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AGENT'S DETAILS


Wellington – Freehold Shop & Ground Rent Investment

For sale: £150,000.00|721 Sq Ft|Residential, Retail - High Street, Mixed Use, Retail, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£150,000.00
SIZE721 Sq Ft
ADDRESS2 Market Square, Telford, Wellington, Shropshire TF1 1BP
TYPEResidential, Retail - High Street, Mixed Use, Retail, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON31st May 2020

DESCRIPTION

Investment Consideration:
Pedestrianised town centre location.
Grade II Listed, the property is arranged on basement, ground and two upper floors to provide a ground floor shop with two flats above which have been sold off on a long lease.
VAT is applicable to this property.
Occupiers close by include Thomson, Greggs, Lloyds Pharmacy, Coral, Boots, Wilko and Wellington market, which is a major attraction.

Property Description:
The property is arranged on basement, ground and two upper floors to provide a ground floor shop with two flats above which have been sold off on a long lease.

The property provides the following accommodation and dimensions:
Ground Floor Shop: 67.00 sq m (721 sq ft)

Tenancy:
The shop is at present let to The Coffee Den for a term of 10 years from 24th January 2013 at a current rent of £14,000 per annum and the lease contains full repairing and insuring covenants. The first and second floor residential flats are sold off on long leasehold to an individual for a term of 125 years from 29th May 2008 at a current rent of £100 per annum (£50 per annum for each flat).

Location:
Wellington is located north of the M54 Motorway and is one of the three satellite towns of Telford. The town is situated some 10 miles east of Shrewsbury and approximately 20 miles north-west of Wolverhampton. This Grade II listed property, which is in a conservation area, occupies a prominent position and benefits from frontages to the pedestrianised Market Square and Market Street in the heart of the town centre. Occupiers close by include Thomson, Greggs, Lloyds Pharmacy, Coral, Boots, Wilko and Wellington market, which is a major attraction.

LOCATION

Location: 2 Market Square, Telford, Wellington, Shropshire TF1 1BP

Wellington (Shropshire) (0.1 miles)

Oakengates (2.9 miles)

Telford Central (3.5 miles)

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