Property photos
£165,000
Retail premises for sale
Cannock Shopping Centre, Cannock WS111,287 sq. ft
Local area information
Property location
Nearby amenities
- Sherbrook Primary School (SEN) 0.3 miles
- Chase Grammar School International Study Centre 0.4 miles
- Cannock 0.4 miles
- Hednesford 1.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Cannock to find out more about the local area.
Features and description
Summary
Town centre high street retail unit
Located at the entrance to the Cannock Shopping Centre
Let to EE Limited
Highly secure income
Tenant has been in occupation for over 18 years and did not exercise their January 2025 break option, demonstrating their commitment to this location
Rebased rent
£165,000, subject to contract
11.0% Net Initial Yield
Location
Cannock is located in the county of Staffordshire, approximately 39 km (24 miles) north of Birmingham, 19 km (12 miles) north of Walsall and 14 km (9 miles) south of Stafford.
The town benefits from good road communications with Junction 7 of the M6 Toll being located approximately 1.6 km (1 mile) to the south and Junction 12 of the M6 Motorway approximately 5 km (3 miles) to the west. The town is also served by the A34 (north-south) and A5 (east-west).
The town is connected to the national railway network with a fastest journey time of 2 hours 30 minutes to London Euston and 38 minutes to Birmingham New Street. Birmingham Airport is approximately (28 miles) to the south-east.
Situation
The property is prominently located at the entrance to the Cannock Shopping Centre.
Cannock Shopping Centre is the town’s primary covered shopping area. With over 35 places to shop, eat and drink, occupiers in the centre include New Look, Specsavers, jd Sports, EE, Costa Coffee, Holland & Barrett, Bodycare and Poundstretcher.
In addition, Cannock Market Hall is a thriving indoor market located within the shopping centre, housing services ranging from jewellery, clothing and craft supplies to watch repairs, nail technicians, food & drink and more.
The town’s main bus station is immediately adjacent to the Centre.
The shopping centre is located directly opposite the site of a significant regeneration scheme, set to transform the town centre. Cannock Chase Council has secured £20 million from the Government’s Levelling Up fund towards the project. The transformation is set to include refurbishment of the Prince of Wales Theatre, business workspace and a new “northern gateway” into Cannock. In addition, the Centre will benefit from a new pedestrianised crossing linking it directly to a to-be refurbished Beecroft Road Car Park, Cannock’s principal town centre car park. Outline planning permission has been granted and the Council is set to begin the delivery of phase one of the scheme. For further information see here.
Description
The property comprises a retail unit arranged over ground and first floor.
The ground floor area is for sales with the first floor providing ancillary/staff accommodation.
The property benefits from a rear service area, accessed via Stafford Road.
Accommodation
The property has been measured by bkr Floor Plans and provides the following net internal floor areas:
Unit 24 (EE)
Net Frontage 6.02 m 19’9”
Gross Frontage 6.48 m 21’3”
Zone A 34.47 sq m 371 sq ft
Zone B 33.07 sq m 356 sq ft
Zone C 6.69 sq m 72 sq ft
itza 567
Ground Floor Total 74.23 sq m 799 sq ft
First Floor 45.34 sq m 488 sq ft
Total 119.56 sq m 1,287 sq ft
A set of floor plans is available to download and the measured survey report will be re-addressed to a purchaser at a cost of £288.33 + VAT.
Rateable Value
According to the Valuation Office website the rateable value for the property is as follows:
Unit 24 £23,050
The business rates multiplier is 49.9 pence. The seller has appealed the valuations and expects tenants to benefit from lower rates going forward.
Tenure
Long leasehold interest until 22 July 2146 at a peppercorn rent (approximately 122 years remaining).
Tenancy
Unit 24 is let to EE Limited on a full repairing and insuring lease from 9th January 2023, expiring 8th January 2028. The tenant did not exercise their break option on 9th January 2025, demonstrating their commitment to the unit. There is a further tenant break option on 9th January 2027, subject to 6 months’ prior notice.
