56 Market Street, TF1

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Key Points

Summary

For Sale- Prominent Investment/Future Development Opportunity

Description

The property comprises of a part two and part storey attached property. The property is arranged to provide an investment property that has three income producing tenants. The property provides a Total Net Internal Floor Area of approximately 6,306 ft sq (585.85 m sq). The property benefits from a car park with approximately 16 spaces that is accessed from Bridge Street. There is also pedestrian access to the property from Market Street and Bridge Street.

The two storey part of the subject property is arranged to provide on the ground floor an Estate Agents and within the first floor a gym. This part of the property has a communal ground floor entrance and stairwell that is accessed from Market Street.

The ground floor estate agency provides a Total Net Internal Floor Area of approximately 1,197 ft sq (111.19 m sq) and the first floor gym provides a Total Net Internal Floor Area of approximately 1,193 ft sq (110.78 m sq). At first floor level there are toilet facilities serving the respective parts of the property.

Attached to the rear of the two storey structure is a single storey rear projection provided a retail showroom premises that is a former showroom. The premises is open plan in the main and arranged to provide a Total Net Internal Floor Area of approximately 3,768 ft sq (349.99 m sq) with welfare facilities.

The property has the benefit of a generously sized concrete surfaced car parking area accessed from Bridge Street.

All the occupational leases are outside the Landlord and Tenant Act 1954 which means the property provides either a fully let income producing investment or alternatively a potential redevelopment opportunity for prospective purchasers. The property is located in an area of mixed development. A viewing of the property is strongly recommended to fully understand the potential of the property.
Total Site Area 0.27 acres (0.11hectares).

Location

The property is prominently located at the junction of Bridge Street with Market Street in the Town Centre of Wellington.The property is located on the east side of Bridge Road and on the north side of Market Street. Bridge Street serves as one of the main arterial roads within the road network serving the town of Wellington. Market Street provides a main retail location in the town with surrounding occupiers including B and M, Wellington Market and Aldi

The property is located within proximity of a number of public car parks and the property is in an area in general mixed use.

Wellington is an established market town located approximately 12 miles east of the county town of Shrewsbury and approximately 3 miles north west of Telford town centre. The town had a population of 25,554 at the 2011 census. Wellington is a constituent market town of Telford and has all local amenities. Wellington railway station has three platforms and is served by Avanti West Coast, Transport for Wales and West Midlands Trains.. Wellington is located adjacent to the M54, which provides access to the national road network. The town is located at the terminus of the M54 and benefits from good connectivity to the national road network.

Availability_text

The accommodation comprises the following areas:

Planning

Prospective purchasers should make their own enquiries
We understand that the property has the benefit of planning consent for Use Class E of The Town and Country Use Classes Order.
The property is located in the planning authority of Telford and Wrekin Council.

Services

Not tested prospective purchasers should rely on their own enquiries.

Water - Mains
Foul & Surface Water Drainage- Mains
Gas - Is understood to be available for connection to the property, subject to normal connection charges
Electricity - Mains

Tenure

The property is offered for sale freehold and subject to the following occupational tenancies:

Ground Floor- 56 Market Street, Wellington
A lease between SM Owen, HJ Drenth, PH Pugh, DU Gittins and PM Gittins and Your.Move.co.uk Limited for a term of 3 years from the 29th of September 2021 at a rent of £16,000 per annum. The lease is granted on Tenants Full Repairing and Insuring Terms, subject to service charge provisions. The lease is excluded from the Landlord and Tenant Act 1954 Part 2.

First Floor- 56 Market Street, Wellington
A lease between Derek Pugh, Sheila Margaret Owen and Brenda Violet Gittins and SJM Fitness Limited for a term of 5 years from the 24th April 2020 at a rent of £6,250 per annum. The lease is granted on Tenants Full Repairing and Insuring Terms, subject to service charge provisions The lease is excluded from The Landlord and Tenant Act 1954 Part 2.