Town centre of Whitchurch, Shropshire 1 Lord Hill House, Whitchurch, Shropshire SY13 1SE Floor Area...

FOR SALE SUBSTANTIAL PROMINENTLY LOCATED SHOP UNIT Additional description text would go here and here and here

Price: Offers in excess of £2,250,000 (exclusive) Equating to a Net Initial Yield of 7.11% and a Net Reversionary Yield of 7.19%

FOR SALE SIGNIFICANT MIXED INVESTMENT PORTFOLIO FOR SALE Town centre of Whitchurch, Shropshire

INVESTMENT SUMMARY■ Multi-Let Investment Property Portfolio in the Centre of Whitchurch.

■ The Portfolio Comprises of a Variety of mainly retail and commercial properties, with some residential.

■ Asset management opportunity

■ The properties provide an attractive Net Initial Yield of 7.11%.

■ The properties are let on a variety of occupational tenancies and provide a rare opportunity to acquire property interests with significant management potential.

PROPOSAL■ Current Income: £169,659 per annum (Reversionary Income of £171,660 per annum)

■ Price: Offers in the region of £2,250,000.00

■ Net Initial Yield: 7.11% after costs

LOCATIONWhitchurch is a market town in Shropshire, 2 miles (3 km) east of the Welsh boarder on the North Shropshire Plain in the Welsh Marches, close to the Cheshire Boarder. It is the oldest continuously inhabited town in Shropshire. The town is 20 miles (30 km) North of the county town of Shrewsbury, 20 miles (30 km) South of Chester and 15 miles ( 24 km) East of Wrexham.

The properties are located in the town centre of Whitchurch, which is an established market town serving the North of Shropshire.

Watergate Street, High Street, Mill Street and Green End are the main retail street in the town centre. The properties are surrounded by a variety of national, regional and local retailers. Whitchurch is a growing town, with a variety of ongoing residential developments.

DEMOGRAPHICSAt the 2011 Census, the population of the town was 9,781.

The economy of the town rests mainly on providing services for the surrounding countryside of the North Shropshire Plains. Most of the retail stores are concentrated in the High Street and Green End.

The railway service brings Whitchurch within commuting distance of Manchester (about one hour north) and Shrewsbury (thirty minutes south).

FOR SALE

HALLSGB.COM 01743 450 700

SIGNIFICANT MIXED INVESTMENT PORTFOLIO Town centre of Whitchurch, Shropshire

SITUATIONThe property is situated fronting onto Green End, in the town centre of Whitchurch, where all local amenities are available.

Green End is one of the main trading streets in Whitchurch town centres retail hierarchy.

DESCRIPTIONThe property comprises of two ground floor lock up shop units, which currently trade as a hair salon and art shop.

The property is of traditional brick construction under a slate roof cover.

EPC20 Green End 22 Green End

ACCOMMODATION(All measurements are approximate)

20 Green End, Whitchurch, Shropshire SY13 1AA

Floor Area Sq m Sq ft

Hairdresser Sales Area 35.05 377 Stores 4.312 46 Outside Toilet

Total 423



Retail Sales Area 46.77 503 Lobby 2.35 25 Toilet

Total 197

TENUREThe property is understood to be of Freehold Tenure under part of Land Registry Title Number SL141032.

TENANCYThe property is subject to the following occupational tenancies.

20 Green End - The Lease is dated 1st February 2015 between Michael Bate, Linda Valerie Bate and Keith Edge for a term of 7 years from the 1st February 2015.

The Lease is granted on Tenants Internal Repairing and Insuring Basis.

The Lease is subject to a Tenants option to determine the lease at three months notice.

The rent is £6,500 oer annum

22 Green End - Lease dated 1st March 2016 between Michael bate and Wesley Guildford for a term of 7 years commencing from 1st March 2016.

The Lease is granted on Tenants Internal Repairing and Insuring Basis.

The Lease is subject to an option to determine the Lease at six months notice.

The rent is £7,000 per annum.

SIGNIFICANT MIXED INVESTMENT PORTFOLIO Town centre of Whitchurch, Shropshire

SIGNIFICANT MIXED INVESTMENT PORTFOLIO 20-22 Green End, Whitchurch, Shropshire SY13 1AAFOR SALE


SITUATIONThe property is located fronting onto Rosemary Lane, The property is situated just on the edge of the centre of the town of Whitchurch, where all local amenities are available.

The property is situated in an area of mixed development and adjoining the Royal Mail Sorting Office.