In the event of a government enforced lockdown as a result of a health emergency event, the rent payable will be reduced by 50% during this period.
The tenant has been in occupation since 2006 and renewed their lease in 2023, demonstrating their commitment to this location. The rent was rebased from £48,000 pa. The tenant has been in occupation for over 18 years.
The current passing rent is £18,500 per annum. The tenant currently has a 2-month rent free period ending on 8th March 2025 which will be topped up by the seller. There is an additional 1-month rent free period from 9th January 2027 if the tenant does not exercise their break.
Service Charge
The service charge for 2024-2025 for Unit 24 is £7,947.30. Please note that the service charge is fully paid for by the tenant. Please refer to the service charge information in the data room.
Covenant
EE Limited (Co. No. 02382161) has reported the following figures (in thousands):
Year Ending 31st March 2024 31st March 2023
Revenue £7,169,000 £6,913,000
Pre-Tax Profits £1,405,000 £1,771,000
Net Assets £8,614,000 £8,570,000
VAT
The property has been opted for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (togc).
Market Evidence
The adjoining property at 27-29 Market Hall Street was sold by Singer Vielle in October 2024. The property is let at £60,000 per annum and was sold for £602,500 reflecting a net initial yield of 9.48%.
Proposal
We are instructed to seek a figure of £165,000 (One Hundred and Sixty-Five Thousand Pounds), subject to contract, reflecting a net initial yield of 11.0%, assuming purchasers’ costs of 1.98%.
Please note that a purchaser will be re-charged the costs of the measured survey (£288.33+ VAT) and searches (£115.49+VAT) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT.
Investment Considerations
An opportunity to acquire a high yielding retail investment;
The property occupies a prime retailing pitch, forming the entrance to the Cannock Shopping Centre;
Highly secure income – let to EE Limited;
Tenant has been in occupation for over 18 years and did not exercise their January 2025 break option, demonstrating their commitment to this location;
Rebased rent;
Attractive net initial yield;
Attractive lot size to an investor.
For full details please visit our website
* Sizes listed are approximations. Please contact the agent to verify actual sizes.
Town centre high street retail unit
Located at the entrance to the Cannock Shopping Centre
Let to EE Limited
Highly secure income
Tenant has been in occupation for over 18 years and did not exercise their January 2025 break option, demonstrating their commitment to this location
Rebased rent
£165,000, subject to contract
11.0% Net Initial Yield
Location
Cannock is located in the county of Staffordshire, approximately 39 km (24 miles) north of Birmingham, 19 km (12 miles) north of Walsall and 14 km (9 miles) south of Stafford.
The town benefits from good road communications with Junction 7 of the M6 Toll being located approximately 1.6 km (1 mile) to the south and Junction 12 of the M6 Motorway approximately 5 km (3 miles) to the west. The town is also served by the A34 (north-south) and A5 (east-west).
The town is connected to the national railway network with a fastest journey time of 2 hours 30 minutes to London Euston and 38 minutes to Birmingham New Street. Birmingham Airport is approximately (28 miles) to the south-east.
Situation
The property is prominently located at the entrance to the Cannock Shopping Centre.
Cannock Shopping Centre is the town’s primary covered shopping area. With over 35 places to shop, eat and drink, occupiers in the centre include New Look, Specsavers, jd Sports, EE, Costa Coffee, Holland & Barrett, Bodycare and Poundstretcher.
In addition, Cannock Market Hall is a thriving indoor market located within the shopping centre, housing services ranging from jewellery, clothing and craft supplies to watch repairs, nail technicians, food & drink and more.
The town’s main bus station is immediately adjacent to the Centre.
The shopping centre is located directly opposite the site of a significant regeneration scheme, set to transform the town centre. Cannock Chase Council has secured £20 million from the Government’s Levelling Up fund towards the project. The transformation is set to include refurbishment of the Prince of Wales Theatre, business workspace and a new “northern gateway” into Cannock. In addition, the Centre will benefit from a new pedestrianised crossing linking it directly to a to-be refurbished Beecroft Road Car Park, Cannock’s principal town centre car park. Outline planning permission has been granted and the Council is set to begin the delivery of phase one of the scheme. For further information see here.
