Strand House, 68-70 The Strand, Bromsgrove, B61 8DQ
Freehold Office Investment in Bromsgrove
Guide price*
£495,000+
Plus fees
Sold Prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Wednesday 28th October 2020 @ 09:00AM
A freehold Town Centre detached character office building with large car park, set in 0.51 acres (Approx) and let to a long term established tenant, producing £42,000 PAX.
Property Description
The property comprises an attractive character grade II listed detached three story building of brick construction with a pitch tiled roof. The accommodation is laid out over ground, first, and second floors incorporating a mixture of cellular and open plan office space. The property is currently utilised as solicitors’ offices by long standing tenants and benefits from a substantial car park to the rear. Sitting in approximately 0.51 acre and situated in a prime town centre position, the property also provides potential future redevelopment opportunities.Location
The property occupies a prominent corner location in the centre of Bromsgrove within easy to all local amenities and public transport. Bromsgrove town centre offers a range of shops, leisure centres and first, middle, and high schools.Bromsgrove lies approximately 9½ miles south of Birmingham, 8 miles west of Redditch and 12 miles north east of Worcester. It is well placed in terms of main road and rail communications being served to the north by junction 4a of the M5 motorway which links with the M42 and to the south by junction 5 of the M5. Birmingham and Birmingham International Airport and railway station are within a half hour drive and London is approximately 2 hours via the M42/M40.
Energy Performance Rating
C.Tenure
Freehold – Subject to the existing tenancy.Tenancy Details
The properties are let in their entirety to Thomas Horton LLP on a renewed lease, expiring 31/08/2025 (approximately 5 years unexpired), at a passing rent of £42,000 per annum exclusive.Thomas Horton LLP are a full service law firm established in 1850, with offices in Bromsgrove and Redditch.
Value Added Tax
We understand that VAT is not chargeable on this transaction.Auctioneer's Note
A member of Bond Wolfe Auctions has a vested interest in the property.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.Remote Bidding Auction
This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.Viewings
Strictly by appointment with the Auctioneers.DISCLAIMER
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
LIVE-STREAMED AUCTION
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £2,340 inc VAT (£1,950.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
