Freehold Retail Parade Investment with Development Potential
Retail parade comprising five retail units and three office suites
Tenants include TUI UK Limited and British Heart Foundation
Residential development potential (subject to consents)
Nearby occupiers include Oxfam, William Hill, RBS and McDonald’s
Producing £49,500 per annum exclusive (with 5,182 sq ft offered with vacant possession)
Lot 44
Auction 28th March 2018
Rent £49,500 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles south-west of Chester, 32 miles south of Liverpool, 50 miles south-west of Manchester
Roads
A525, A534, A483
Rail
Wrexham Central Rail
Air
Liverpool John Lennon Airport
Situation
Wrexham is a busy market town and one of the main commercial and administrative centres in North Wales. The property occupies a prominent corner position on the pedestrianised retailing pitch of Lord Street and the busy thoroughfare of Egerton Street. Nearby occupiers include Oxfam, William Hill, RBS and McDonald’s.
Tenure
Freehold.
Location
Miles
12 miles south-west of Chester, 32 miles south of Liverpool, 50 miles south-west of Manchester
Roads
A525, A534, A483
Rail
Wrexham Central Rail
Air
Liverpool John Lennon Airport
Situation
Wrexham is a busy market town and one of the main commercial and administrative centres in North Wales. The property occupies a prominent corner position on the pedestrianised retailing pitch of Lord Street and the busy thoroughfare of Egerton Street. Nearby occupiers include Oxfam, William Hill, RBS and McDonald’s.
Tenure
Freehold.
Description
The property is a substantial corner building comprising five ground floor retail units with first floor ancillary accommodation and self-contained office accommodation at the second floor. The office accommodation is currently arranged as three suites and is accessed via a separate entrance on Lord Street. The property benefits from a service yard and car parking to the rear.
VAT
VAT is applicable to this lot.
Planning
Draft plans have been submitted to Wrexham Council to convert the second floor to 4 x two bedroom apartments with balconies. Further information can be found in the legal pack
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is a substantial corner building comprising five ground floor retail units with first floor ancillary accommodation and self-contained office accommodation at the second floor. The office accommodation is currently arranged as three suites and is accessed via a separate entrance on Lord Street. The property benefits from a service yard and car parking to the rear.
VAT
VAT is applicable to this lot.
Planning
Draft plans have been submitted to Wrexham Council to convert the second floor to 4 x two bedroom apartments with balconies. Further information can be found in the legal pack
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
12 Egerton St
Ground First
Retail Ancillary
68.81 sq m 51.93 sq m
(740 sq ft) (558 sq ft)
BRITISH HEART FOUNDATION
20 years from 16/10/1998
£20,500
15/10/2013 (1) (15/10/2018)
14 Egerton St
Ground First
Retail Ancillary
83.3 sq m 170.88 sq m
(896 sq ft) (1,839 sq ft)
TUI UK LIMITED
5 years from 21/05/2012
£23,500
(Holding Over)
Suite 2 & 3
Second
Office
298.03 sq m
(3,208 sq ft)
INDIVIDUAL
4 years from 06/06/2014 (2)
£5,500
(05/06/2018)
10 Egerton St
Ground First
Retail Ancillary
105.4 sq m 55.99 sq m
(1,134 sq ft) (602 sq ft)
VACANT POSSESSION
24 Lord St
Ground First
Retail Ancillary
48.41 sq m 56.05 sq m
(521 sq ft) (603 sq ft)
VACANT POSSESSION
26 Lord St
Ground First
Retail Ancillary
50.49 sq m 46.42 sq m
(543 sq ft) (499 sq ft)
VACANT POSSESSION
Suite 1
Second
Office
118.91 sq m
(1,280 sq ft)
VACANT POSSESSION (3)
Total
1,154.62 sq m
(12,423 sq ft)
£49,500
(1) The 2013 rent review is outstanding. (2) Suite 2 is let as a supplemental lease to Suite 3 at a nil rent. (3) A draft lease has been issued to an Individual for a Tattoo Studio for a term of 4 years at a rent of £3,500 pa. This is conditional on a change of use from B1 to A1.
