Freehold Shopping Centre Investment with Development Potential (subject to consents)
Substantial Shopping Centre providing 6,546 sq. m. (70,469 sq. ft.) (1)
Extensive Town Centre Site Totalling 0.7 Ha (1.73 Acres)
Affluent Wiltshire Town
Currently provides Retail, Leisure & Office accommodation together with an Indoor Market and Car Parking
Strategic Town Centre Location linking Market Street to St Stephens Place Leisure Park
Development Potential (subject to consents)
Asset Management Opportunities
Lot 16
Auction 13th December 2023
Rent £241,081 per Annum
Status Sold
Price £534,000
Sector Shopping Centre
Auction Venue Live Streamed Auction
On Instructions of a Fund Manager
Property Information
Location
Miles
8 miles south-east of Bath, 14 miles south-west of Chippenham, 25 miles south-east of Bristol, 21 miles west of Marlborough
Roads
A36, A350, A361
Rail
Trowbridge Railway Station
Air
Bristol Airport
Situation
Trowbridge is an attractive town set in the Wiltshire countryside, a popular shopping and tourist destination that benefits from direct transport links to London, Bath and Bristol. The main entrance to the shopping centre is prominently situated on Market Street close to the junction with Castle Street in the centre of Trowbridge. Trowbridge Town Hall neighbours the property to the east (currently undergoing an £8.5m refurbishment programme), The Shire Shopping Centre is located immediately to the north west and Trowbridge Town Park to the south east. The St. Stephen's Place Multi Storey Car Park is immediately to the south of the property and provides several points of entry to the centre as well as free 24 hour parking, one of very few free car parking facilities in Trowbridge town centre. Other nearby occupiers include Odeon Cinema, Premier Inn, Wagamama, Nando's (within the St. Stephen's Place Leisure Park), JD Wetherspoon and Anytime Fitness.
Tenure
Freehold.
Location
Miles
8 miles south-east of Bath, 14 miles south-west of Chippenham, 25 miles south-east of Bristol, 21 miles west of Marlborough
Roads
A36, A350, A361
Rail
Trowbridge Railway Station
Air
Bristol Airport
Situation
Trowbridge is an attractive town set in the Wiltshire countryside, a popular shopping and tourist destination that benefits from direct transport links to London, Bath and Bristol. The main entrance to the shopping centre is prominently situated on Market Street close to the junction with Castle Street in the centre of Trowbridge. Trowbridge Town Hall neighbours the property to the east (currently undergoing an £8.5m refurbishment programme), The Shire Shopping Centre is located immediately to the north west and Trowbridge Town Park to the south east. The St. Stephen's Place Multi Storey Car Park is immediately to the south of the property and provides several points of entry to the centre as well as free 24 hour parking, one of very few free car parking facilities in Trowbridge town centre. Other nearby occupiers include Odeon Cinema, Premier Inn, Wagamama, Nando's (within the St. Stephen's Place Leisure Park), JD Wetherspoon and Anytime Fitness.
Tenure
Freehold.
Description
The Castle Place Shopping Centre is a substantial covered scheme currently arranged to provide 12 ground floor retail units (although capable of further subdivision), together with a council run leisure centre and some office accommodation on the first and second floors fronting Market Street. The shopping centre also provides 3 kiosks, an indoor market hall with space for approximately 33 stalls as well as car parking spaces on the roof, accessed via St Stephen's Place multi storey car park, which have been sold off on a long lease (further details available within the legal pack). The approximate floor area NIA of the shopping centre together with the market hall totals 6,546 sq. m. (70,469 sq. ft.) (1) on an approximate site area of 0.7 Ha (1.73 Acres). Part of the frontage on to Market Street holds a Grade II Listed status.
The current gross income is approximately £241,081 per annum. A full tenancy schedule will be available to view within the solicitor's legal pack. The current owner has recently undertaken substantial roof repairs. Further details are available within the legal pack. (1) The total approximate Net Internal Area has been provided by the Seller. These approximate floor areas are for use as a guide only and do not form part of the contract of sale.
VAT
VAT is applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to necessary consents/permissions. A third party "Masterplan Castle Place Trowbridge" has been included within the Legal Pack. Interested Parties are referred to Wiltshire County Council - Tel 0300 456 0113 - www.wiltshire.gov.uk/planning-building-control
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The Castle Place Shopping Centre is a substantial covered scheme currently arranged to provide 12 ground floor retail units (although capable of further subdivision), together with a council run leisure centre and some office accommodation on the first and second floors fronting Market Street. The shopping centre also provides 3 kiosks, an indoor market hall with space for approximately 33 stalls as well as car parking spaces on the roof, accessed via St Stephen's Place multi storey car park, which have been sold off on a long lease (further details available within the legal pack). The approximate floor area NIA of the shopping centre together with the market hall totals 6,546 sq. m. (70,469 sq. ft.) (1) on an approximate site area of 0.7 Ha (1.73 Acres). Part of the frontage on to Market Street holds a Grade II Listed status.
The current gross income is approximately £241,081 per annum. A full tenancy schedule will be available to view within the solicitor's legal pack. The current owner has recently undertaken substantial roof repairs. Further details are available within the legal pack. (1) The total approximate Net Internal Area has been provided by the Seller. These approximate floor areas are for use as a guide only and do not form part of the contract of sale.
VAT
VAT is applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to necessary consents/permissions. A third party "Masterplan Castle Place Trowbridge" has been included within the Legal Pack. Interested Parties are referred to Wiltshire County Council - Tel 0300 456 0113 - www.wiltshire.gov.uk/planning-building-control
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
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.
