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Shopping Arcade investment opportunity

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VIDEO: Kevin Read from Warrington based Read properties visits the fully let Lord Street Arcade at Wrexham which is coming up for auction providing an investment opportunity.

The property, which is coming on the market at the Acuitus Auction on May 24 at the Portman Hotel, London, is situated in a prominent corner location adjacent to the town’s main bus centre, on
the northern side of Lord Street, fronting both King Street and Trinity Street.

Just a short distance from the town centre nearby occupiers include Co-operative Food, JD Wetherspoon, Greggs, Superdrug and McDonald’s.

The property, a shopping arcade arranged over ground and first floor, comprises six retail units and a large bar/restaurant.

The Tenure is a Long Leasehold held from Wrexham Borough Council for a term of 150 years from 1st July 2003 at a fixed peppercorn rent.

It currently generates an income of £118,000 per annum with a Guide Price of only £850,000

Ladbrokes have taken a 10 year lease renewal with no break which illustrates the success of the scheme

The Chinese have extended their lease to 2031 with no breaks

The Bar are taking a new lease at a rent of £30,000pa, which is low for the location for a term of 10 years

All the units are let which illustrates the strength of the pitch

The Wrexham Coffee Company have recently won an award for their coffee.

For more details on the auction contact Kev Read on 01925 213987 or visit 

www.wrexhamhub.co.uk

 

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About Author

Experienced journalist for more than 35 years. Managing Director of magazine publishing group with six in-house titles and on-line daily newspaper for Warrington. Experienced writer, photographer, PR consultant and media expert having written for local, regional and national newspapers. Specialties: PR, media, social networking, photographer, networking, advertising, sales, media crisis management. Patron Tim Parry Johnathan Ball Foundation for Peace. Trustee Warrington Disability Partnership. Former Chairman of Warrington Town FC.

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