Freehold Retail Investment with Prior Approval for Residential at First Floor
Includes two shops trading as The Hideaway Tea Shop and Kiku Sushi & Bubble Tea
Vacant separately-accessed first floor with prior approval for 4 x 1 bed flats
Pedestrianised town centre location, close to Coopers Square Shopping Centre
Nearby retailers include Marks & Spencer, Boots the Chemist, Superdrug, Costa, River Island, Primark, WHSmith, McDonald's and a JD Wetherspoon
Lot 32
Auction 9th July 2024
Rent £31,500 per Annum Exclusive plus vacant first floor with Prior Approval for Residential
Status Sold
Price £293,000
Sector High Street Retail, Residential, Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
22 miles south-west of Nottingham, 25 miles north-east of Birmingham, 25 miles north-west of Leicester
Roads
A38, A511, A5121, A5189
Rail
Burton-on-Trent Railway Station
Air
Birmingham Airport
Situation
The property is prominently situated on the south side of the pedestrianised Station Street, in the heart of the town centre, close to Coopers Square Shopping Centre. Nearby retailers include Marks & Spencer, Boots the Chemist, Superdrug, Costa, River Island, Primark, WHSmith, McDonald's and a JD Wetherspoon.
Tenure
Freehold.
Location
Miles
22 miles south-west of Nottingham, 25 miles north-east of Birmingham, 25 miles north-west of Leicester
Roads
A38, A511, A5121, A5189
Rail
Burton-on-Trent Railway Station
Air
Birmingham Airport
Situation
The property is prominently situated on the south side of the pedestrianised Station Street, in the heart of the town centre, close to Coopers Square Shopping Centre. Nearby retailers include Marks & Spencer, Boots the Chemist, Superdrug, Costa, River Island, Primark, WHSmith, McDonald's and a JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises two shops arranged on the ground floor, with separately-accessed former office accommodation arranged on the first floor, accessed from the front.
VAT
VAT is applicable to this lot.
Planning
Prior approval was granted on 05/12/2023 from East Staffordshire Borough Council (R: P/2023/01143) for the change of use from Commercial use (Class E) to Residential (Class C3) for 4 flats on the first floor. (www.eaststaffsbc.gov.uk).
Completion Period
Six Week Completion
EPC
The EPC's will be available to view online in the solicitor’s legal pack.
Description
The property comprises two shops arranged on the ground floor, with separately-accessed former office accommodation arranged on the first floor, accessed from the front.
VAT
VAT is applicable to this lot.
Planning
Prior approval was granted on 05/12/2023 from East Staffordshire Borough Council (R: P/2023/01143) for the change of use from Commercial use (Class E) to Residential (Class C3) for 4 flats on the first floor. (www.eaststaffsbc.gov.uk).
Completion Period
Six Week Completion
EPC
The EPC's will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas (Approx sq ft) (1)
Tenant
Term
Rent p.a.x.
Ground (17 Station Street)
Retail/Ancillary
152.11
(1,637)
THE HIDEAWAY BURTON LIMITED (t/a The Hideaway)
5 years from 21/02/2022
£19,500
Ground (18 Station Street)
Retail/Ancillary
70.50
(758)
Y. WANG (t/a Kiku Sushi & Bubble Tea)
5 years from 13/01/2021
£12,000
First (19 Station Road)
Former Offices
149.57
(1,610)
VACANT
-
-
Total
372.18
(4,005)
£31,500
(1) Areas provided by VOA (www.gov.uk/find-business-rates)
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.
