The Stafford Cinema Newport Road Stafford Staffordshire ST16 2HH

The Stafford Cinema
Newport Road
Stafford
Staffordshire
ST16 2HH

Freehold Investment/Development Opportunity

Prominent town centre location
Comprises approximately 1,181 sq m (12,715 sq ft)
Suitable for alternative leisure use or redevelopment for residential (subject to necessary consents)
Close to the recently completed new Waterfront Leisure Scheme, let to tenants including Nando's and Frankie & Benny's
VAT-free investment

Lot
29
Auction
12th February 2020
Rent
£27,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

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Freehold Investment/Development Opportunity

Prominent town centre location
Comprises approximately 1,181 sq m (12,715 sq ft)
Suitable for alternative leisure use or redevelopment for residential (subject to necessary consents)
Close to the recently completed new Waterfront Leisure Scheme, let to tenants including Nando's and Frankie & Benny's
VAT-free investment

Lot 29
Auction 12th February 2020
Rent £27,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Development
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

Property Information

Location

Miles: 8 miles south of Stone; 15 miles south of Stoke-on-Trent; 26 miles north-west of Birmingham
Roads: A34, A518, M6
Rail: Stafford
Air: Birmingham Airport

Situation

Stafford, the county town of Staffordshire, is located 26 miles north-west of Birmingham. The town benefits from an excellent road network, with junctions 13 and 14 of the M6 located approximately 3 miles to the north and south. The property is located on the south side of Newport Road (A518), one of Stafford's main arterial routes into the town centre, at the southern end of Stafford town centre, at the junctions of Lichfield Road and Bridge Street. The surrounding area comprises retail and leisure use including Yates' Bar and a JD Wetherspoon.

Tenure

Freehold.

Location

Miles: 8 miles south of Stone; 15 miles south of Stoke-on-Trent; 26 miles north-west of Birmingham
Roads: A34, A518, M6
Rail: Stafford
Air: Birmingham Airport

Situation

Tenure

Freehold.

Description

The property comprises a two storey cinema arranged on the ground and first floors to provide three screens with seating for over 600 customers. The property also includes two retail units, both of which are currently let.

VAT

VAT is not applicable to this lot.

Planning

Pre-application (19/31178/PAA) advice has been received from Stafford Borough Council on 6th November 2019 for a multi-storey mixed use conversion for a retail and residential block comprising approximately 305 sq m (3,283 sq ft) of ground floor retail and 25 apartments above in a mix of 21 x one and 4 x two bed units - please see legal pack. For more information contact Stafford Borough Council: T: 01785 619000. E: planning@staffordbc.gov.uk

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Description

VAT

VAT is not applicable to this lot.

Planning

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x
Stafford Cinema	Ground & First	Cinema	1,117.00 sq m	(12,025 sq ft)	SAMUEL LAVINGTON t/a Stafford Cinema	3 years from 08/10/2019 (1)	£12,500 rising to £15,000 on 07/10/2020
1 Newport Road	Ground First	Retail/Ancillary Ancillary	27.40 sq m 19.04 sq m	(295 sq ft) (205 sq ft)	FIVEWAYS INSURANCE CONSULTANTS LIMITED (2)	5 years from 25/03/2005 (Holding over)	£9,000
2 Bailey Street	Ground	Retail/Ancillary	17.65 sq m	(190 sq ft)	JOHN ABRAHAM AND BINOY LUKOSE t/a Best Shop	3 years from 13/08/2018	£5,500
Total			1,181.09 sq m	(12,715 sq ft)			£27,000

(1) The lease is subject to a mutual rolling break option which can be served subject to 3 months' notice at any time from 08/10/2020, subject to no less than 90 days' notice.
(2) Fiveways Insurance Consultants Limited was established in 1967 and operates from offices in Newport and Stafford.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.