9 Tower Street
Ludlow
Shropshire
SY8 1RL

Freehold Convenience Store Investment

  • Let to One Stop Stores Limited - a part of Tesco Plc
  • New 10 year lease renewal from February 2019 (subject to options)
  • Approximately 407.60 sq m (4,388 sq ft)
  • Includes the town centre’s only Post Office
  • Nearby occupiers include Boots the Chemist, Specsavers, Edinburgh Woollen Mill and Costa Coffee
  • Lot
    2
  • Auction
    04/Apr/2019
  • Rent
    £38,000 per Annum Exclusive
  • Status
    Sold Post
  • Price*
     
  • Sector
    Supermarket
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 9 Tower Street<br>Ludlow<br>Shropshire<br>SY8 1RL
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  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
24 miles north of Hereford
29 miles south of Shrewsbury
36 miles west of Birmingham
Roads
A49, A456
Rail
Ludlow Train Station
Air
Birmingham Airport
Situation

Ludlow is an attractive market town in Shropshire, 29 miles south of Shrewsbury and 36 miles west of Birmingham. The town is served by the A49, providing access to the A5 and M54 to the north and the M50 to the south. The property is located on the northern side of Tower Street, close to its junction with Lower Galdeford and Upper Galdeford. Nearby occupiers include Boots the Chemist, Edinburgh Woollen Mill, Specsavers and Costa Coffee. To the rear of the property is a large public car park.

Tenure

Freehold.

Description

The property is arranged on the ground and first floors and provides a ground floor convenience store with integral sub-post office, which is the only post office in the town centre. The first floor provides ancillary accommodation.

VAT

VAT is applicable to this lot.

EPC

Band D

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews
Ground
First
Retail/Ancillary
Ancillary
387.55 sq m
20.05 sq m
(4,172 sq ft)
(216 sq ft)
ONE STOP
STORES LIMITED
(1)
10 years from
20/02/2019 until
19/02/2029 on a full
repairing and insuring
lease (2)
£38,00020/02/2024
Total
407.60 sq m
(4,388 sq ft)
  £38,000 

(1) For the year ending 24th February 2018, One Stop Stores Limited reported a turnover of £1,068,992,000, pre-tax profits of £20,141,000 and a total net worth of £129,356,000 (Source: Experian Group 21/02/2019). One Stop Stores Limited is a retail convenience business with over 770 company operated neighbourhood stores across England, Wales and Scotland (Source: www.openaonestop.co.uk).
(2) There is a tenant option to determine the lease on 20th February 2022 and 20th February 2024. If the tenant serves notice to determine the lease in February 2022, the tenant shall pay a rent penalty equivalent to a year’s rent.

Property Documents

  • Site Plan
    Updated Date
    10.04.19
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    10.04.19
    File Size
    610 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 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 GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Hill Dickinson LLP 50 Fountain Street
Manchester
Lancashire
M2 2AS
Darren Hamer 0161 817 7324darren.hamer@hilldickinson.com

Useful Links

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