St Marys Place, Shrewsbury

The property comprises of an attached building, which is in part 6 storey, part two storey, part three storey.

The property comprises of an attached building, which is in part 6 storey, part two storey, part three storey. The property is arranged as a fully income producing shop unit trading as Santander and held in the freehold ownership of the property two other retail units and uppers comprising of residential units and a basement area and a car park that have been sold off on long leaseholds as per the tenancy schedule detailed below in these particulars. The property is of concrete frame construction, with brick infill to the elevations sitting under a flat roof cover.

The shop unit which is let to Santander provides an attractive income producing ground floor retail unit providing a Total Net Internal Area of approximately 2,342 sq ft (217.59 m sq). The unit is currently fitted out as a Bank with ancillary and welfare facilities, and benefits from a fully glazed shop frontage.

The property is held under Title Number SL106065 and is to be sold subject to all the long leasehold interests. The property currently provides a well let retail investment in a popular market town and its potential can only be fully appreciated by undertaking an inspection of the property. There is asset management potential attached to the property, which will make it attractive to property investors.

The property occupies a prominent position in the heart of Shrewsbury town centre, fronting onto St Mary's Street, one of the town's principal retail thoroughfares. The property is situated on the North-East side of St Mary's Street, which is accessed from Castle Street and Dogpole. The location benefits from strong pedestrian footfall and excellent accessibility.

The property is located in close proximity to all local amenities, the surrounding occupiers include Tesco, M and S, Greggs, WHS and Barclays.

Shrewsbury is the County Town of Shropshire and has a significant catchment population as well as acting as an administrative and tourist centre. The town is sat on the River Severn and had a population of 71,715 at the 2011 census.

The town has over 660 listed buildings and is located approximately 48 miles west of the City of Birmingham and approximately 44 miles south of the City of Chester. There is access to the national road network via the A5(M54 link road).

The strength of the town of Shrewsbury and its town centre marks this opportunity attractive to property investors.

Tenure - The property is of Freehold Tenure held under the ownership of Title Number SL106065.

The property is to be sold, subject to the long leaseholds that exist and the occupational tenancy as detailed below.

The Long leasehold interests are understood to be 999 years at a peppercorn rent.

Further details are available upon request from the selling agents.

Occupational Lease - Lease dated 11th November 1968 between Harrows Investments LTD and Abbey National Building Society.

63 years from the 25th September 1968 at a rent of £55,000 (exclusive).

Full Repairing and Insuring by way of a service charge, Inside the Landlord and Tenant Act 1954.

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

Tenant Summary - Santander - •Company Background: Abbey National Building Society was a UK-based mutual financial institution established in 1944 following the merger of Abbey Road Building Society and National Building Society. It later became Abbey National plc after demutualisation in 1989.

•Following its demutualisation in 1989, Abbey National became a publicly listed FTSE 100 company, reflecting its significant scale and position within the UK financial services market. Its subsequent acquisition by Banco Santander in 2004 further strengthened the business through the backing of one of Europe's leading banking groups

•Acquisition by Santander: In 2004, Abbey National was acquired by Banco Santander. The acquisition marked an important stage in Santander's expansion into the UK banking market. Abbey continued operating under its own name before being rebranded as Santander in 2010.

•Net interest income: £4,380 million

•Total operating income: £4,729 million

•Profit before tax: £1,482 million

•Profit after tax: £1,086 million

Accomodation - (all measurements are approximate)

2 St Marys Street (Santander)

Total Net Internal Area 2,342 sq ft (217.59m sq)

Toilets

(The other parts of the freehold ownership have not been measured as they have been sold off on long leasehold tenures)

Price - Offers in the region of £720,000 (Exclusive) showing a Net Initial Yield of 7.27% (after allowing for normal purchaser’s costs).

Vat - It is understood that the property is elected for VAT and therefore VAT will be charged on the purchase price. It is proposed any sale should proceed as a TOGC (Transfer of Going Concern)

Epc - Ground Floor Retail Unit - E (102)

Rateable Value - Ground Floor Retail Unit - Current rateable value (1 April 2026 to present) - £48,000

Legal Costs - Each party are to be responsible for their own legal costs associated with the sale of the property.

Services - Prospective purchasers should rely on their own enquiries. We understand that all mains’ services are connected to the properties and that the respective properties benefit from separate mains metered supplies

Planning - Interested parties are advised to make their own enquiries to the Local Authority.

The ground floor of the property is understood to benefit from Use Class E of the Town and Country Use Classes Order.

The upper floors of the property (sold off on a long leasehold basis) are understood to benefit from planning consent Use Class C3 (Residential) of the Town and Country Use Classes Order.

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