An exciting opportunity to acquire an attractive period property set within the charming historic heart of Ludlow, with huge potential for a range of uses (subject to planning) including a coffee shop, wine bar, holiday lets, residential apartments...and more.
Historic freehold property totalling 5,300 sqft comprising of ground floor retail (circa 1,500 sqft), two storeys of accommodation (circa 2,500 sqft), separate courtyard building (circa 1,300 sqft) and a cellar.
An exciting opportunity to acquire an attractive period property set within the charming historic heart of Ludlow, with huge potential for a range of uses (subject to planning) including a coffee shop, wine bar, holiday lets, residential apartments...and more.
LOCATION No. 6 & 7 The Bull Ring lies at the end of the medieval market area which stretches eastward from the entrance of Ludlow Castle. The Property sits within the main shopping area of Ludlow as well as one of the primary vehicular through routes off Corve Street.
HISTORY Heber Rickards established Rickards at No. 6 & 7 The Bull Ring in 1864. It has been a much loved hardware shop for over 150 years serving the local community. The Property is of nineteenth century construction and extends to 3 storeys with a cellar. The shopfront benefits from glazed double doors and canted windows, elsewhere, the windows are predominately wooden sashes and leaded casements of Regency and Victorian style. The Courtyard Building is located to the rear of No. 6 & 7 and is connected by way of an open courtyard.
NO. 6 & 7 GROUND FLOOR No. 6 & 7 The Bull Ring is occupied as a single retail enterprise. Rows of wooden drawers run along the back walls with a 19th-century cash desk protected by a sliding glass window in the centre. Beyond street level, an open plan retail area overlooks The Courtyard with a separate room utilised as a kitchenette and WC. A further room is occupied as an office and benefits from a curved window overlooking The Courtyard. The floorspace surrounding The Courtyard includes one store and three further rooms, one of which is presently utilised as an AGA sales room. The Cellar is accessed directly from No. 7 by way of a staircase.
FIRST FLOOR & SECOND FLOOR The first floor is accessed by a staircase from No. 7. On the first floor there are once elegant rooms which served as the Rickards family accommodation for over twenty years. The original dining room has a well preserved ceiling rose with a large feature window overlooking Corve Street. Above, on the second floor, the majority of the rooms enjoy views onto Corve Street and The Bull Ring, whilst the room to the rear looks onto St Lawrence’s Church. The wallpaper in the rooms suggests their original use as bedrooms. Both floors predominately feature exposed wooden floorboards and benefit from electrical light fittings.
COURTYARD BUILDING The Courtyard Building is accessed from The Courtyard through either No. 6&7, or through a gateway to a side passage leading onto Corve Street (B4361). The Courtyard Building served as a rear warehouse to Rickards & Son Ltd and is typical of an early nineteenth century storage building. Access is from a staircase off The Courtyard which leads to the first floor which has two rooms annotated as Store 4 & 5 on the floor plan. The second floor is accessed from a wooden staircase which leads into Store 6 & 7. Access into the Attic is reached by way of a steep wooden staircase. There is a fine view looking across to The Readers House and St Laurence’s Church. The flooring throughout is predominately exposed wooden floorboards and there are a number of feature beams visible throughout.
FIXTURES & FITTINGS The shop counter & drawers will remain.
SERVICES The Property is connected to mains water (metered), mains drainage (Severn Trent), mains electricity (Western Power) and mains gas. There is no central or storage heating. The only form of heating derives from fan heaters, the AGA (ran off mains gas) and a gas fire in the office.
TENURE & POSSESSION Freehold available on completion. Although this sale is solely for The Property and not the business, the vendor is willing to enter into discussions should any purchaser be interested in buying the retail arm of Rickards & Son Ltd. RATES £15,469 (2021-22) per annum. Currently subject to Government grant reduction scheme. EPC RATINGS Exempt due to Grade II listing status.
LOCAL AUTHORITY Shropshire Council, Shirehall, Abbey Foregate, SY2 6ND
HEALTH & SAFETY Please take care when viewing the property and be as vigilant as possible when making an inspection for your own personal safety.
WAYLEAVES EASEMENTS & RIGHTS OF WAY A right of way granted by conveyance allows for access between No. 9/10 The Bull Ring and No. 7 The Bull Ring. The access passage is obtained through a locked pedestrian gate off Corve Street allowing for access into the side doors of No.7.
