39 - 47 Market Street
Crewe
Cheshire
CW1 2EZ

Significant Town Centre Freehold Retail Opportunity

  • Approximately 27,417 sq ft - former variety store
  • Large footprint with prominent frontages to Market Street, Market Square and Queensway
  • Low Capital Value per sq ft (circa. £7-£9 per sq ft on Guide Price)
  • Occupied on lease with mutual rolling break option from March 2018
  • Nearby occupiers include Boots the Chemist, Costa, JD Sports, Greggs, Starbucks and Poundland
  • Of Interest to developers, investors and owner occupiers with possible Change of Use opportunities (subject to consents)
  • Lot
    18
  • Auction
    28/Mar/2018
  • Rent
    £0 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • 39 - 47 Market Street<br>Crewe<br>Cheshire<br>CW1 2EZ
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Property Information

Location
Miles
14 miles north-west of Newcastle-under-Lyme, 36 miles south of Manchester
Roads
A500, A532, A534
Rail
Crewe Railway Station (36 minutes to Manchester Piccadilly)
Air
Manchester International Airport
Situation

The property is situated in a prominent corner position, with frontages on the pedestrianised Queensway, Market Square and Market Street, in the heart of Crewe town centre. Nearby occupiers include Boots the Chemist, Costa, JD Sports, Greggs, Starbucks and Poundland. Market Shopping Centre is located about 150 metres away, with retailers including Iceland, B&M Bargains, Wilko, Poundworld and Superdrug.

Tenure

Freehold.

Description

The property comprises a large well configured shop with retail accommodation on the ground floor and ancillary accommodation on the first floor and plant on the second floor.

VAT

VAT is applicable to this lot.

Tenancy & Accomodation

FloorUseGross Internal Floor Areas
(Approx)
TenantTermRent p.a.x
Ground
First
Second
Retail/Ancillary
Retail/Ancillary
Plant
1,269.52 sq m
1,257.54 sq m
20.07 sq m
(13,665 sq ft)
(13,536 sq ft)
(216 sq ft)
LYDONFORD
LIMITED (1)
t/a Sport Store
2 years from 19/10/2017
until 18/10/2019 (2)
Peppercorn
Total
2,547.13 sq m
(27,417 sq ft)
   

(1) Sport Store were established over 25 years ago and operate from a number of stores in the Midlands. For the year ending 31st March 2017, Lydonford Limited reported a turnover of £16,422,312, pre-tax profits of £-366,979 and a total net worth of £7,046,594 (Sources: www.skiandsport.co.uk and Experian Group 26/02/2018).
(2) Sport Store currently occupy the ground floor only by way of a lease paying rates, but no rent. The lease provides a rolling landlord and tenant option to determine at any time after 31st March 2018 subject to eight weeks’ notice. A £6,000 deposit is held (inclusive of VAT). The lease is held outside the Security of Tenure provisions of the 1954 Landlord & Tenant Act and the tenant is to keep the property clean and tidy and in good repair and condition subject to a photographic schedule of condition.

Property Documents

  • Site Plan
    Updated Date
    06.03.18
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    06.03.18
    File Size
    724 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Associate Auctioneers
HP Four LLP 17 Grosvenor Street
London
W1K 4QG
Jeremy Roger 020 3758 8262jeremy.roger@hpfour.co.uk
Seller's Solicitors
Hogan Lovells Solicitors Atlantic House, Holburn Viaduct
London
EC1A 2FG
Janan Kanagaratnam 0207 296 2000janan.kanagaratnam@hoganlovells.com

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