Market Street, Lichfield
£265,000
Property Features
- Freehold Retail Investment producing £17,500 per annum
- Entirely let to St Giles Hospice on a lease expiring November 2028
- Vacant offices above (currently sub let)
- Potential to convert upper floors to residential (subject to planning).
- Grade II Listed
- EPC D
Property Summary
REDUCED IN PRICE
Jayman Commercial offer for sale freehold this mid terraced three storey retail property in the heart of Lichfield City Centre. Market Street is a busy pedestrianized retail area attracting good passing foot traffic.
The property is currently let on a full repairing and insuring lease expiring 24.11.28 at £17,500pa to St Giles Hospice Shops Ltd. This Headlease is subject to an Underlease at £3,500 pa of the currently vacant upper floors to the freeholders DJ and ME Lloyd ,who will therefore require their purchasers to take a legal Assignment of their Underlease in order to release them in providing vacant possession of these 4 offices( for further subletting, if desired) upon completion of the investment sale proposed.
The upper offices are vacant and not used by the tenant so there is an opportunity to either occupy them as offices or convert to residential by surrendering the existing lease. The market value of the offices is estimated to be c£300 per month. The property is Grade II listed. Viewing strictly by prior appointment with Jayman Commercial.
Jayman Commercial offer for sale freehold this mid terraced three storey retail property in the heart of Lichfield City Centre. Market Street is a busy pedestrianized retail area attracting good passing foot traffic.
The property is currently let on a full repairing and insuring lease expiring 24.11.28 at £17,500pa to St Giles Hospice Shops Ltd. This Headlease is subject to an Underlease at £3,500 pa of the currently vacant upper floors to the freeholders DJ and ME Lloyd ,who will therefore require their purchasers to take a legal Assignment of their Underlease in order to release them in providing vacant possession of these 4 offices( for further subletting, if desired) upon completion of the investment sale proposed.
The upper offices are vacant and not used by the tenant so there is an opportunity to either occupy them as offices or convert to residential by surrendering the existing lease. The market value of the offices is estimated to be c£300 per month. The property is Grade II listed. Viewing strictly by prior appointment with Jayman Commercial.
Full Details
Ground Floor Sales
3.6 x 6.5 (11'9" x 21'3")
Ground Floor Sales
3.2 x 4.6 (10'5" x 15'1")
Kitchen & WC
Store Room
2.7 x 1.7 (8'10" x 5'6")
Rear Office
3.9 x 2.4 (12'9" x 7'10")