Beacon, Telford
Beacon, Telford
Of interest to Investors, Developers and owner occupiers.
LOT 60 For Auction: Wednesday 14th December 2022 – 9:00am
A Freehold Public House arranged over Basement, Ground and 2 upper floors. The property is currently trading as The Beacon and a new 15 year lease can be agreed on a sale and lease back arrangement on £40,000 p.a. or alternatively vacant possession can be provided on one months notice.
Key Features:
- A sale and leaseback can be offered on £40,000 p.a. on a new 15 year lease.
- Alternative vacant possession can be granted on one months notice
- An approx. total 756.74 sqm (8,144 sq ft)
- Separate entrance at the front to the upper floors of the property
- Further development potential to self contain the upper parts and convert into residential use ( subject to the requisite consents)
- Instant asset management potential in its current use or alternative uses (subject to the requisite consents)
- An approx. 0.1 mile to Wellington Station
- 6 week completion
- VAT Free Investment
Description:
The property is arranged as ground and two upper floors (with basement cellar) and is part two storey and three storey. There is rear access to the property via an alley way which single storey elements on the building.
The property is a mid terrace building forming part of an established shopping parade located an approx. 0.1 miles from Wellington Station to the north of the property. The property is also located beside the entrance for the pedestrianised town centre.
Nearby occupiers include Cooperative Funeral care, Wellington Market Centre, Wilko, WHSmith local/Post Office as well as a wide range of local and independent retailers.
Additional information
Tenure: Freehold
Accommodation: Please note that the approximate areas have been supplied by the client and believed to comprise of the following. The property has not been inspected by Savills.
Basement – Cellar (Height Restricted)
Ground Floor – Bar, Pool Area, Kitchen and Storage
First Floor – Customer WC, Office, Kitchen, Bathroom and 3 Rooms
Second Floor – 9 Rooms, Kitchen, Shower Room and former WC
Basement an approx. 64.15 sqm (690 sq ft)
Ground Floor an approx. 390.86 sqm (4,207 sq ft)
First Floor an approx. 171.96 sqm (1,850 sq ft)
Second Floor an approx. 129.77 sqm (1,396 sq ft)
Total an approx. 756.74 sqm (8,144 sqft)
Tenancy: Option to purchase with a lease through a sale and leaseback arrangement to the existing occupiers or alternatively the property can be provided with vacant possession on one months notice.
Proposed Lease:
- To be let to The Beacon Pub Ltd
- 15 Year lease within the LTA 1954
- 5 Yearly rent reviews
- To be let on £40,000 p.a.
EPC: The EPC rating for this property is F
Joint Auctioneer
Nicholson Boyd, Savills
T: +44 (0)20 7824 9091
E: auctions@savills.com
Please note the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.
Local Information:
Telford is the largest town in Shropshire and is about 15 miles east of Shrewsbury.
The property is located on the western side of Church street and can be found between the junctions of Station Road and Market Street.
Wellington Station is located an approx. 0.1 miles from the property