Brewery Street Shopping Centre, Brewery Street, Rugeley, Staffordshire, WS15 2DY
Commercial investment in Rugeley with future refurbishment potential. Current gross rental income £136,750 pa
Guide price*
£500,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Wednesday 8th December 2021 @ 09:00AM
A Freehold High Yielding, Well Established Town Centre Retail Investment Opportunity with Car Parking and having future refurbishment potential, subject to obtaining the necessary planning permission. Current Gross Rental Income: £136,750 pa.
Property Description
The property comprises a prominent, well established and vibrant shopping arcade, occupied by a variety of local independent traders including a popular cafe and having a single occupier on the first floor. The property benefits from free customer on-site car parking. There are several entrances from Brewery Street and the car park. The accommodation is located over two floors, extending in total to approximately 23,343 sq.ft. (2,169 sq.m.). The property has potential to provide Town Centre business units, subject to obtaining the necessary planning permission, suitable for use as trade counters, offices or retail with car parking immediately to the front.Location
The property occupies a prominent position fronting Brewery Street within the heart of Rugeley Town Centre. Within the vicinity, there is a good mix local and national operators, including Argos, Boots, Greggs, Costa, Lloyds Bank, New Look and Coral. In addition to benefiting from its own car parking, there is a 'Pay & Display' car park immediately opposite.Rugeley is a market town lying on the northern edge of Cannock Chase, an area of Outstanding Natural Beauty. It lies approximately 8 miles north of Lichfield and 10 miles south east of Stafford.
The town has benefitted from considerable regeneration in recent years, including a large Amazon Centre and will benefit from further investment with the recent closure and demolition of the local power station, where development has been earmarked for 2,300 new homes, business uses, a new school and a riverside country park.
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the following tenancy schedule.Value Added Tax
We understand that VAT will be chargeable upon this transaction, however it could be treated as a TOGC for a VAT registered purchaser. Further details will be available within the legal pack.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 Details
| Blank | Blank | Blank | Blank | Blank | Blank |
|---|---|---|---|---|---|
| [B]UNIT[/B] | [B]TENANT[/B] | [B]LEASE START DATE[/B] | [B]LEASE TERM[/B] | [B]LEASE EXPIRY[/B] | [B]RENT INCOME PA[/B] |
| Unit 1a | Individual | £5,200.00 | |||
| Unit 1b | Individual | 12.04.2021 | £2,166.84 | ||
| Unit 1c | Vacant | ||||
| Unit 1d | Vacant | ||||
| Unit 2 & 3 | Individual | 31.01.2015 | £12,133.16 | ||
| Unit 4 | Individual | 01.01.1997 | 3 years | 31.12.1999 | £6,066.32 |
| Unit 5 | Traders Association | £1,083.16 | |||
| Unit 6a/b | Individual | 30.08.2021 | 1 year | 29.08.2022 | £4,333.33 |
| Unit 7a | Individual | 08.11.2021 | 1 year | 08.11.2022 | £2,166.66 |
| Unit 7b | Individual | 08.06.2020 | 1 year | 07.06.2021 | £3,033.16 |
| Unit 8 & 9 | Individual | 17.08.2020 | £3,250.00 | ||
| Unit 10a, 10b, 11a, 11b, 15a, 15b, 16a & 16b | Individual | 04.04.2021 | £9,100.00 | ||
| Unit 12 | Individual | £3,900.00 | |||
| Unit 14 | Individual | 19.07.2021 | £3,466.67 | ||
| Unitr 17 | Individual | 29.09.1997 | 8 years 10 months | 31.07.2006 | £5,200.00 |
| Unit 18 | Individual | 05.07.2021 | £3,900.00 | ||
| Unit 19 | Individual | 05.07.2021 | £3,033.16 | ||
| Unit 20/21 | The Shoe Must Go On | 12.10.2020 | £5,633.16 | ||
| Unit 22 | Rugeley Cafe | 05.11.2021 | 1 year | 04.11.2022 | £24,000.00 |
| Unit 23 | Individual | 19.04.2021 | £2,166.66 | ||
| Unit 24 | Individual | 07.12.2020 | £3,033.16 | ||
| Unit 25/26a/26b | Individual | 12.04.2021 | £7,150.00 | ||
| Unit 27 | Individual | 26.04.2021 | £4,766.84 | ||
| First Floor Unit | The Den 101 CIC | 02.08.2019 | 01.08.2024 | £12,000.00 | |
| 4/6 Telecom Mast | Telefonica O2 UK Ltd | 29.08.2008 | 15 years | 28.08.2023 | £9,980.82 |
| Wayleave | Wayleave Rugeley Tenants Central Networks West | 31.07.2008 | £2.96 | ||
| Total: | £136,766.06 | ||||
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.
