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Offers in Excess of £550,000

6 King Street, Ludlow SY8 1AQ

3326.15 Sq ft.
  • MIXED COMMERCIAL/RESIDENTIAL INVESTMENT IN THE SOUGHT AFTER TOWN OF LUDLOW
  • GROUND FLOOR SHOP UNIT LET TO CREW CLOTHING LIMITED
  • VACANT UPPER LEVELS, BENEFITTING FROM A SEPARATE ACCESS FROM CHURCH WALK, OFFERING A RESIDENTIAL CONVERSION OPPORTUNITY
  • SECURE RENTAL INCOME OF £38,500 PER ANNUM

DESCRIPTION

The premises comprise an attractive part four and part single

storey property located in the town centre of Ludlow. The

commercial part of the property trades as a retail shop on the

ground floor. The upper three floors floor benefit from a separate

entrance from Church Walk and provide vacant accommodation in

a shell condition that would ideally lend themselves to conversion

to residential accommodation, subject to statutory consents.

The premises benefit from a rear yard area accessed from Church

Walk.

The property is of traditional brick construction under a part slate

and part flat felt roof cover.

The ground floor of the property is well presented and the shop

unit benefits from a fully glazed double fronted shop front onto

King Street.

The property is Grade II Listed.

SITUATION

The premises are situated fronting onto King Street in the town

centre of Ludlow, one of the main retail streets in the town centre

and all local amenities are within close proxmity. The property at

the rear abuts Church Walk.

The surrounding occupiers are in retail use, with one of the

town's main car parks being within close proximity.

Ludlow is a sought after, established market and tourist town,

with a population of circa 11,000. It was voted in The Times

recently as one of the loveliest towns to live in. Ludlow has

a reputation for the quality of its food and drink, boasting

excellent bars and restaurants, encouraged by the area's

abundance of quality producers.(All measurements are approximate and measured on a Net Internal Floor Area Basis)



Area Sq m Sq ft

Total Ground Floor 107.1 1,152

First Floor

Room 1 17.804 191.59

Room 2 23.315 251.01

Room 3 29.414 316.56

Room 4 19.438 209.25

Second Floor

Room 5 30.879 332.38

Room 6 18.469 198.8

Room 7 9.585 103.22

Room 8 21.405 230.45

Third Floor 31.673 340.89

(arranged as Sales, Welfare and Store)

Outside: Rear Yard Area with access from Church Walk

External Staircase leading to

The upper floor levels of the property have a separate rear

access from the yard area at the rear of the property and

provide accommodation in a shell condition.The premises are offered for sale freehold, subject to the existing occupational tenancy, under Property Title Number SL58278.

The property is being sold subject to the following occupational lease of the ground floor;

There is an existing lease between Owen John Rafferty and Timothy Terence Rafferty and Crew Clothing Limited for a term of 10 years from the 1st of October 2012.

There was a rent review due with effect from 1st of October 2017, which has not been initiated.

The current rent passing is £38,500 per annum.

The lease is granted on Full Repairing and Insuring Terms (subject to a schedule of condition).

A copy of the lease is available from the selling agents upon request.

The upper floors are vacant.We have made non-verbal enquiries to the local charging authority and we have

been advised as follows:

Rateable Value £18,250

Rates Payable £8,760

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