Prominent position on the towns main pedestrianised retail thoroughfare
Let to Specsavers Optical Superstores Limited on a renewed lease until 2021 (subject to option)
Nearby occupiers include Nationwide, Iceland, Specsavers, British Heart Foundation and Barnardos
Six Week Completion Available
Lot 40
Auction 10th July 2012
Rent £16,500 per Annum Exclusive
Status Sold
Price £200,000
Sector High Street Retail
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
4 miles west of Telford 10 miles east of Shrewsbury 29 miles north-west of Birmingham
Roads
A5, A442, M54
Rail
Wellington (Shropshire) Rail
Air
Birmingham International Airport
Situation
Wellington is situated between the towns of Telford and Shrewsbury and is well connected via the M54. The property is prominently situated on the north side of the pedestrianised New Street, Wellington’s main retail thoroughfare, which is close to Wellington Rail Station and runs from the bus station to Market Square. Nearby occupiers include Nationwide, Iceland, Specsavers, British Heart Foundation and Barnardos.
Tenure
Freehold.
Location
Miles
4 miles west of Telford 10 miles east of Shrewsbury 29 miles north-west of Birmingham
Roads
A5, A442, M54
Rail
Wellington (Shropshire) Rail
Air
Birmingham International Airport
Situation
Wellington is situated between the towns of Telford and Shrewsbury and is well connected via the M54. The property is prominently situated on the north side of the pedestrianised New Street, Wellington’s main retail thoroughfare, which is close to Wellington Rail Station and runs from the bus station to Market Square. Nearby occupiers include Nationwide, Iceland, Specsavers, British Heart Foundation and Barnardos.
Tenure
Freehold.
Description
The property comprises retail accommodation on the gorund floor with ancillary accommodation on the first floor.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises retail accommodation on the gorund floor with ancillary accommodation on the first floor.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First
Retail Ancillary
234.0 sq m 60.3 sq m
(2,519 sq ft) (649 sq ft)
SPECSAVERS OPTICALSUPERSTORES LIMITED (1) (2)
10 years from 25/11/2011 on a full repairing and insuring lease (3)
£16,500
2016
Totals
294.3 sq m
(3,168 sq ft)
£16,500
(1) For the year ending 28th February 2011, Specsavers Optical Superstores Limited reported a turnover of £390,791,000, pre-tax profits of £21,261,000 and total net worth of £80,512,000. (Source: www.riskdisk.com 12/06/2012) (2)The tenant has occupied this property since 2007 when they took on assignment of the previous lease. (3)The lease provides for a tenant option to determine the lease on the 5th anniversary of the term, with 6 months’ prior written notice.
