Acquired
Widnes – Max Spielmann
34 Albert Road, Widnes, Cheshire WA8 6JEFreehold Shop Investment
Investment Consideration
- Pedestrianised town centre location
- The property comprises of ground floor shop trading as Max Spielmann
- Break clause not exercised on 31.05.2019
- Occupiers nearby include Santander, Coral, The Co-operative Travel, Halifax, Boots, Holland & Barrett among other local shops.
VAT
VAT is not applicable.
Property Description
The property comprises of ground floor retail shop with ancillary storage space on first floor.
The property provides the following accommodation and dimensions:
Ground Floor Shop: 124.00 sq m (1,334 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor Shop: 124.00 sq m (1,334 sq ft)
Tenancy Description
The shop is at present let to Photographic Retail 2008 Limited t/a Max Spielmann for a term of 10 years from 30th June 2016 at a current rent of £17,500 per annum. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants. The tenant has an option to break in 2022 and did not exercise option to break on the 31st May 2019
Tenancies & Accommodation
Location Description
Widnes, with a population in excess of 55,000, is a popular Cheshire town with a busy retail centre. The town boasts good road communications, being situated on the A562 some 4 miles south of Junction 7 of the M62 Motorway, 5 miles north of Junction 12 of the M56 Motorway and 12 miles south-east of Liverpool. Widnes is likely to further improve on completion of the new six-lane bridge over the Mersey which is scheduled for completion in 2017.
