Available
Newport – Boots Pharmacy
50-56 High Street, Newport, Shropshire TF10 7AQFreehold Retail Investment
Price
£650,000
Rent P.A.
£51,000
Yield
7.85%
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
2y 6m
Area
4,630 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Tenant in occupation since 1935
- No.54 High Street Grade II Listed
- Comprises part two storey, part three storey retail premises trading as Boots Pharmacy
- Future residential development potential subject to vacant possession and planning
- Nearby occupiers include B&M (adjacent), Waitrose, Nationwide (opposite), Costa Coffee, Subway and a number of local traders.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property comprises part two, part three storey retail premises with rear single storey extension, providing the following accommodation and dimensions:
Ground Floor: 384.53 sq m (4,139 sq ft)
Basement: 45.62 sq m (491 sq ft)
First Floor: Not inspected
Second Floor: Not inspected
Future residential development potential subject to vacant possession and obtaining the necessary consents.
Ground Floor: 384.53 sq m (4,139 sq ft)
Basement: 45.62 sq m (491 sq ft)
First Floor: Not inspected
Second Floor: Not inspected
Future residential development potential subject to vacant possession and obtaining the necessary consents.
Tenancy Description
The property is at present let to Boots UK Limited for a term of 5 years from 10th June 2022 at a current rent of £51,000 per annum and the lease contains full repairing and insuring covenants. No breaks. Tenant in occupation since 1935.
Tenancies & Accommodation
Location Description
Newport is an attractive Shropshire market town located some 10 miles north east of Telford and 18 miles east of Shrewsbury. The Town is midway between the M6 (junctions 13 and 14) and the M54 (junctions 5 and 6) on the intersection of the A 518 and A41. Harper Adams University campus is approximately 2 miles to the north-west of the town. The property is situated on the eastern side of the High Street. Occupiers close by include B&M (adjacent), Waitrose, Nationwide (opposite), Costa Coffee, Subway and a number of local traders.
