1 & 2, Plough Road, TF1

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Key Points

Summary

For Sale- property investment/development opportunity

Description

The property comprises of a substantial attached property that is currently arranged as two tenanted properties that provide a beautician and offices. The property provides a substantial property that provides a Total Net Internal Floor Area of approximately 3,197 ft sq (296.98 m sq) and a basement area. The property is in part two and part single storey and is of traditional construction.

1 Plough Street provides a two storey property that is currently fitted out for its use as a beauty salon that is arranged over two floors. The property is arranged as salons and welfare facilities and ground floor with a Total Net Internal Floor Area of approximately 705 ft sq (65.49 m sq) and a first floor with a Total Net Internal Floor Area of approximately 467 ft sq (43.38 m sq). The basement in the property provides a Total Gross Internal Floor Area of approximately 123 ft sq (11.42 m sq).

2 Plough Street provides a two storey property that is arranged as offices over the two floors. The offices provide office and welfare facilities. The ground floor provides a Total Net Internal Floor Area of approximately 1,155 ft sq ( 107.29 m sq) and the first floor provides a Total Net Internal Floor Area 870 ft sq (80.82 m sq).

The property is currently income producing but has significant future development and asset management potential subject to statutory consents.

Location

The property is prominently located fronting onto Plough Street at the junction with Church Street in the town centre of the town of Wellington. The property is located in an area of mixed development. The surrounding occupiers include Kwik Fit, Dream Door, Body and Mind and Face at Tyme.

Wellington is a market town of Telford and a civil parish in the borough of Telford and Wrekin, Shropshire, England. It is situated 3 miles north-west of Telford town centre and 12 miles east of Shrewsbury; the summit of The Wrekin lies 3 miles south-west of the town. The population of the town was 25,554 in 2011.

Terms

The property is offered for sale freehold under the Title Number SL17510.

The property is sold subject to the following occupational tenancies (copies available from the selling agents upon request)

1 Plough Street- 10 year lease from 12th of August 2019. Rent £8,000 per annum and granted on Tenants Internal Repairing and full insuring terms. The lease expiry is 11th August 2029. Next rent review 12th August 2025. Tenant option to determine has expired and lease is outside the Landlord and Tenant Act 1954 Part 2

2 Plough Street- original 10 years from 5th of January 2020, but a Deed of Variation so now the tenant has served notice and they vacate on 5th of July 2025. Rent £13,500 per annum. The lease is granted on Tenants Internal Repairing and Insuring terms.

Availability_text

The accommodation comprises the following areas:

Accomodation

All measurements are approximate

1 Plough Street
Ground Floor- Total Net Internal Floor Area 705 ft sq (65.49 m sq)
First Floor- Total Net Internal Floor Area 467 ft sq (43.38 m sq)
Basement- Total Gross Internal Floor Area 123 ft sq (11.42 m sq)

2 Plough Street
Ground Floor- Total Net Internal Floor Area 1,155 ft sq (107.29 m sq)
First Floor- Total Net Internal Floor Area 870 ft sq (80.81 m sq)

Services

(not tested at the effective the time of our inspection)

The property is understood to benefit from mains water, drainage, gas and electricity. The two properties are understood to benefit from separate metered supplies.

Planning

The property is understood to have planning consent for its uses that fall within Use Class E of the Town and Country Use Classes Order.

The property has potential for future development for a variety of potential uses subject to statutory consents.

Tenure

The property is offered for sale freehold under the Title Number SL17510.

The property is sold subject to the following occupational tenancies (copies available from the selling agents upon request)

1 Plough Street- 10 year lease from 12th of August 2019. Rent £8,000 per annum and granted on Tenants Internal Repairing and full insuring terms. The lease expiry is 11th August 2029. Next rent review 12th August 2025. Tenant option to determine has expired and lease is outside the Landlord and Tenant Act 1954 Part 2

2 Plough Street- original 10 years from 5th of January 2020, but a Deed of Variation so now the tenant has served notice and they vacate on 5th of July 2025. Rent £13,500 per annum. The lease is granted on Tenants Internal Repairing and Insuring terms.

Anti-money laundering (AML) checks

We are legally obligated to undertake anti-money laundering checks on all property purchasers. Whilst we are responsible for ensuring that these checks, and any ongoing monitoring, are conducted properly; the initial checks will be handled on our behalf by a specialist company, Movebutler, who will reach out to you once your offer has been accepted.

The charge for these checks is £30 (including VAT) per purchaser, which covers the necessary data collection and any manual checks or monitoring that may be required. This cost must be paid in advance, directly to Movebutler, before a memorandum of sale can be issued, and is non-refundable. We thank you for your cooperation.