4-7 and 7a Gaolgate Street Stafford Staffordshire ST16 2BG

4-7 and 7a Gaolgate Street
Stafford
Staffordshire
ST16 2BG

High Yielding Freehold Retail/Office Investment & Development Opportunity

  • Three shops with two floors of self-contained offices above
  • Let to EE, Game and GPRS Recruitment (on 10 year lease renewal (with options) from May 2019)
  • Circa 870.97 sq m (9,379 sq ft)
  • Possible Change of Use opportunity for upper floors (subject to lease and consents)
  • Asset Management opportunities
  • Prominent town centre location, facing Market Square and next to Guidhall Shopping Centre
  • Nearby occupiers include Costa Coffee, Sports Direct, H. Samuel, Holland & Barrett and Boots the Chemist
  • Lot
    30
  • Auction
    21st May 2020
  • Rent
    £91,500 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Charity
Important Update
  • Expand
  • Photos
  • Map

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

High Yielding Freehold Retail/Office Investment & Development Opportunity

  • Three shops with two floors of self-contained offices above
  • Let to EE, Game and GPRS Recruitment (on 10 year lease renewal (with options) from May 2019)
  • Circa 870.97 sq m (9,379 sq ft)
  • Possible Change of Use opportunity for upper floors (subject to lease and consents)
  • Asset Management opportunities
  • Prominent town centre location, facing Market Square and next to Guidhall Shopping Centre
  • Nearby occupiers include Costa Coffee, Sports Direct, H. Samuel, Holland & Barrett and Boots the Chemist
  • Lot 30
  • Auction 21st May 2020
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Charity

Property Information

Location
Miles
15 miles south of Stoke-on-Trent
26 miles north-west of Birmingham
Roads
A34, A449, M6
Rail
Stafford
Air
Birmingham Airport
Situation

Stafford, 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 in the heart of Stafford town centre, on the west side of Gaolgate Street, at it's junction with Crabbery Street and opposite Market Square. Nearby retailers include Costa Coffee, Sports Direct, H. Samuel, Holland & Barrett and Boots the Chemist.

Tenure

Freehold.

Location
Miles
15 miles south of Stoke-on-Trent
26 miles north-west of Birmingham
Roads
A34, A449, M6
Rail
Stafford
Air
Birmingham Airport
Situation

Stafford, 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 in the heart of Stafford town centre, on the west side of Gaolgate Street, at it's junction with Crabbery Street and opposite Market Square. Nearby retailers include Costa Coffee, Sports Direct, H. Samuel, Holland & Barrett and Boots the Chemist.

Tenure

Freehold.

Description

The property comprises three shops arranged on the ground floor and separately accessed offices arranged on first and second floors, accessed from Crabbery Street. The property has recently undergone a major external improvement programme to include new windows, cleaning and re-pointing to all elevations.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises three shops arranged on the ground floor and separately accessed offices arranged on first and second floors, accessed from Crabbery Street. The property has recently undergone a major external improvement programme to include new windows, cleaning and re-pointing to all elevations.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

  Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x
4-5 Gaolgate Ground Retail
85.86 sq m
(925 sq ft)
EE LIMITED (1) 5 years from 28/09/2017
until 28/09/2022 (2)
£38,250
6-7 Gaolgate Ground Retail
159.46 sq m
(1,717 sq ft)
GAME RETAIL LIMITED
(3)
5 years from 25/12/2015
until 24/12/2020
£43,250
7a Gaolgate Ground Retail
137.23 sq m
(1,477 sq ft)
VACANT - -
First Floor First Office
303.33 sq m
(3,265 sq ft)
GIRAFFE PERMANENT
RECRUITMENT
SPECIALISTS LIMITED (4)
10 years from
22/05/2019 until
21/05/2029 (5)
£10,000
Second Floor Second Office
185.09 sq m
(1,995 sq ft)
VACANT - -
Total
870.97 sq m
(9,379 sq ft)
    £21,000

(1) For the year ending 31st March 2019, EE Limited reported a turnover of £7,149,000,000, pre-tax profits of £1,440,000,000 and shareholder funds of £5,191,000,000 (source: Smart Search 15/04/2020).
(2) The lease was subject to a tenant option to determine on 28/09/2020. This break option was removed, in return for a 3 month rent free period commencing on 29/09/2020.
(3) For the year ending 28th July 2018, Game Retail Limited reported a turnover of £478,242,000, pre-tax profits of £-11,290,000 and shareholder funds of £84,943,000 (source: Smart Search 15/04/2020).
(4) Founded in 2013, GPRS were the fourth-highest recruitment agency across the UK, and the highest-ranking business of any size in Staffordshire (www.gprs.com/about/ 15/05/2020).
(5) The lease is subject to a tenant option to determine on 22/05/2022 and 22/05/2024. The tenant has a Service Charge cap of £2,500 per annum.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Catalogue Page
    Updated Date
    01.05.20
    File Size
    664 KB
    View PDF
  • Site Plan
    Updated Date
    01.05.20
    File Size
    406 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 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
Associate Auctioneers
Louis Taylor Commercial 14 Smokies Way, Biddulph
Stoke-on-Trent
Staffordshire
ST8 6TZ
Ian Cotterill 01785 339922ian.cotterill@louis-taylor.co.uk
Seller's Solicitors
Pickering & Butters LLP 19 Greengate Street,
Stafford
Staffs
ST16 2LU
Sean Spinetto 01785 236419sean.spinetto@pb4law.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now