31-32 Market Centre, Crewe, Cheshire, CW1 2NG

Description

The property comprises a ground floor commercial property, and extends to 1,728 sq. ft. (160.59 sq m) The property trades as a pharmacy and is situated in a prominent position at the pedestrian access route to the main shopping centre.

Location

The property occupies a prominent position opposite the Market shopping centre main car park in central 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. Market Centre is the prime scheme in the town centre and adjoins a 170 space car park. It is the hub of the local community, where almost 100,000 people visit every week - to meet friends and family, to eat, drink, work and for leisure. 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.

Tenure

Freehold, subject to the existing tenancy.

Tenancy

The property is let in its entirety to Let to Clear Pharmacy (Crewe) Ltd for a term of 15 years, from 15/05/2026, expiring 14/05/2041 . The passing rent is £17,000 per annum. There are five yearly rent reviews and break clauses. The tenant has been in occupation for over ten years.

Founded in 2005, Clear Pharmacy now comprises 35 branches across the UK. They offer a range of NHS pharmacy services including the Minor Ailments Scheme, Smoking Cessation Programme and Medicine Use Reviews.

Price

Offers based on £207,500 are invited for the Freehold interest, reflecting a net initial yield of 8%, after usual purchasers costs.

Business Rates

Rateable Value - £37,000

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 its is anticipated that the sale will be treated as a TOGC.

EPC

Available upon request.

Legal Costs

Each party is to be responsible for their own legal costs that may be incurred in this transaction.

Anti Money Laundering

Under HMRC and RICS regulations in addition to the Criminal Finances Act 2017, as property agents facilitating transactions, we are obliged to undertake anti money laundering due diligence for both the vendors (our client) and the purchasers involved in a
transaction. As such, personal and or detailed financial and corporate information will be required before an offer can be accepted and a transaction can commence.