Available
Oswestry – Retail Shop & Vacant Uppers
23 Cross Street, Oswestry, Shropshire SY11 2NFFreehold Retail Investment with Residential Development Potential
Price
£185,000
Rent P.A.
£10,140
Yield
5.48%
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
4y 10m
Area
2,253 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Rental Income: £10,140 p.a.
- VAT is NOT applicable to this property
- Comprises retail shop at ground floor and self-contained vacant ancillary at first, second and third floor
- Upper floors benefit from separate access, from the rear providing residential development potential STTP
- Situated on one of the town's main retail thoroughfares close to the junction with Leg Street, opposite British Red Cross and amongst retail occupiers such as Coral, Sports Direct, Poundland and many more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises retail shop at ground floor and self-contained vacant ancillary at first, second and third floor. The upper parts benefit from separate access from the rear, providing residential development potential, subject to obtaining planning. The property provides the following accommodation and dimensions:
Ground Floor: Retail Shop - 90 sq m (969 sq ft)
First Floor: 2 Rooms - 44 sq m (474 sq ft)
Second Floor: 3 Rooms - 41 sq m (445 sq ft)
Third Floor: 3 Rooms - 34 sq m (365 sq ft)
Total GIA: 209 sq m (2,253 sq ft)
Ground Floor: Retail Shop - 90 sq m (969 sq ft)
First Floor: 2 Rooms - 44 sq m (474 sq ft)
Second Floor: 3 Rooms - 41 sq m (445 sq ft)
Third Floor: 3 Rooms - 34 sq m (365 sq ft)
Total GIA: 209 sq m (2,253 sq ft)
Tenancy Description
The ground floor shop is at present let to an Individual for a term of 5 Years from 1st November 2024 at a current rent of £10,140 p.a. and the lease contains full repairing and insuring covenants. Rent review in the 3rd year linked to RPI. Tenant option to determine in the 3rd year with minimum 6 months notice. Deposit held of £1,700. Lease within Landlord & Tenant Act 1954.
Tenancies & Accommodation
Location Description
Oswestry is an established market town located approx. 35 miles west of Stoke-on-Trent and approx. 15 miles north-west of Shrewsbury benefitting from good road links via the A5/M54. The property is located on one of the town's main retail thoroughfares close to the junction with Leg Street opposite British Red Cross and amongst such multiples as Barnardo's, Coral, Sports Direct, Poundland, Hays Travel and many more.
