16 BROAD STREET, LUDLOW, SHROPSHIRE, SY8 1NQ
16 BROAD STREET, LUDLOW, SHROPSHIRE, SY8 1NQ Investment for sale Prominently located bank premises, with redevelopment potential (subject to planning)
El Sta Sub
12
3
16 17 to
13
60
11
3
4
14
57
55
53
51
T TREE
52
e rtim Mo
rC
our
t
Garth se Hou
The Stables
17
AD S
5
h Churc st s Ne Crow
Bank
1
BRO
ays Archw mbles Bra The
6 to 8
ford Ash s Mew
15
es
Grooms Cottage
The Old Bakery
1
12
13
56
16
5
58
10
5 16
24
8
PH
rewers Cottage
urt d Co Guil er's Palm Cottage rn o tH Pos se h Ho u Coac
l Ange The1 to 34
8
67
69
ST
68 to
5 6
KET MAR
3 1 WALK TINES VALEN
m 99.5
T REE
34
ST GH
Branlea
17
6 49
9
10
LA BRAND
NE
48
47
1
LANE BELL
13
23
5
21
PW 7
97.9m
27
an rt
21a
22
8b
h Coac Little use Ho
5
8
12
LB
8a
46
42
11
2
42a
28
Description Three storey, terraced, period office building, with additional basement area and roof space.
Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale -
LOWE
38
12
15
39
Ho
1 2
9
Boyne
16
1
6
2
6
3
3
4
9
91.7m
Investment • 8 years unexpired to Lloyds TSB Bank PLC • Future redevelopment potential to residential • Prominently located period property, in close 0m 10m 20m 30m proximity to Ludlow Town Centre • Current rent £33,500 per annum • Offers based on £575,000 which reflects a net initial yield of 5.5% (assuming costs of 5.80%) • Superb opportunity to take 8 years of secure income and undertake residential conversion if tenant does not renew (subject to planning). Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250
Location Ludlow is the largest Market town in the South Shropshire district and is 43 miles from Birmingham, 30 miles from Worcester and 24 miles from Hereford. The property is prominently located fronting the Eastern side of Broad Street, approximately 50 metres South of it’s junction with High Street, within walking distance of Ludlow Town Centre.
1:20000
The ground floor comprises the main banking hall, with additional offices and meeting rooms to the rear. The first and second floor in the main comprise additional offices, meeting rooms and rooms currently utilised for archive storage. The first floor also comprises a self contained two bedroom residential apartment which benefits from it’s own access to the side of the property. There is a basement area, with integrated vault / safe which is currently used for additional storage. In addition to this, there is a substantial roof / loft area which benefits from fixed stair access and has been boarded in part. Externally, the property benefits from a landscaped, walled garden area to the rear.
The property lies in an area containing a mixture of commercial, retail and residential properties.
Accommodation Floor areas below are derived from floor plans: Basement Ground floor First floor Second floor ITZA Total NIA
595 sq ft (55.28 sq m) 2,167 sq ft (201.32 sq m) 1,602 sq ft (148.78 sq m) 1,284 sq ft (119.30 sq m) 1,140 sq ft (105.92 sq m) 5,648 sq ft (524.68 sq m)
Tenancy Term
12 years from the 24th June 2011 (8 years unexpired) Tenant Lloyds TSB Bank PLC Rent £33,500 pa Rent Review 24th June 2017 A copy of the lease is available upon request.
