Features
- Substantial Bank property arranged over two floors, extending to approximately 3,145 sqft (292.25 sqm).
- Occupying prominent town centre location with valuable on-site car parking.
- Total site area of approximately 0.29 acres (0.12 hectares).
- Let to TSB Bank plc by way of a renewal lease for a term of 5 years from 25th March 2023 on a tenant’s FRI basis at a rent of £27,500 per annum exclusive.
- Offers in the region of £325,000 are invited for the freehold interest subject to and with the benefit of the existing tenancy reflecting a Net Initial Yield of 8.16% after Purchaser’s normal costs of 3.57%.
Description
The property comprises a substantial 2 storey bank premises of traditional brick construction, extending to approximately 3,145 sqft (292.45 sqm) with valuable on-site car parking at the rear. The ground floor comprises an extensive banking hall with offices, storage and a strong room being fitted to a modern standard having suspended ceilings with inset lighting and carpeted floor finishes.
The first-floor benefits from internal and independent access at the front providing further private office accommodation with separate storage and staff welfare/toilet facilities. The property has the benefit of 6 on-site car parking spaces to the rear, beyond which is a large enclosed garden offering scope to provide further parking (subject to planning).
The property occupies a prominent position fronting Church Street in the heart of Oswestry Town Centre in a popular trading location close to a number of national and independent traders including M & S Food, Nationwide Building Society, Boots and Greggs.
The property is located opposite a public pay and display short stay car park with the town’s main car park within a short walking distance.
Oswestry is an important North Shropshire market town strategically located on the fringe of the English and Welsh border approx. 18 miles north west of Shrewsbury, 30 miles south of Chester and 28 miles from Newtown via A5 / A483 trunk roads. The town has a large commercial centre and developing industrial base serving a wide catchment area.
