55-57 and 58-59 Mardol
Shrewsbury
Shropshire
SY1 1PP

Attractive Freehold Retail Investment

  • Let to two restaurants including Pizza Express
  • Approximately 1,298.57 sq m (13,978 sq ft)
  • Separate access from the front to upper floors on both buildings, with change of use potential (subject to leases and consents)
  • Nearby occupiers include JD Wetherspoon, Lakeland, Next, Vision Express and a number of independent cafés and shops
  • Historic market town
  • Lot
    30
  • Auction
    26/Mar/2020
  • Rent
    £69,500 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
Important Auction & Property Update
  • 55-57 and 58-59 Mardol<br>Shrewsbury<br>Shropshire<br>SY1 1PP
  • Expand
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  • Map

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

Property Information

Location
Miles
14 miles west of Telford
51 miles north-west of Birmingham
Roads
A5, A49, A458
Rail
Shrewsbury
Air
Birmingham Airport
Situation

Shrewsbury is an attractive and historic market town, approximately 14 miles west of Telford and 51 miles north-west of Birmingham. The property is prominently located on the east side of Mardol, at its junction with Mardol Gardens and a short walk to the pedestrianised Pride Hill, Shrewsbury's prime retailing thoroughfare. Nearby occupiers include JD Wetherspoon, Lakeland, Next and a number of independent cafés and shops.

Tenure

Freehold.

Description

The property comprises two restaurants. Pizza Express (55-57 Mardol) is arranged on the ground, first and second floors, with the upper floors formerly used as residential. 58-59 Mardol is arranged on the ground, basement, first, second and third floors. Both restaurants benefit from separate access to the upper floors. 58-59 Mardol is Grade II listed.

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk.

Tenancy & Accommodation

 FloorUseFloor Areas (Approx)TenantTermRent p.a.x.Review
55-57Ground
First


Second


Restaurant
Ancillary
(former
residential)
Ancillary
(former
residential)
343.07 sq m
162.30 sq m


110.09 sq m

(3,693 sq ft)
(1,747 sq ft)


(1,185 sq ft)
PIZZA EXPRESS
(RESTAURANTS)
LIMITED (1)
25 years
from
14/12/2000
until
13/12/2025
£37,00014/12/2020
58-59Ground
Basement
First
Second
Third
Restaurant
Ancillary
Ancillary
Ancillary
Ancillary
344.39 sq m
43.48 sq m
187.94 sq m
86.40 sq m
20.90 sq m
(3,707 sq ft)
(468 sq ft)
(2,023 sq ft)
(930 sq ft)
(225 sq ft)
BIG PIG
SMOKEHOUSE
LIMITED
15 years
from
28/09/2017
until
27/09/2032
(2)
£32,500
(rising to
£35,000 on
29/09/2020)
28/09/2022
& 5 yearly
thereafter
Total
1,298.57 sq m
(13,978 sq ft)
  £69,500 

(1) For the year ending 30th December 2018, Pizza Express (Restaurants) Limited reported a turnover of £397,837,000, pre-tax profits of £60,100,000 and a total net worth of £770,248,000 (source: Experian Group 25/02/2020).
(2) The lease is subject to a tenant option to determine on 29/09/2022 and 29/09/2027. If exercised, a rent penalty of £5,000 is to be paid by the tenant. The tenant is not currently in occupation.

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    16.03.20
    File Size
    20 MB
    Login to View
  • Catalogue Page
    Updated Date
    04.03.20
    File Size
    885 KB
    View PDF
  • Site Plan
    Updated Date
    04.03.20
    File Size
    887 KB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 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
Dentons UKMEA LLP Dentons UK and Middle East LLP, The Pinnacle, 170 Midsummer Boulevard
Milton Keynes
MK9 1FE
Charlotte Stevens 020 7320 3980charlotte.stevens@dentons.com

Useful Links

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