Tenure The property is held on a freehold basis. Proposal Offers are sought based on £575,000 (exclusive of VAT) for the freehold interest. A purchase at this level reflects a net initial yield of 5.50% (assuming purchase costs of 5.80%). VAT VAT is not payable on the rent, however the sale will be dealt with by way of a transfer of a going concern. Viewing By appointment through sole agents, Gerald Eve LLP. Ed Jones Tel. 0121 616 4803 Mobile 07872 598 631 [email protected] Nick Aylett Tel. 0121 616 4804 Mobile 07827 243 866 [email protected]
Conditions under which these particulars are issued All details in these particulars are given in good faith, but Gerald Eve LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that:1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Gerald Eve LLP have no authority to make or enter into any such offer or contract. 2. All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by Gerald Eve LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means as to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do Gerald Eve LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. The statement does not affect any potential liability under the Property Misdescriptions Act 1991. Particulars issued June 2015
El Sta Sub
12
3
16 17 to
13
60
11
3
4
14
57
55
53
51
T TREE
52
e rtim Mo
rC
our
t
Garth se Hou
The Stables
17
AD S
5
h Churc st s Ne Crow
Bank
1
BRO
ays Archw mbles Bra The
6 to 8
ford Ash s Mew
15
es
Grooms Cottage
The Old Bakery
1
12
13
56
16
5
58
10
5 16
24
8
PH
rewers Cottage
urt d Co Guil er's Palm Cottage rn o tH Pos se h Ho u Coac
l Ange The1 to 34
8
67
69
ST
68 to
5 6
KET MAR
3 1 WALK TINES VALEN
m 99.5
T REE
34
ST GH
Branlea
17
6 49
9
10
LA BRAND
NE
48
47
1
LANE BELL
13
23
5
21
PW 7
97.9m
27
an rt
21a
22
8b
h Coac Little use Ho
5
8
12
LB
8a
46
42
11
2
42a
28
Description Three storey, terraced, period office building, with additional basement area and roof space.
Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale -
LOWE
38
12
15
39
Ho
1 2
9
Boyne
16
1
6
2
6
3
3
4
9
91.7m
Investment • 8 years unexpired to Lloyds TSB Bank PLC • Future redevelopment potential to residential • Prominently located period property, in close 0m 10m 20m 30m proximity to Ludlow Town Centre • Current rent £33,500 per annum • Offers based on £575,000 which reflects a net initial yield of 5.5% (assuming costs of 5.80%) • Superb opportunity to take 8 years of secure income and undertake residential conversion if tenant does not renew (subject to planning). Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250
Location Ludlow is the largest Market town in the South Shropshire district and is 43 miles from Birmingham, 30 miles from Worcester and 24 miles from Hereford. The property is prominently located fronting the Eastern side of Broad Street, approximately 50 metres South of it’s junction with High Street, within walking distance of Ludlow Town Centre.
1:20000
The ground floor comprises the main banking hall, with additional offices and meeting rooms to the rear. The first and second floor in the main comprise additional offices, meeting rooms and rooms currently utilised for archive storage. The first floor also comprises a self contained two bedroom residential apartment which benefits from it’s own access to the side of the property. There is a basement area, with integrated vault / safe which is currently used for additional storage. In addition to this, there is a substantial roof / loft area which benefits from fixed stair access and has been boarded in part. Externally, the property benefits from a landscaped, walled garden area to the rear.
The property lies in an area containing a mixture of commercial, retail and residential properties.
Accommodation Floor areas below are derived from floor plans: Basement Ground floor First floor Second floor ITZA Total NIA
595 sq ft (55.28 sq m) 2,167 sq ft (201.32 sq m) 1,602 sq ft (148.78 sq m) 1,284 sq ft (119.30 sq m) 1,140 sq ft (105.92 sq m) 5,648 sq ft (524.68 sq m)
Tenancy Term
12 years from the 24th June 2011 (8 years unexpired) Tenant Lloyds TSB Bank PLC Rent £33,500 pa Rent Review 24th June 2017 A copy of the lease is available upon request.
Tenure The property is held on a freehold basis. Proposal Offers are sought based on £575,000 (exclusive of VAT) for the freehold interest. A purchase at this level reflects a net initial yield of 5.50% (assuming purchase costs of 5.80%). VAT VAT is not payable on the rent, however the sale will be dealt with by way of a transfer of a going concern. Viewing By appointment through sole agents, Gerald Eve LLP. Ed Jones Tel. 0121 616 4803 Mobile 07872 598 631 [email protected] Nick Aylett Tel. 0121 616 4804 Mobile 07827 243 866 [email protected]
Conditions under which these particulars are issued All details in these particulars are given in good faith, but Gerald Eve LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that:1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Gerald Eve LLP have no authority to make or enter into any such offer or contract. 2. All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by Gerald Eve LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means as to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do Gerald Eve LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. The statement does not affect any potential liability under the Property Misdescriptions Act 1991. Particulars issued June 2015
