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Bistro Jacques, 77/77a, Mardol, Shrewsbury

Investments Commercial for sale

£540,000 Price guide

Freehold

A prominent restaurant investment opportunity located in the heart of Shrewsbury town centre.

The premises which are Grade II Listed are located in a prime position close to Moss Bross, o2, Caffe Nero, Joules Clothing, Milletts, Blacks Outdoors and Lloyds and Natwest Banks.

They are occupied by Kingston Developments Ltd trading as Bistro Jacques and hold the premises under a 20 year lease from June 2011 at a passing rental of £35,000.

  • PRIME RETAIL INVESTMENT FOR SALE
  • NOT ELECTED FOR VAT
  • PROMINENT POSITION IN A BUSY COUNTY TOWN
  • PASSING RENT £35,000 PA
  • EPC – D (94)

Property Brochure PDF Location Map

Location

Shrewsbury is the County Town and administrative centre of Shropshire and also a popular tourist destination, strategically located at the intersection of the main A49 and A5 trunk roads approximately 47 miles northwest of Birmingham, 15 miles west of Telford and 40 miles south of Chester. The town and surrounding catchment area has a population of approximately 72,000 people.

Situation

The property is located in a prominent position fronting Mardol Head which is situated at the top of the street. Mardol Head includes a pedestrianised area which the subject property fronts and benefits from as it includes an external seating area used in conjunction with the restaurant use.
Nearby occupiers include Moss Bros, O2, Caffe Nero, Lloyds Bank, Joules Clothing, French Connection, Milletts, Nat West, Blacks Outdoors together with a number of local independent retaillers.
The area is characterised by historic buildings and has very much a market town ambience.

Description

The ground floor is given over to restaurant and bar area with servery behind, whereas the first floor includes additional seating with kitchen, office and WCs. The second floor is currently sealed off and can only be accessed via a hatch/ladder (not inspected). The building includes a cellar which is accessed internally via a trap door. It has a restricted head height and is basic but dry. The current tenants have occupied since 2011 and undertook substantial fit-out works including a replacement shop-front, new feature staircase, removal of internal walls (particularly upstairs), relocation of WCs and the creation of a commercial kitchen.

Schedule Of Accommodation

Areas taken from plans prepared prior to the current tenants fit-out. An internal inspection is recommended
Ground Floor – 147.9 sq.m (1592 sq.ft)
First Floor 101.8 sq.m (1096 sq.ft)
Cellar 23.6 sq.m(254 sq.ft) – (usuable)
Ground Floor Area ITZA – 95.4 sq.m (1027 sq.ft)

Lease Terms

The premises are held under a 20 year lease from 13/06/2011 with provision for rent reviews every five years. The 2016 rent review has yet to be implemented. The lease is proportional full repairing and insuring and subject to a schedule of condition, however the tenant undertook substantial conversion works at the commencement of the lease which included the creation of kitchen space and conversion of the first floor storage rooms to create open plan restaurant seating. The passing rental is £35,000 per annum exclusive.

Tenure

Freehold

Proposal

Our clients are seeking expressions of interest off a guide price of £540,000.

Business Rates

We refer you to the government website https://www.tax.service.gov.uk/view-my-valuation/search which shows that the current rateable value is £24,750.

Local Authority

Shropshire Council, The Shirehall, Abbey Foregate, Shrewsbury, SY2 6ND
Tel: 0345 678 9000

Energy Performance Certificate

The Energy Performance Rating for this property is within Band D (94).

Value Added Tax

The property is not VAT elected.

Contact Information

For further information or an appointment to view please contact either:-
Mike Nightingale on 01872 247008 or via email msn@miller-commercial.co.uk or
Thomas Hewitt on 01872 247025 or via email th@miller-commercial.co.uk or
Joint Agents Towler Shaw Roberts FAO Toby Shaw 01743 243900 or Toby.Shaw@tsrsurveyors.co.uk

PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.

Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.

VIEWING: Strictly by prior appointment through Miller Commercial.

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Mike Nightingale Partner View Profile

Contact us about this property

Call: 01872 247008
Email: msn@miller-commercial.co.uk

Property Brochure PDF