Offers Over £72,000

13a

13a High Street, Wem

Details

This terraced freehold property is situated on the High Street in the market town of Wem. Currently the ground floor is used as an estate agent’s office, with three apartments which are occupied by tenants at present. 

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  • Two-storey High St property
  • Ground floor retail area
  • 3 rental apartments
  • Investment property

Council Tax Band:

Contact Local Authority

Local Authority:

Shropshire Council

Services:

Mains water, drainage, electricity and gas

Viewing:

Strictly by appointment with Harfitts

:

The Property

This terraced freehold property is situated on the High Street in the market town of Wem. Currently the ground floor is used as an estate agent’s office, with three apartments which are occupied by tenants at present.

The property is entered though the main shop entrance door which has a front aspect shopfront with display windows.

The North Shropshire town of Wem benefits from a mix of traditional and modern style residential properties, a railway station (Shrewsbury-Crewe line), village hall, primary schools, churches, doctor’s surgery, and a supermarket.  

The Business

The ground floor area is at present rented on a commercial 10-year lease from 01/07/2015 to an estate agency on an internal repairing lease, generating an annual income of around £6000 in rent at the present time, rising to £7000 per annum.

A long internal repairing lease was issued in 1999 for the term of 99 years to a Housing Association for the three flats  at a peppercorn rent. Therefore, while at present there is no income for the freeholder from the flats, the lease also permits a new ground rent to be negotiated in 2024 with the Housing Association. If a new ground rent cannot be agreed, the freeholder of the property will be entitled to receive 28% of the rents which the Housing Association receives from its tenants.

Property insurance is paid as to 75% by the Housing Association and 25% by the ground floor tenant.

The Local Area

The property is located on the High Street in the little market town of Wem. There are excellent doctors, dentists, schools and independent shops within the town, as well as a supermarket and a good selection of pubs and eateries.

The larger towns of Shrewsbury and Whitchurch are only a few miles drive away, and there are rail links directly from Wem Station to Crewe to the north, and Shrewsbury, Birmingham and London to the south.

Business Rates

Please contact Shropshire Council for further information.

Local Authority

Shropshire Council

Services

Mains water, drainage, and electricity

Viewing

Strictly by appointment with Harfitts

Tenure

We understand the property is Freehold, although purchasers are advised to confirm details with their solicitors.

All measurements are approximate and are for identification purposes only.

VALUATIONS

For a free no obligation valuation of your own property please call us on 01939 232775

MORTGAGE ADVICE

We can put you in contact with expert independent financial advisors, please ask for details

SURVEYS

Please ask us for details of local surveyors

Download Particulars:

PDF File
Floorplan

Agent’s Notes

Harfitts for themselves and for the vendors or lessors of this property, whose Agents they are, give notice that:

These particulars are produced in good faith and are set out as a general guide and do not constitute any part of an offer or contract.

No person in the employment of Harfitts has any authority to make or give any representations or warranty whatever in relation to this property.

Harfitts take many precautions to ensure that the sale particulars are drafted accurately and that information is verified by the owners, who have checked these details and declare them true and accurate.

All measurements are approximate and are for identification purposes only.

Electrical and other appliances mentioned in these particulars have not been tested by Harfitts. Therefore prospective purchasers must satisfy themselves as to their working order.

Harfitts is a trading name of Paul F. Harfitt & Co.

If you wish to find out more about any of the services we have to offer please contact us by email or on the telephone number below or you can call into our High Street office and we will be only too pleased to help you with any questions you my have.

The Old Bank
20 High Street
Wem
Shropshire
SY4 5AA

Tel  01939 232775
Fax  01939 236684

Legal Enquiries [email protected]
Property Enquiries [email protected]

Office Hours  09:00 - 17:30 Mon - Fri
                         09:00 - 13:00 Sat (Property Agency only)

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