Property description
A Prime retail investment property let to Edinburgh Woolen Mill, a blue chip company. The annual income is £50,000 and there are circa 7 years remaining on the lease. Contact Arkwright Owens for more details....
LOCATION
Hereford is a small cathedral city located in Herefordshire, a rural county in the West Midlands. The city has a population of circa 56,000 people and 178,000 in the county as a whole. Hereford is located 48 miles from Birmingham; 25 miles of Worcester; Local Roads include: A49, A465, A438, M50; No. 5 St. Peter’s Street is located in the prime shopping area of Hereford at the juncture of St. Peter’s Street, in the newly refurbished and paved High Town area, next to The Old House Museum & Art Gallery, and the main Post Office.
POSITION
The Tenant is The Edinburgh Woollen Mill and it is situated in St. Peter’s Street in a pedestrianised area. Within High Town nearby: Marks & Spencer, New Look, Boots, W H Smith, HMV, Dorothy Perkins, Phase Eight, Laura Ashley, Starbucks and branches of the main banks and building societies.
DESCRIPTION
A Grade II Listed Georgian fronted brick building over four floors with sash windows and an elegant panelled front door with decorative fan light and portico porch. The Shop arranged on the ground, basement, first, second and attic floors.
ACCOMMODATION
Shop Frontage 29’6” (9m)
Shop Width 37’ narrowing (11.2m)
Shop Depth 62’ (18.9m)
Sales 1,726 sq.ft (160 sq.m)
First Floor Stores 735 sq.ft (68.3 sq.ft)
Second Floor unknown
Floor
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Accommodation
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Net Internal Areas
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Ground
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Sales/Ancillary
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149.56 sq.m (1,610 sq.ft)
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Basement
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Storage (Disused)
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40.87 sq.m (440 sq.ft)
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First
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Ancillary
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64.56 sq.m (695 sq.ft)
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Second
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Ancillary
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64.56 sq.m (695 sq.ft)
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Total Commercial Area
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319.57 sq.m (3,440 sq.ft)
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LEASE TERMS
Unexpired Term: Circa 7 years.
Term of Lease: 25 years from 22nd May 1995
Repair Basis: Full Repairing and Insuring.
Rent: £50,000 per annum
Rent Review: 2015
Lease Expiry: May 2020
GUIDE PRICE
£525,000, Subject to Contract
VAT
VAT is not applicable to this property.
ENERGY PERFORMANCE CERTIFICATE
Band C – More details available from the Joint Selling Agents.
COMPANY WEBSITE & ONE-STOP REPORT
TENANT
The Edinburgh Woollen Mill Limited (1)
(1) Edinburgh Woollen Mill trade from about 255 High Street stores, together with a further 115 tourist destination stores throughout the UK. Edinburgh Woollen Mill Ltd for the year ending 02/11 reported pre-tax profit of £21.2 million and a net worth of £152 million.
PLANNING
The property known as 5 St. Peter’s Street is Grade 2 Listed.
BUSINESS RATES
The description is: Shop & Premises and the adopted Rateable Value is £51,500. The rates payable for 2013/14 is currently £23,785.50. BA Reference: 80004070005003.
JOINT SELLLING AGENTS
Arkwright Owens Chartered Surveyors are acting as a Joint Sole Agents in conjunction with Mr Clive Thomas FRICS of Clive Thomas & Co. Chartered Surveyors, 8 Walmer Courtyard, Holland Park, W11 4EY.
VIEWING
Viewings are strictly by appointment through Arkwright Owens, acting as the local agents: Telephone: Office (01432) 267213 or Julian Owens (07855) 744821.
AGENTS NOTE
Arkwright Owens has not tested apparatus, equipment, fittings, or services and so cannot verify that they are in working order. The buyer is advised to obtain verification from their solicitor or surveyor. The photograph may have been taken with the use of a wide-angle or zoom lens. All room sizes are approximate and if measured into a recess then this is indicated. The property is sold in the aforegoing particulars. Any item not mentioned herein is specifically excluded. 18 May 2013.
Image of misc
Image of house front
Property Features :
- Not Residential
- 0 bedrooms