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
    12/Feb/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    Withdrawn Post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
Important Auction & Property Update
  • The Stafford Cinema<br>Newport Road<br>Stafford<br>Staffordshire<br>ST16 2HH
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* More information on the term "price" can be found here

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.

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

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent 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
GroundRetail/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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    22.01.20
    File Size
    756 KB
    View PDF
  • Site Plan
    Updated Date
    22.01.20
    File Size
    750 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 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
Associate Auctioneers
Edward Preece & Co Gate Lodge, Lower Common Uffington
Farringdon
Oxfordshire
SN7 7SG
Edward Preece 01367 820070ep@edwardpreece.co.uk
Seller's Solicitors
Collyer Bristow LLP 4 Bedford Row
London
WC1R 4TF
Simon Edwards 020 7242 7363simon.edwards@collyerbristow.co.uk

Useful Links

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