DESCRIPTIONThe property comprises of a commercial vehicle workshop providing Total Accommodation of approximately 264.14 sq m (2.843 sq ft) sitting on a Total Area of approximately 0.122 acres (0.04 hectares).

The property is a traditional steel framework and benefits from a car parking forecourt area at the front of the property.

EPC

ACCOMMODATION

(All measurements are approximate)


Total Gross Internal Floor Area 264.14 2.843

Total Site Area 0.122 Acres 0.04 Hectares

Total


TENANCYLease dated 26th January 2006 between Mr & Mrs Bate and Mr J R Shelton and Mr P Harrell for a term of 10 years on Tenants Internal Repairing and Insuring Basis.

From the 5th May 2010 the lease has been assigned to Ian Lovatt.

The current rent is £16,000 per annum.

SIGNIFICANT MIXED INVESTMENT PORTFOLIO Rosemary Lane Garage, Rosemary Lane, Whitchurch, Shropshire SY13 1EGFOR SALE


SITUATIONThe property is located fronting onto Mill Street, in the town centre of Whitchurch, where all local amenities are available.

Whitchurch is an established administrative and market town serving North Shropshire.

DESCRIPTIONThe property comprises of a two storey property that is arranged to provide on the ground floor a lock up shop unit, which currently provides a Total Sales Area of approximately 51.88 sq m (558 sq ft) with ancillary accommodation.

Then accessed from the courtyard area of the adjoining property there is a separate ground floor access that leads to a first floor two bedroomed flat.

EPC10 Mill Street 10a Mill Street


10 Mill Street, Whitchurch, Shropshire SY13 1SE


Ground Sales Area 51.88 558 Stores 1.87 20 Office 12.35 133 Staffroom 3.64 39

Toilets

Total 750

10a Mill Street, Whitchurch, Shropshire SY13 1SE


First Bedroom 1 26.66 Shower room 7.489 Bedroom 2 8.651 Kitchen/diner 28

Total

TENUREThe property is understood to be of Freehold Tenure. The property is held under Title Number SL87682.

TENANCY10 Mill Street is subject to a lease dated1st July 2013 between Mr M Bate and Mrs L V Bate and New Trend GB Limited for a term of 3 years on a Tenants Internal Repairing and insuring basis at a rent of £5,400 per annum (the tenants are currently holding over).

10a Mill Street is subject to an assured shorthold tenancy between Mr M Bate and Mrs L V Bate let to Wayne Evans for a term of six months at a rent of £100 per week.

SIGNIFICANT MIXED INVESTMENT PORTFOLIO 10-10a Mill Street, Whitchurch, Shropshire SY13 1SEFOR SALE


SITUATIONThe property is situated fronting onto Green End, in the town centre of Whitchurch, where all local amenities are available.

Green End is one of the main trading streets in the Whitchurch town centre retail hierarchy.

DESCRIPTIONThe property comprises of a part two and part three storey property that is arranged to provide a ground floor shop unit, currently trading as a card retail shop and two residential units with parking at the rear of the property interest.

The property is of traditional brick construction under a slate roof cover.

EPC21 Green End 21a Green End

21b Green End




Ground Sales Area 39.95 430 Staffroom 12.52 135 Toilet

21a Green End, Whitchurch, Shropshire SY13 1AA


First Kitchen Shower Room BedroomSecond Landing Bedroom 2

21b Green End, Whitchurch, Shropshire SY13 1AA


Ground Kitchen First Sitting Room Bedroom 1Outside Car Parking Area


TENANCYWe understand that the property is of Freehold Tenure and are subject to the occupational tenancies as follows:

The Card Shop is let on a lease dated 31st December 2015 between Michael Bate and Karen Soler for a term of 3 years from 1st January 2016, at a rent of £7,000 per annum on a Tenants Full Repairing and Insuring Basis.

21a is let on an assured shorthold tenancy agreement at a rent of £477 per calendar month to Andrew White (includes water rates).

21b is let on an assured shorthold tenancy agreement at a rent of £368 per calendar month to Gemma Johnson until 1st May 2017.

SIGNIFICANT MIXED INVESTMENT PORTFOLIO 21, 21a & 21b Green End, Whitchurch, Shropshire SY13 1AAFOR SALE


SITUATIONThe property is situated fronting onto High Street, in the town centre of Whitchurch, where all local amenities are available. High Street is one of the main retail streets in Whitchurch town centre.

