Oswestry is Shropshire’s third largest town with a former borough population of around 36,000 and a catchment substantially higher. The premises are situated in a busy town centre pedestrianised position between Bailey Street and the Bailey Head (where Wednesday and Saturday’s weekly markets take place) and Leg Street and Beatrice Street. Description
Ground and first floor retail premises having the following accommodation.
Ground Floor Sales with double frontage, central staircase leading to upper floor sales area, currently including a small office area (11 . / 119 .), taken from retail space.
Net frontage 8.85 m / 29’
Built depth 21.70 m / 71’
Total Approx. Ground Sales Area 129.1 . / 1,390 .
Ground Floor Storage accessed via current offices, storage with small kitchen facility, wc with wash basin off and side access to alleyway leading to the fore. Stairs to first floor.
First Floor Retail accessed via customer staircase from ground floor, largely open plan.
101.20 . / 1,089 .
First Floor Storage is in three rooms at the rear with second staircase to rear ground storage.
26.10 . / 281 . Rent and lease terms
We understand that the property is let to The Rural Charity of the Shropshire and West Midlands Agricultural Society, which is a co-operate venture with charitable status which other than operating a number of charity shops also runs the annual Shropshire County Agricultural Show in Shrewsbury (formerly the West Midlands Show). The lease was granted for 3 years from the 25th of December 2016, with a current rent of £9,600 p.a. Rising to £12,000 p.a. In the final 12 months of the lease. The lease is on an internal repairing and insuring basis. Lease renewal agreed subject to contract to 25th December 2022, from current rent of £10,440 p.a. To £12,000 p.a. Pricing and background
The vendors of this property have both traded from the premises in excess of 20 years ago and have retained it for investment purposes since during which time (the last 20 years approximately) it has very rarely been vacant and has constantly produced an attractive rental return. There is clearly potential subject to planning and other statutory consents being obtained for creation of apartments on the upper floor, and perhaps dividing the ground floor shop into two units.
A price for the freehold in the region of £149,000 is asked. Business rates
We understand from viewing the Valuation Office Agency web site that the estimated Rateable Value for 2017/18 is £14,750, and that the current tenant will be obtaining a significant concession as part of their charitable status. EPC
Property descriptions and related information displayed on this page are marketing materials provided by Celt Rowlands & Co. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Celt Rowlands & Co for full details and further information.
Woodside Primary School
Primary school4 - 11 years
Our Lady and St Oswald's Catholic Primary School
Primary school4 - 11 years
Primary and secondary school4 - 18 years
Holy Trinity Church of England Primary Academy and Nursery