10-11 Market Centre, Crewe, Cheshire, CW1 2HU

Freehold Retail Investment Opportunity

Property details

Type Investment
Tenure Freehold, subject to the existing tenancy.
Price Offers based on £750,000
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Features
  • Prime investment opportunity in Market Town Centre
  • 7,786 sq. ft. (723.60 sq m) over ground and first floors
  • Let to Bank of Scotland (t/a Halifax) until 01/09/2026
  • Passing rent - £67,000 per annum
  • Freehold - offers based on £750,000, equating to a NIY of 8.48%
Description

The property comprises a large imposing double fronted two storey commercial property, which extends to a total of 7,786 sq. ft. (723.60 sq m) over ground and first floors. The property is fitted out to the tenants usual corporate branding.

The first floor comprises offices, plant room, storage, and staff areas.

Location
The property occupies a central location in Crewe, which is an affluent market town situated in the District of Crewe and Nantwich, and the County of Cheshire. The property is located on Victoria Street fronting Market Centre , which is situated within the core retail area of Crewe Town Centre, at the junction of the prime pedestrianised retail thorough fares of Victoria Street and Market Street. Nearby occupiers include Superdrug, River Island, Lloyds Bank & Iceland Foods. Crewe lies 24 miles south-east of Chester and 36 miles south-west of Manchester and is one of the largest train stations in the Northwest and a major interchange station on the West Coast main line. Crewe has been proposed as the site of a transport hub for the new HS2 line. Crewe town centre is home to several large employers, including AstraZeneca, Bentleys Motors, Barclays Bank and Network Rail. There are also several business parks around town which host light industry and offices.
Accommodation
Ground Floor -
7, 055 sq. ft. (376.85 sq m)

First Floor -
3,731 sq. ft. (346.74 sq m)

Total -
7,786 sq. ft. (723.59 sq m)
Tenure
Freehold, subject to the existing tenancy.
Tenancy
The property is let in its entirety to Bank Of Scotland ( trading as Halifax) on 5 year full repairing and insuring lease from 2/9/21, expiring 1/3/2026, at a passing rent of £67,000 per annum.

TENANTS PROFILE
Bank of Scotland Plc is a wholly owned subsidiary of Lloyds Banking Group Plc which operates under Halifax, Lloyds Bank and Bank of Scotland. Lloyds Banking Group is the UK’s largest digital bank and financial services group.
Price
Offers based on £750,000 plus VAT, equating to a net initial yield of 8.48%.
Service Charge
There is a variable service charge recharged to the occupational tenant, to cover the provision of communal services and maintenance. A copy of the latest service charge budget is available upon request.
VAT
We are advised that VAT is applicable to the purchase price, although it is anticipated that the sale will be dealt with by way of a TOGC.
EPC
Rated C - Available upon request.
Legal Costs
Each party is to bear their own legal costs in relation to this matter.
Anti Money Laundering
In accordance with mandatory anti-money laundering regulations, two sources of identity and a form of proof funds will be required from the successful purchaser.