DESCRIPTIONThe property comprises of a part two and part single storey property that is arranged to provide a ground floor shop unit trading currently as a restaurant. There is included in the ownership a residential flat that has been sold off on a long leasehold.

The property is of traditional construction.

EPC


TENANCYWe understand that the property is of freehold tenure and subject to a commercial lease as follows:

The lease dated 1st September 2016 between Mr Michael Bate and Shaun and Sarah Robertshaw.

The lease is for a period of 7 years from 1st September 2016.

The lease is granted on Tenants Internal Repairing and Insuring Terms. The rent for the lease from 1st October 2016 to 31st August 2017 is £7,000 per annum.

The rent from 1st September 2017 is £12,500 per annum.

The residential flat pays an annual peppercorn rent.


33 High Street, Whitchurch, Shropshire SY13 1AZ


Ground Restaurant 28.33 305 Restaurant 45.80 493 Toilets Seating Area 56.80 677 Kitchen 6.22 67 Corridor Preparation 4.14 45First Residential Flat - sold on a long leasehold

Total 423

SIGNIFICANT MIXED INVESTMENT PORTFOLIO 33 High Street, Whitchurch, Shropshire SY13 1AZFOR SALE


SITUATIONThe property is located just off Watergate Street, with access also from the Tesco Supermarket car park. The property is situated in the town centre of Whitchurch, where all local amenities are available. Watergate Street is one of the main trading streets in Whitchurch town centre. There are a variety of national multiples in close proximity.

DESCRIPTIONThe property comprises of a part three and part two storey property that is arranged to provide three lock-up shops with a residential flat above.

The property comprises of an estate agents, a beauty salon and a cafe / restaurant.

EPC6 Watergate Street 8 Watergate Street

Flat above 6-8 Watergate Street



6 Watergate Street, Whitchurch


Sales Area 61.39 661 Kitchen 15.93 171 Toilet

First 66.10 711

Total 1,543

8 Watergate Street, Whitchurch


Sales Area 34.30 369 Office 18.88 203 Corridor 8.95 96

Staffroom 8.05 87

Total 755

Flat above 6-8 Watergate Street, Whitchurch


Bathroom Kitchen 8.04 Sitting Room 14.38 Bedroom 7.61 Bedroom 2 12.18

Store 5.216

Total

TENANCY6 Watergate Street is let on a lease dated 3rd August 2016 between Michael Bate and Paco Rincon Salas for a term of 5 years from 24th June 2016.

The current rent is £17,500 per annum.

The lease is granted on a Tenants Internal Repairing and Insuring Terms.

There is a rent review at the end of the third year.

8 Watergate Street is let on a lease dated the 17th July 2007 between Michael Bate and Linda Valerie Bate and Halls Holdings Limited, for a term of 10 years from 17th July 2007. The current rent is £11,000 per annum, the lease is granted on a Tenants Internal Repairing and Insuring Basis.

Unit 3 is let on a lease dated 27th April 2016 between Michael Bate and Jessica Jones for a term of 3 years from 11th February 2016.

The rent is £13,500 per annum.

The lease is granted on a Tenants Internal Repairing and Insuring Basis.

The flat is let on let on an assured shorthold tenancy at a rent of £390 per calendar month.

SIGNIFICANT MIXED INVESTMENT PORTFOLIO 6-8 Watergate Street, Whitchurch, Shropshire SY13 1DWFOR SALE


SITUATIONThe property is located at the junction of Watergate Street with Mill Street. The property is situated in the Town Centre of Whitchurch, where all local amenities are available.

DESCRIPTIONThe property comprises of a four storey property which included a lower basement area. The property comprises of a lock up shop unit that is arranged over the ground and lower ground floor. The retail sales area benefits from separate entrances from both Watergate Street and Mill Street.

There is a separate ground floor entrance that provides access to 4 residential flats that are arranged over the first and second floors.

At the rear of the property there is a covered store and an external stores area, which are demised to the shop unit.

