£500,000

1 St Peters Square

1 St Peters Square, Hereford, HR1 2PG

LOCATION

The Cathedral City of Hereford (population 53,516 in the 2011 census) has developed around a river crossing over the River Wye. A County town of regional importance with a wide rural catchment of 250,000 people. The City lies on the A49 Trunk road linking Leominster 13 miles north and Ross-on-Wye approx. 14 miles south and with Hay-on-Wye A438 some 25 miles west of Hereford and Worcester 25 miles east of Hereford. Hereford City has recently had a £90 Million Old Market retail development anchored by Debenhams department store, Waitrose supermarket with a range of fashion retailers, a multiplex cinema and six restaurants. There is parking for 500 cars in a multi-storey and surface car-parking. No.1 St Peter’s Square is located in the heart of the City, with neighbouring commercial uses, an ironmongers, a dentist, a building society, Tanners Wines, Cobbler and key cutting, Coral betting and St. Peter’s Church on the edge of St. Peter’s Street which connects to High Town. The Town Hall & Shire Hall, two civic buildings of architectural merit nearby.

 

DESCRIPTION

The property is a mid-terraced property with stone faced frontage with two timber sash casement windows to ground floor and a period entrance door. At first floor there are two timber casement doors recessed making them capable of folding inwards. At second floor there are two sash windows. The Joint owners have been receiving investment income from the property, but now are wanting an outright sale of the property. The income from the 15 car-parking spaces amounts to £11,250, and the last tenant was paying the rental £28,000 per annum, for the basement, ground, first and second floors, which means the total income has been £40,000 per annum. NB: There is a flying freehold passageway which allows pedestrian access from St. Peter’s Square to East Street.

 

CONSTRUCTION

The walls are part rendered solid brick with a pitched and hipped roof with slate and copper roof. Floors linoleum covered concrete within the basement and suspended timber floors. The internal specification of the basement includes painted and plastered walls and ceilings, lino covered flooring, a mixture of bulkhead and fluorescent lights, plus air handling ducts and an air tight foul water inspection chamber within the floor. Electric immersion heating and hot water.

The ground and first floor of the former hair salon, are painted and plastered walls and ceilings, timber flooring, down lighting and part air conditioned. The second floor (offices) and part residential consist of painted and plastered walls and ceilings, night storage heaters, mixture of spot lighting and pendant lighting, basic WC/shower room with carpeted suspended timber floors.

 

LAYOUT

Basement – utility room, store, kitchen/staff room and WC’s.

Ground Floor – main salon with frontage to St. Peter’s Square and rear fire escape doors onto car-parking at the rear. Pair of glazed fire doors providing natural light into the rear of the salon. There is a kitchen and staff WC.

First Floor – open plan hair salon with stud partitioned office and two therapy rooms.

Second Floor – Three offices, a kitchenette and a WC.

External Car-park up to 15 car-parking spaces and a dilapidated brick drive through store with redevelopment potential.

 

ACCOMMODATION

RETAIL SHOP WIDTH            4.83m

RETAIL SHOP DEPTH 13.27m

RETAIL AREA (ITZA)                                                 69.7 sq.m  (750 sq.ft)

BASEMENT     (Utility Room, Kitchen & Store)                       22.1 sq.m (237 sq.ft)

RETAIL (Sales & Kitchen)                                           47.3 sq.m (510 sq.ft)

FIRST FLOOR (Sales & Studio)                                    56.4 sq.m (607 sq.ft)

SECOND FLOOR (Ancillary Offices)                            31.9 sq.m (343 sq.ft)

TOTALS                                                                      227.4 sq.m (2,447 sq.ft)

 

SITE AREA

From an Ordnance Survey based plan, we estimate that the total site area amounts to approximately 407 sq.m (4382 sq.ft).

 

SERVICES

We understand that the following services are connected to the property: Mains water & drainage, electricity, gas and and air conditioning unit. The property is provided with a gas supply feeding the utility room for the dryer and washing machine with space heating and hot water supply via electric water heaters and nigh storage heaters.

 

BUSINESS RATES

Gnd & Bst 1 St Peter’s Square  80 sq.m     RV£11,250

Front Part First Floor                40.4 sq.m  RV £4,400

Pt 1st Floor 1 St.Peter’s Square  21.1 sq.m  RV £2,300

2nd Floor, 1 St. Peter’s Square    89.6 sq.m  RV £6,200

 

PLANNING

The property is Grade II Listed, and lies within a Conservation Area so the building is of architectural interest. Historic England website states: Shop and dwelling, now hairdresser's. Early C18. Painted brick; lead roof; brick lateral stack. 3 storeys and cellar; 2-window range: C19 cross windows under flat arches, in shallow round-headed recesses under segmental arches; 4/8 sashes under flat arches; moulded stone coping to leaded parapet. To left, C19, 6 fielded-panel door and plain over -light under semi circular arch; two plain round-headed sashes; to right, recessed C20 entrance (to Putta's Close); rusticated stucco; modillioned stone cornice. INTERIOR: early C19 staircase with stick balusters and moulded rail; stairwell window with Gothic glazed head. 1st floor: 4-panel doors; architraves to doors and windows. 

 

USE CLASS

The property is currently being used as a hair dressers with ancillary offices (within Use Class A1 of the current Use Classes Order).

 

DEVELOPMENT POTENTIAL

Within the rear car-parking area is a single storey store, which having had an architect review the site says there is scope to extend the shop and provide a greater floor area to the ground floor and potentially demolish and rebuild some residential accommodation subject to carrying out a massing exercise. More information available from the Agents.

 

GUIDE PRICE

£500,000 (five hundred thousand pounds).

 

LEGAL COSTS

Each party will be responsible for their own legal costs.

 

VAT

The property is not VAT registered.

VIEWINGS

Viewings are strictly by appointment through local agents Arkwright Owens, telephone  (01432) 267213 or Julian Owens 07855 744821 or email: arkwrightowens@btinternet.com

 

AGENTS NOTE

These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair and overall description of the property and do not constitute the whole or any part of an offer or contract. Any information contained herein (whether in text, plans or photographs), is given in good faith but should not be relied upon as being a statement or representation of fact. Nothing in these particulars shall be deemed to be a statement or representation of fact. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor than any services or facilities are in good working order. Any moveable contents, fixtures and fittings (whether wired or not) referred to in these property particulars (including any shown in the photographs) are, unless the particulars say otherwise, excluded from the sale. In the event that the buyer proposes to purchase any moveable contents or include them in any offer for the property, the buyer cannot in any respect imply such inclusions from the property particulars. Any areas, measurements or distances referred to herein are approximate only and may be subject to amendment. It should not be assumed that the property has all necessary planning, building regulations or other consents and these matters must be verified by an intending purchaser. The information given in these particulars is given without responsibility on the part of the agents or their clients and neither the agents nor their employees have any authority to make or give any representations or warranties whatever in relation to this property. Arkwright Owens has not tested apparatus, equipment, fittings, or services and so cannot verify that they are in working order. The buyer is advised to obtain verification from their solicitor or surveyor. The photograph may have been taken with the use of a wide-angle or zoom lens. All room sizes are approximate and if measured into a recess then this is indicated. The property is sold in the aforegoing particulars. Any item not mentioned herein is specifically excluded.31/08/2018JTJO

Call 01432 267213 for further information or to book a viewing.

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