shrewsbury, SY3 8HQ