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£80,000

10-12 Shropshire Street, Market Drayton, Shropshire TF9 3BY

  • Prominent retail investment
  • Showing an initial yield of 9%
  • Current passing rent £7,200 per annum
  • An existing term of 6 years from 2nd July 2018
  • GIA 94.9m sq (1,021 sq ft)

LOCATION
The property is prominently located on Shropshire Street in the centre of Market Drayton.
The total population of Market Drayton is 11,773 (2011 census), which is an increase of 8.1% on the 2001 figure and indicates that the town is growing faster than the county average and major employers in the town include Müller and Kerry Group.
Market Drayton is a north Shropshire market town, located approximately 20 miles north east of Shrewsbury, 14 miles south west of Newcastle-under-Lyme and 22 miles north of Telford. The town benefits from excellent road communications being located on the A53, which connects Newcastle-under-Lyme with Shrewsbury.
The town is seeing significant inward investment in areas such as Tern Valley Business Park.

DESCRIPTION
The property offers a ground floor retail premises, currently trading as a convenience store.

The property is subject to a lease of 6 years from 2nd July 2018 at a passing rent of £7,200 per annum, there is an upward only rent review at the fourth anniversary 2nd June 2022.

INVESTMENT SUMMARY
The property is currently let to Krzysztof Salik, for a term of six years commencing 2nd July 2018 on Fully Repairing and Insuring terms - the Tenant is liable for all rates/utilities.

The passing rent is £7,200 per annum (exclusive) paid monthly in advance by standing order.

There is to be an upward only rent review at the forth anniversary 2nd June 2022. A copy of the lease is available upon request from the selling agents.

TENURE
Leasehold held Title Number: SL213184
999 years from 25 March 2011 at a peppercorn rent.

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