Acquired
Newcastle-under-Lyme – Charity Shop
55 Ironmarket, Newcastle-under-Lyme, Staffordshire ST5 1PEFreehold Retail Investment
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
Holding Over
Area
1,945 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises ground floor shop with ancillary accommodation above
- Tenant did NOT exercise break clause in 2022
- Occupiers nearby including Halifax, Cafe Nero, Ryman Stationery and New Look, amongst other retailers.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property comprises mid-terrace ground floor shop with ancillary accommodation at first and second floor, providing the following accommodation and dimensions:
Ground Floor: Shop 101.20 sq m (1,089 sq ft)
First Floor: Ancillary 38.70 sq m (417 sq ft)
Second Floor: Ancillary 40.80 sq m (439 sq ft)
Total area size: 180.70 sq m (1,945 sq ft)
Ground Floor: Shop 101.20 sq m (1,089 sq ft)
First Floor: Ancillary 38.70 sq m (417 sq ft)
Second Floor: Ancillary 40.80 sq m (439 sq ft)
Total area size: 180.70 sq m (1,945 sq ft)
Tenancy Description
The property is at present let to Oxfam for a term of 5 years from 19th October 2019 at a current rent of £18,750 per annum and the lease contains full repairing and insuring covenants. Tenant in occupation since 2009. Tenant did NOT exercise break clause in 2022.
Tenancies & Accommodation
Location Description
Newcastle-under-Lyme is a market town and the administrative centre of the Borough of Newcastle-under-Lyme in Staffordshire, England. The town is served by the M6 motorway to the south and west of Newcastle and by the A500 road to the north and east. There are access points from the M6 at junctions 15 and 16, to the south and north respectively. The A34 trunk road runs through Newcastle from north to south and was the main road between Birmingham and Manchester until the M6 motorway opened. There is a large bus station in the town centre. The property is located in the town centre with occupiers nearby including Halifax, Cafe Nero, Ryman Stationery and New Look, amongst other retailers.