LISTING STATUS Grade II listed
DEVELOPMENT POTENTIAL The benefit of the property is that the upper floors and the courtyard building both have an independent access and are not reliant on access through the retail frontage. There is development opportunity for a range of uses (subject to planning) including a coffee shop, wine bar, holiday lets, residential apartments and more. A pre-application enquiry was undertaken with Shropshire Council. The presented proposal included the retention of the retail floorspace on the ground floor, with storage provision in the cellar. A complete renovation could then allow for two apartments on the first and second floors, both of which provided two bedrooms with spacious living accommodation. A further separate two-bedroom apartment was proposed in The Courtyard Building. The proposals received positive feedback from Shropshire Council.
METHOD OF SALE The Property is offered for sale by Private Treaty at offers over £595,000
VIEWINGS Viewings are strictly by appointment with the selling agent. Interested parties are not permitted to view the property without a prearranged appointment with the selling agent. Under no circumstances should contact be made with Rickards' regarding viewing appointments.
The next steps...
1
Establish funds
How will you fund the purchase?
Before making an offer on a property you will want to consider your financial situation, your income and outgoings.
Will you finance the purchase of your next property from the sale of an existing property which can put you in a chain, arrange a mortgage through your bank or buy the property outright.
To help you finance your next property purchase, we have a long established relationship with an independent mortgage broker who can discuss your situation with you.
They do all the legwork for you, working on your behalf with the lender
They compare wholesale mortgage rates from a large number of banks and lenders all at once
Wholesale interest rates can be lower than retail (bank branch) interest rates
You get more loan options because they work with numerous banks and lenders
Brokers can finance tricky deals because of their knowledge and various lending partners
Are typically easier to get in contact with, less bureaucratic.
However with your bank maybe able to:
Build off existing relationship (discounts if you have a checking/saving account)
You may already know the banker who will handle your mortgage
Perhaps more trustworthy, more accountable than a smaller shop
Lower interest rates in some cases
Ability to add mortgage to existing banking profile and make automatic payments from linked account.
2
Making an offer
online with Carter Jonas.
When it comes to making an offer on a property a bit of negotiation is to be expected, however don't offer so little that you end up in a lengthy negotiation process, as you might lose the property altogether if someone else makes a higher bid.
If other offers have been made on a property we aren't legally able to tell you what they are, but we may indicate if they were close to the asking price.
We want to make the offer process as simple as possible and by registering with an account with Carter Jonas today, you can make offers on any of our properties online and at your convenience. Just register with us online and click the 'make an offer' button on any of our properties.
3
Need to sell a property
or thinking of renting?
If you have a property to sell, why not see how we can help you. Did you know we can offer all our residential clients a login that will allow them to track their property sale online.
Our offices are also open longer during the week and weekends and we can take calls from potential buyers 24 hours a day 365 days a year.
We can even take the stress out of managing your rental, our award winning lettings team offer a service that can be tailored to your needs.
Combined with over 150 years of experience and one of the highest customer satisfaction scores in the industry, Carter Jonas is the perfect property partner.
Whether you are looking for office or house, a farm or estate the UK property market is notoriously fast moving.
So if you want to be at the front of the property queue, ensure you are signed up to receive daily property alerts and gain instant access to your saved properties and frequent searches.
Also by registering with us online you will receive select research and relevant publications before anybody else and gain access to helpful guides, which will aid you with your property purchase.
Don't forget to use our innovative and unique property wizard to help you find properties you would may not have initially considered, and remember that by registering an account you can make an offer online on your dream home 24/7.
Receive email alerts
Fast access to your recent searches
Publication before anyone else
Helpful guides to aid you in your property search
Make offers on property online.
5
Found a property, interested?
Arrange a viewing today.
Viewing a house or flat can be an exciting time, but remember to register with you local office of Carter Jonas first.
This could give you access to confidential sales (properties we are requested not to advertise) which you will never see online.
It's also worth registering with us online, here you can setup email alerts which will be sent daily, updating you on the latest properties that match your requirements.
When you see a property you are interested in on our website, call us 24/7 to arrange a viewing. Or if you prefer, get in touch via our website and we will call you back to find a time to view the property that suits you.