Description
The property comprises a retail unit arranged over ground and first floor.
The ground floor area is for sales with the first floor providing ancillary/staff accommodation.
The property benefits from a rear service area, accessed via Stafford Road.
Accommodation
The property has been measured by bkr Floor Plans and provides the following net internal floor areas:
Unit 24 (EE)
Net Frontage 6.02 m 19’9”
Gross Frontage 6.48 m 21’3”
Zone A 34.47 sq m 371 sq ft
Zone B 33.07 sq m 356 sq ft
Zone C 6.69 sq m 72 sq ft
itza 567
Ground Floor Total 74.23 sq m 799 sq ft
First Floor 45.34 sq m 488 sq ft
Total 119.56 sq m 1,287 sq ft
A set of floor plans is available to download and the measured survey report will be re-addressed to a purchaser at a cost of £288.33 + VAT.
Rateable Value
According to the Valuation Office website the rateable value for the property is as follows:
Unit 24 £23,050
The business rates multiplier is 49.9 pence. The seller has appealed the valuations and expects tenants to benefit from lower rates going forward.
Tenure
Long leasehold interest until 22 July 2146 at a peppercorn rent (approximately 122 years remaining).
Tenancy
Unit 24 is let to EE Limited on a full repairing and insuring lease from 9th January 2023, expiring 8th January 2028. The tenant did not exercise their break option on 9th January 2025, demonstrating their commitment to the unit. There is a further tenant break option on 9th January 2027, subject to 6 months’ prior notice.
In the event of a government enforced lockdown as a result of a health emergency event, the rent payable will be reduced by 50% during this period.
The tenant has been in occupation since 2006 and renewed their lease in 2023, demonstrating their commitment to this location. The rent was rebased from £48,000 pa. The tenant has been in occupation for over 18 years.
The current passing rent is £18,500 per annum. The tenant currently has a 2-month rent free period ending on 8th March 2025 which will be topped up by the seller. There is an additional 1-month rent free period from 9th January 2027 if the tenant does not exercise their break.
Service Charge
The service charge for 2024-2025 for Unit 24 is £7,947.30. Please note that the service charge is fully paid for by the tenant. Please refer to the service charge information in the data room.
Covenant
EE Limited (Co. No. 02382161) has reported the following figures (in thousands):
Year Ending 31st March 2024 31st March 2023
Revenue £7,169,000 £6,913,000
Pre-Tax Profits £1,405,000 £1,771,000
Net Assets £8,614,000 £8,570,000
VAT
The property has been opted for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (togc).
Market Evidence
The adjoining property at 27-29 Market Hall Street was sold by Singer Vielle in October 2024. The property is let at £60,000 per annum and was sold for £602,500 reflecting a net initial yield of 9.48%.
Proposal
We are instructed to seek a figure of £165,000 (One Hundred and Sixty-Five Thousand Pounds), subject to contract, reflecting a net initial yield of 11.0%, assuming purchasers’ costs of 1.98%.
Please note that a purchaser will be re-charged the costs of the measured survey (£288.33+ VAT) and searches (£115.49+VAT) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT.
Investment Considerations
An opportunity to acquire a high yielding retail investment;
The property occupies a prime retailing pitch, forming the entrance to the Cannock Shopping Centre;
Highly secure income – let to EE Limited;
Tenant has been in occupation for over 18 years and did not exercise their January 2025 break option, demonstrating their commitment to this location;
Rebased rent;
Attractive net initial yield;
Attractive lot size to an investor.
For full details please visit our website
* Sizes listed are approximations. Please contact the agent to verify actual sizes.
Floor plans and tours
Tours (1)
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Step inside the property with a virtual tour or video walkthrough.
More information
Listed by
Singer Vielle
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Property descriptions and related information displayed on this page are marketing materials provided by - Singer Vielle. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Singer Vielle for full details and further information.