£475,000
Property for saleDunbar House, Knights Court, Shrewsbury SY1
Just added
Freehold
About this property
Prominently located commercial investment showing a Net Initial Yield of 7.97% after allowing for normal purchasers’ costs
Total Gross Internal Area of approximately 7,816 sq ft (726.13 m sq)
Future Asset managament potential
Annual Rental Income of £39,500 (Thirty Nine Thousand Five Hundred Pounds) Per Annum
Forming Part of an established commercial quarter in Shrewsbury
The property comprises of the main property structure is of steel portal frame construction clad with brickwork to the elevations, sitting a cement fibre/asbestos roof cover.
The attached property comprises of the main property structure is of steel portal frame construction clad with brickwork to the elevations, sitting a cement fibre/asbestos roof cover. The property benefits from a single-story projection to the front elevation, which is constructed of brickwork sitting under a metal sheet cladding.
The property provides a Total Gross Internal Area of approximately 7,816 sq ft (726.13 m sq) with an eaves height of approximately 3 metres, and two up and over doors. The property is arranged to provide a warehouse, with offices, anciliary and welfare facitlties.
Externally, the property benefits from a secure gated yard area with designated onsite parking, with a Total Site area of 0.486 acres (0.197 hectares), which is accessed from Lancaster Road.
The property forms part of Grange Business Park and occupies a prominent location fronting onto Lancaster Road. The property is situated on the South East side of Lancaster Road, which is accessed from Harlescott Lane.
Grange Business Park is an established commercial quarter located approximately 2 miles from the town centre of Shrewsbury, and 1 mile from the A5 Shrewsbury Bypass. The property is located within proximity of all local amenities with surrounding occupiers including Switch Thrifty, Spel and Boys and Boden.
Shrewsbury is the County Town of Shropshire and has a significant catchment population as well as acting as an administrative and tourist centre. The town is sat on the River Severn and had a population of 76,782 at the 2021 census. The town is located approximately 48 miles west of the City of Birmingham and approximately 40 miles south of the City of Chester. There is access to the national road network via the A5 (M54 link road).
All measurements are approximate
Total Gross Internal Area 7,816 sq ft (726.13 m sq)
Large external yard
Tenure
The site is offered for sale freehold subject to the occupational tenancy:
Term6 year lease from 1st April 2023
Rent £39,500
Repairing Obligations Full Repairing and Insuring Terms
Landlord and Tenanct Act Lease is inside the Landlord and Tenanct Act 1954 Part 2.
A copy of the lease is avaliable upon request by the agent.
The property is held under the ownership of part of Title Number SL834365.
Planning
Prospective Purchasers should rely on their own enquiries.
The property is understood benefit from planning consent for use class E or B8 under the Town and Country Use Classes Order 1987.
The site offers asset management potential and future potential development.
Price
Offers in excess of £475,000 (Four Hundred and Seventy-Five Thousand Pounds) (Exclusive) showing a Net Initial Yield after normal purchasers’ costs of 7.97%.
Services
(Not tested at the time of inspection)
All mains services are understood to be connected to the unit, including three phase electricity.
Vat
The property is understood to be elected for VAT. However, it is proposed that the sale of the property proceeds as a togc (Transfer of a Going Concern), further details are available from the selling agents.
Viewings
All viewings are to be arranged strictly via the selling agent.
Legal Costs
Each party is to bear their own legal costs in relation to the transaction.
Local Authority
Shropshire Council, Guildhall, Frankwell Quay, Shrewsbury, SY3 8HQ
The attached property comprises of the main property structure is of steel portal frame construction clad with brickwork to the elevations, sitting a cement fibre/asbestos roof cover. The property benefits from a single-story projection to the front elevation, which is constructed of brickwork sitting under a metal sheet cladding.
The property provides a Total Gross Internal Area of approximately 7,816 sq ft (726.13 m sq) with an eaves height of approximately 3 metres, and two up and over doors. The property is arranged to provide a warehouse, with offices, anciliary and welfare facitlties.
Externally, the property benefits from a secure gated yard area with designated onsite parking, with a Total Site area of 0.486 acres (0.197 hectares), which is accessed from Lancaster Road.
The property forms part of Grange Business Park and occupies a prominent location fronting onto Lancaster Road. The property is situated on the South East side of Lancaster Road, which is accessed from Harlescott Lane.
Grange Business Park is an established commercial quarter located approximately 2 miles from the town centre of Shrewsbury, and 1 mile from the A5 Shrewsbury Bypass. The property is located within proximity of all local amenities with surrounding occupiers including Switch Thrifty, Spel and Boys and Boden.
Shrewsbury is the County Town of Shropshire and has a significant catchment population as well as acting as an administrative and tourist centre. The town is sat on the River Severn and had a population of 76,782 at the 2021 census. The town is located approximately 48 miles west of the City of Birmingham and approximately 40 miles south of the City of Chester. There is access to the national road network via the A5 (M54 link road).
All measurements are approximate
Total Gross Internal Area 7,816 sq ft (726.13 m sq)
Large external yard
Tenure
The site is offered for sale freehold subject to the occupational tenancy:
Term6 year lease from 1st April 2023
Rent £39,500
Repairing Obligations Full Repairing and Insuring Terms
Landlord and Tenanct Act Lease is inside the Landlord and Tenanct Act 1954 Part 2.
A copy of the lease is avaliable upon request by the agent.
The property is held under the ownership of part of Title Number SL834365.
Planning
Prospective Purchasers should rely on their own enquiries.
The property is understood benefit from planning consent for use class E or B8 under the Town and Country Use Classes Order 1987.
The site offers asset management potential and future potential development.
Price
Offers in excess of £475,000 (Four Hundred and Seventy-Five Thousand Pounds) (Exclusive) showing a Net Initial Yield after normal purchasers’ costs of 7.97%.
Services
(Not tested at the time of inspection)
All mains services are understood to be connected to the unit, including three phase electricity.
Vat
The property is understood to be elected for VAT. However, it is proposed that the sale of the property proceeds as a togc (Transfer of a Going Concern), further details are available from the selling agents.
Viewings
All viewings are to be arranged strictly via the selling agent.
Legal Costs
Each party is to bear their own legal costs in relation to the transaction.
Local Authority
Shropshire Council, Guildhall, Frankwell Quay, Shrewsbury, SY3 8HQ
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Monthly repayment
£2,376 per month
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