Freehold Retail Investment and Vacant Offices with Development Potential
Pedestrianised town centre location
Prominent corner building near Wellington Market and Railway Station
Three shops and 5,480 sq ft vacant upper floors (2)
Occupiers nearby include Wilko, HSBC, Greggs, Subway and Heron Foods
Lot 54
Auction 24th October 2019
Rent £19,250 per Annum Exclusive
Status Sold
Price £245,000
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
On behalf of a Major Fund Manager
Property Information
Location
Miles
10 miles east of Shrewsbury
20 miles north-west of Wolverhampton
32 miles north-west of Birmingham
Roads
M54, A5223
Rail
Wellington Railway
Air
Birmingham International
Situation
Wellington is one of the satellite towns of Telford, located 20 miles east of Shrewsbury, 32 miles north-west of Birmingham and 1 mile north of the M54 motorway. The property in the town centre occupies a prominent corner position at the junction of the pedestrianised Market Square and Market Street. Wellington railway station is located 150 metres to the north and Wellington Indoor Market 50 metres to the west. Occupiers close by include HSBC, Greggs, Heron Foods, Boots, Wilko and Coral.
Tenure
Freehold.
Location
Miles
10 miles east of Shrewsbury
20 miles north-west of Wolverhampton
32 miles north-west of Birmingham
Roads
M54, A5223
Rail
Wellington Railway
Air
Birmingham International
Situation
Wellington is one of the satellite towns of Telford, located 20 miles east of Shrewsbury, 32 miles north-west of Birmingham and 1 mile north of the M54 motorway. The property in the town centre occupies a prominent corner position at the junction of the pedestrianised Market Square and Market Street. Wellington railway station is located 150 metres to the north and Wellington Indoor Market 50 metres to the west. Occupiers close by include HSBC, Greggs, Heron Foods, Boots, Wilko and Coral.
Tenure
Freehold.
Description
The property comprises three ground floor shops together with vacant former offices at first and second floors. The first and second floors are separately accessed via Market Street.
VAT
VAT is applicable to this lot.
Planning
The property may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Telford Council (www.telford.gov.uk).
EPC
See legal pack at acuitus.co.uk
Description
The property comprises three ground floor shops together with vacant former offices at first and second floors. The first and second floors are separately accessed via Market Street.
VAT
VAT is applicable to this lot.
Planning
The property may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Telford Council (www.telford.gov.uk).
EPC
See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
3 Market Street Ground
Retail
54 sq m
(581 sq ft)
INDIVIDUAL t/a TotaIly Wicked
5 years from 30/03/2015
£9,000
2020
4 Market Square Ground Basement
Retail Ancillary
54 sq m 184 sq m
(581 sq ft) (1,980 sq ft)
VACANT VACANT
5 Market Square Ground Basement
Retail Ancillary
42 sq m 58 sq m
(452 sq ft) (624 sq ft)
CJY LIMITED t/a Coco’s Desserts
5 years from 09/11/2018 (1)
£10,250
2023
Wrekin House, Market Street First Second
(2) 236 sq m (2) 273 sq m
(2,542 sq ft) (2,938 sq ft)
VACANT VACANT
Total
901 sq m
(9,698 sq ft)
£19,250
(1) website:www.totallywicked-eliquid.co.uk. (2) Removed from the Rating List. Business rates not payable.
