16 Pride Hill, SY1

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Key Points

Summary

Prime retail investment in sought after town of Shrewsbury

Description

The property comprises of a period building of brick construction under a tiled roof cover with a fully glazed shop front. The property comprises of a four storey property with a lower basement area. The property has a Total Net Sales Area of approximately 640 ft sq (59.45 m sq) and three further upper floor levels providing a variety of ancillary accommodation. There is a lower ground floor/basement area providing stores and welfare facilities and there is a rear fire escape to the rear of the property.

The property is currently fitted out as a travel agents and benefits from a high quality shop fit. In the future the uppers offer potential for future alternative use, subject to statutory consents and provide an asset management opportunity.

The property currently provides a well let retail investment in a popular market town and its potential can only be fully appreciated by undertaking an inspection of the property.

Location

The property is prominently located fronting onto Pride Hill, which serves as the prime retail location in the retail hierarchy serving the town of Shrewsbury. The surrounding occupiers include EE Mobile phones, TH Baker, Superdrug, Nationwide Building Society, Three, Floro Lounge, Clintons, Boots and Hobbs. The property close to the entrance to the Darwin Shopping Centre. Pride Hill has strong footfall 186,000 (August) rising to 223,000 (December 2024).

Availability_text

The accommodation comprises the following areas:

Tenure

The property is held under the ownership of Title Number SL93250.

The property is freehold and sold subject to the following occupational tenancy;

Lease dated 4th of October 2019 between Harley Securities Limited and Just Go Travel Limited(Company Number 04168138) for a term of 10 years from 4th of October 2019 at a rent of £31,754 per annum on Tenants Full Repairing and Insuring basis. The Lease is inside the Landlord and Tenant Act 1954 Part 2.

Planning

(Prospective purchasers should rely on their own enquiries)

The property is understood to benefit from planning consent for Use Class E of The Town and Country Use Classes Order 1987.

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.