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The Farriers, Annscroft, Shrewsbury, Shropshire SY5 8AN

19347 Sq ft.
  • Established Commercial Estate comprising a variety of Workshops / Commercial Business Space / Offices
  • Located on the edge of Annscroft and within close proximity of the county town of Shrewsbury
  • Total Gross Internal Floor Area of approximately 19,347 sq ft (1,797.22 sq m)
  • The estate is currently at 100% occupancy (with the exception of the mezzanine in Unit 1)

INVESTMENT SUMMARY

1. A very well maintained commercial investment, currently arranged as 16 separated units, offering a range of workshops, commercial business space and office accommodation, which provide a Total Gross Internal Floor Area of approximately 19,347 sq ft (1,797.22 sq m).

2. Located on the edge of Annscroft, approximately 5 miles from the centre of the county town of Shrewsbury.

3. Opportunity for further potential asset management via the construction of the two new detached commercial units on the accommodation land granted planning under Planning Consent Reference 16/04303/FUL.

4. Total Site Area 2.74 acres (1.109 hectares).

5. Low site density of approximately 20%, which provides asset management potential.

6. The estate is currently at 100% occupancy (with the exception of the mezzanine in Unit 1).



PROPOSAL

We are instructed to seek proposals for our client's freehold interest subject to the occasional leases, in excess of £1,200,000 (one million two hundred thousand pounds) (exclusive), subject to contract, which shows a net initial yield of 9.27% after

purchasers costs.

(This ignores the personal rental allowance on Unit 1. If this is allowed, it would show a net initial yield of 8.34% after purchasers costs).



SITUATION/LOCATION

The property is located on the edge of Annscroft, approximately 5 miles from the town centre of Shrewsbury, where all local amenities are available.

The surrounding properties are in part residential and part agricultural use.

The property is located just off the main Shrewsbury to Bishops Castle Road (A5112).

The Farriers is situated on the edge of the village of Annscroft, approximately 5 miles from the centre of Shrewsbury.

Shrewsbury is the county town of Shropshire. Road communications are excellent with the A5 ring road leading to the M54, 8 miles to the east, which leads to Junctions 10 and 11 of the M6 motorway and the rest of the national motorway network. Shrewsbury railway station provides direct services to Telford, Wolverhampton, Birmingham and London.



DESCRIPTION

The property comprises a 16 unit commercial estate consisting of workshops, business space and office accommodation, arranged within a Total Site Area of approximately 2.74 acres (1.109 hectares).

The estate benefits from a general provision of on site car parking and accommodation land (benefitting from planning consent to part for the construction of two new industrial units).

The multi-occupied commercial estate comprises two modern detached property structures, which are constructed of steel portal framework and clad in part profile sheeting and part brickwork.

There is further asset management potential via the construction of two new detached commercial units that are proposed to be constructed on the accommodation land.

The property currently provides Total Gross Internal Floor Area of approximately 19,347 sq ft (1,797.22 sq m).

Unit 1 is currently subdivided into five sections with four occupational leases in existence, and the mezzanine area of 446 sq ft, which is currently vacant.

Further details are available from the selling agents upon request.The property provides the following accommodation (all measurements are approximate).

Based upon Total Gross Internal Floor Area Basis.



As Existing

UNIT M2 FT2

Unit 1 381.98 sq m 4,112 sq ft

Unit 2 60.07 sq m 652 sq ft

Unit 2A 75.12 sq m 809 sq ft

Unit 3 32.28 sq m 347 sq ft

Unit 3A (Ground) 59.81 sq m 644 sq ft

Unit 3A (First) 54.02 sq m 583 sq ft

Unit 3A1 (Ground) 32.52 sq m 350 sq ft

Unit 4A 117.50 sq m 1,265 sq ft

Unit 4B 77.57 sq m 835 sq ft

Unit 4C 104.93 sq m 1,098 sq ft

Unit 5 43.20 sq m 465 sq ft

Unit 6 (ground) 110 sq m 1,184 sq ft

Unit 6 (first) 222.2 sq m 2,368 sq ft

Unit 7 107.9 sq m 1,161 sq ft

Unit 8 108.34 sq m 1,166 sq ft

Unit 9 108.34 sq m 1,166 sq ft

Unit 10 106.23 sq m 1,142 sq ft



New Build Units

Unit 1 270.8 sq m 2,907 sq ft

Unit 2 359.96 sq m 3,875 sq ft

Total Site Area 2.74 acres 1.109 hectaresThe property is offered for sale on a freehold under Property Title Number SL85057.

The property is sold subject to a variety of occupational tenancies as per the tenancy

schedule provided in these particulars. The leases are granted on Tenants Full Repairing

and Insuring Terms, subject to service charges, which are capped at 5% of the annual rent.

The service charge levied includes all the tenants liabilities for any water costs (both direct

usage and surface water costs).

Further details are available upon request from the selling agents.

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