Lot 10 4-6 High Street, Chasetown, Burntwood, WS7 3XF

Property Enquiries

Mat Harris

mat.harris@bidx1.com
07732681152
07732681152

Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
+44 (0) 7732 681 156

Viewing/ Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Ruth Boulton

rlb@debenhamsottaway.co.uk
01923 289 917
Description
Map
Viewings

Property Summary
  • Convenience store and residential investment
  • Very busy local area with densely populated residential and student accommodation
  • 1,981 sq ft ground floor supermarket and separate 3 bedroom flat above
  • Let to One Stop Stores Limited (D&B 5A1 – Turnover £1.14bn)
  • 15 years with effect from 14 July 2008, expiring 13 July 2023 (3 years unexpired)
  • Current rent of £25,000 per annum (£12.61 psf)
  • 3 bedroom flat let on an AST for £6,300 per annum (£525 pcm)
  • Total income £31,300 per annum
Tenure

Freehold

Location

Chasetown is a village in the town of Burntwood in Staffordshire, England. It is split between the civil parishes of Burntwood and Hammerwich.

Burntwood is a suburban town of the Lichfield District in Staffordshire, England, approximately 15 miles north of Birmingham, 2 miles north of Brownhills, 5 miles west of Lichfield and 5 miles east of Cannock.

The town had a population of 43,623 at the time of the 2020 census and is well served with excellent communications lying 500 metres north of the M6 Toll motorway (junction T6) and its junction with the A5.

Description

The property is situated on the east side of High Street, close to the junction of Queen Street in the town centre. There is a public car par to the rear.

Accommodation

The property comprises a traditional brick construction retail unit beneath a pitched tiled roof. The shop is arranged on ground floor and provides 1,981 sq ft (GIA). The ground floor benefits from customer entrances from both High Street and the public car park at the rear. 

The first floor comprises a self-contained three bedroom flat.

Tenancy

The ground floor is let to One Stop Stores Limited on an FRI lease for a term of 15 years with effect from 14 July 2008, expiring 13 July 2023 (3 years unexpired). The current rent of £25,000 per annum (£12.61 psf) is not subject to further review.
The property is 2 miles from One Stops UK HQ in Brownhills.
The separately accessed upper floor 3 bedroom flat is let on an AST for £6,300 per annum (£525 pcm).

VAT
Please refer to Legal Documents
Property Table

One Stop Stores Limited (Company Number: 02462858) is one of the country’s leading convenience retail brands and is a wholly owned subsidiary of Tesco PLC.
They trade from 850 stores around the country employing over 10,000 staff.
A summary of One Stop Stores Limited recent accounts is set out below:

One Stop Stores Limited23 Feb 201924 Feb 201825 Feb 2017
Turnover£1,142,894,000£1,068,992,000£1,011,260,000
Pre-Tax Profit£28,834,000£20,141,00£18,815,000
Shareholder Funds£257,456,000£244,177,000£232,766,000

 


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  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
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