EPCFlat 1 - C - 71

Flat 2 - D - 65

Flat 3 - D -64

Flat 4 - D- 64


Ground Floor, Lord Hill House, Watergate Street


Total Sales Area 151.80 1,634 Office 16.44 177Lower ground 35.36 381 Stores 27.17 292Basement Stores 130.78 1,408

Outside Stores 13.68 147

Total

Flat 1 Lord Hill House, Whitchurch, Shropshire SY13 1SE


Hallway Shower Room 6.06 Bedroom 1 7.43 Bedroom 2 16.88 Kitchen/Diner 29.65



Hallway Kitchen/Diner 21.35 Bedroom 1 8.60 Bedroom 2 13.71 Shower Room 5.53



Hallway KIitchen/Diner 19.95 Bedroom 8.44 Bedroom 13.66 Shower Room 5.47



Hallway KIitchen/Diner 28.76 Bedroom 7.48 Bedroom 15.15 Shower Room 5.65


TENANCYThe shop unit is subject to a lease dated the 1st January 2016 between Michael Bate and Sequential Limited with Guarantors of Nicola Bettison and Andrew Bettison, for a term of three years at a rent of £26,000 per annum Year 1; £27,000 per annum Year 2; £28,000 per annum Year 3. The lease is granted on a Tenants Internal Repairing and Insuring Basis.

The residential flats are subject to the following assured shorthold tenancies;

Flat 1 - £368.33 per month




SIGNIFICANT MIXED INVESTMENT PORTFOLIO Lord Hill House, Whitchurch, Shropshire SY13 1SEFOR SALE


SITUATIONThe property is located fronting onto High Street.

The property is situated in the town centre of Whitchurch, where all local amenities are available. Watergate Street is one of the main trading streets in Whichurch town centre. there are a variety of national multiples in close proximity.

DESCRIPTIONThe property comprises a Grade II listed building with the main retail area to the front which is accessed from High Street, with a storage area and WC to the rear.

Outside, the property has access to a yard at the rear which can be accessed directly from the premises and also through a gate from the car park of the Black Bear Public House. This access also provides access to the self-contained flat which has accommodation over the first, second and third floors.

The property has previously been used as a shop, however it would be suitable for a variety of uses to include cafe/restaurant, beauty salon, and many more, subject to the necessary statutory consents. The shop unit is currently vacant.

EPC

45 High Street

Flat at 45A High Street


45 High Street, Whitchurch, Shropshire SY13 1AZ


Ground Floor Front Sales Area 20.6 221 Rear store 8.2 88 WC

Flat at 45 High Street, Whitchurch, Shropshire SY13 1AZ


First Floor Kitchen Living room Second Floor Bedroom Bathroom Third Floor Bedroom

TENUREFreehold Tenure under part of Land Registry Title Number SL120262

TENANCYThe shop unit is vacant. The flat is let at assured shorthold tenancy agreement at a rent of £400 per month.

SIGNIFICANT MIXED INVESTMENT PORTFOLIO 45/45A High Street, Whitchurch, Shropshire SY13 1AZFOR SALE


FURTHER INFORMATIONFor further information or to arrange an inspection of the properties please contact:

PROPOSALWe are instructed to seek offers in the region of £2,250,000.00.

Showing a Net Initial Yield of 7.11% and a Net Reversionary Yield of 7.19% aftr purchasing costs.

VATThe property is elected for VAT purposes. It is assumed that the investment will be treated as TOGC (Transfer of a Going Concern).

LEGAL COSTSEach of the parties are to be responsible to their own legal costs incurre in respect of this matter.

IMPORTANT NOTICE Halls have advised their clients on the Code of Practice for Commercial Leases in England and Wales. Halls, for themselves and for the vendor of this property, or as the case may be, lessor whose agent they are, given notice that: i) These particulars are intended for guidance only. They are prepared and issued in good faith and are intended to give a fair description but do not constitute part of an offer or contract. Any information given should not be relied on as a statement or representation of fact or that the property or its services are in good condition. ii) Halls have not made any investigations into the existence or otherwise of any issues concerning pollution and potential land, air and water contamination. The purchaser is responsible for making his or her own enquiries in this regard. iii) Neither Halls nor any of their employees has any authority

to make or give any representation or warranty whatsoever in relation to the property. iv) The images show only certain parts and aspects of the property at the time they were taken/created. Any areas, measurements or distances given are approximate only. Any plans are for identification purposes only. v) Any reference to alterations to, or use of, any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. An intending purchaser must verify these matters. An occupier should not rely upon the Use stated in these particulars and should check their proposed use with the relevant Planning Authority.

James Evans E: [email protected]

Rebecca Welch E: [email protected]

01743 450 700

FOR SALE SIGNIFICANT MIXED INVESTMENT PORTFOLIO Whitchurch, Shropshire

Town centre of Whitchurch, Shropshire 1 Lord Hill House, Whitchurch, Shropshire SY13 1SE Floor Area...

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