24, 25 & 25A The Tything, Worcester, WR1 1JL
Freehold mixed use property in Worcester
Guide price*
£395,000+
Plus fees
Sold for £435,000
Lot information
Commercial Investment
Auction details:
Wednesday 20th October 2021 @ 09:00AM
A part income producing mixed use investment property with residential development (including HMO) potential above. Current income £18,900 per annum.
Property Description
24 & 25 The Tything comprise two self-contained retail units across the ground floor, with vacant accommodation to the first and second floors. The upper floors were previously used as offices and benefit from a previous planning permission (P15D0246) for a change of use to a 6 bedroom House of Multiple Occupation (HMO). There is also a car park to the rear which provides two spaces to number 24 and one space to number 25a. The carpark also provides further income by way of a licence agreement for one space.Location
The properties occupy a prominent corner position at the junction of The Tything and Brittania Square in Worcester City Centre. The Tything is one of the main arterial roads leading into the city centre from the north, being under a quarter of a mile from Worcester’s main pedestrianised shopping area. The area is a secondary shopping location extremely popular with independent retailers whilst also being surrounded by residential property in a sought after area.Accommodation
Ground Floor: Two self-contained retail units, both currently letFirst Floor: 4 offices, kitchen, WC
Second Floor: 4 offices
Plans for the proposed conversion of the upper parts to a 6 bedroom HMO are available within the legal pack.
Energy Performance Rating
Ground Floor 24 The Tything – CGround Floor 25a The Tything – D
First and Second Floors 25 The Tything - D
Tenure
Freehold – Subject to the existing tenancies.Planning
On 30th September 2015 planning consent was granted for a change of use of the first and second floors to a six bedroom HMO (under application number P15D0246)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.Tenancy
| Term | Rental | |
|---|---|---|
| 24 The Tything: | Let to Victoria Evans on a 4 year Lease from 17th December 2020. | |
| 25a The Tything: | Let to Orathai Machacek on a 3 year Lease from 12th March 2021. | |
| Car Park Space: | Licence to Onbike Limited | |
| Total Income: | £18,900 pa. | |
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 £2,160 inc VAT (£1,800.00 + 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.
