Home > Auctions > December 2022 14 December 2022 - 9:00am > Lot 60

December 2022: Wednesday 14 December 2022 - 9:00am
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Property details

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    Key features

    • A sale and leaseback can be offered on £40,000 p.a. on a new 15 year lease.
    • vacant possession can be granted on one months notice
    • An approx. total 756.74 sqm (8,144 sq ft)
    • Separate entrance at the front to the upper floors of the property
    • Further development potential to self contain the upper parts and convert into residential use ( subject to the requisite consents)
    • Instant asset management potential in its current use or alternative uses (subject to the requisite consents)
    • An approx. 0.1 mile to Wellington Station
    • 6 week completion
    • VAT Free Investment

    Description

    The property is arranged as ground and two upper floors (with basement cellar) and is part two storey and three storey. There is rear access to the property via an alley way which single storey elements on the building.

    The property is a mid terrace building forming part of an established shopping parade located an approx. 0.1 miles from Wellington Station to the north of the property. The property is also located beside the entrance for the pedestrianised town centre.

    Nearby occupiers include Cooperative Funeral care, Wellington Market Centre, Wilko, WHSmith local/Post Office as well as a wide range of local and independent retailers.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please note that the approximate areas have been supplied by the client and believed to comprise of the following. The property has not been inspected by Savills.


    Basement - Cellar (Height Restricted)

    Ground Floor - Bar, Pool Area, Kitchen and Storage

    First Floor - Customer WC, Office, Kitchen, Bathroom and 3 Rooms

    Second Floor - 9 Rooms, Kitchen, Shower Room and former WC


    Basement an approx. 64.15 sqm (690 sq ft)

    Ground Floor an approx. 390.86 sqm (4,207 sq ft)

    First Floor an approx. 171.96 sqm (1,850 sq ft)

    Second Floor an approx. 129.77 sqm (1,396 sq ft)


    Total an approx. 756.74 sqm (8,144 sqft)


    Tenancy

    Option to purchase with a lease through a sale and leaseback arrangement to the existing occupiers or alternatively the property can be provided with vacant possession on one months notice.

    Proposed Lease

    • To be let to The Beacon Pub Ltd
    • 15 Year lease within the LTA 1954
    • 5 Yearly rent reviews
    • To be let on £40,000 p.a.

    Currently the pub is being occupied on a tenancy at Will on £40,000 p.a.

    Notes

    Joint Auctioneer

    A3A4 Licensed Property

    Andrew Robinson

    E: andrew@a3a4licensedproperty.com

    M: 07967 184320


    Please note the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.


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        All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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        Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

        No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

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        Local information

        Telford is the largest town in Shropshire and is about 15 miles east of Shrewsbury.

        The property is located on the western side of Church street and can be found between the junctions of Station Road and Market Street.

        Wellington Station is located an approx. 0.1 miles from the property

        Transport

        Wellington Station - National rail services

        Legal documents

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        EPC rating

        The EPC rating for this property is F

        Guide prices and common auction conditions

        •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

        •The reserve price is the minimum price at which the property can be sold.

        •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

        •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

        Please note that all prices listed, whether prior to or post auction, are subject to contract.

        The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

        The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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