127 High Street, Bromsgrove, Worcestershire, B61 8AE
A Retail Investment within a Prominent Pedestrianised High Street Location in Bromsgrove
Guide price*
£215,000+
Plus fees
Sold for £232,000
Lot information
Commercial Investment
Auction details:
Thursday 21st July 2022 @ 09:30AM
A Long Leasehold (999 years) Virtual Freehold, Well Let Ground Floor Retail Investment Within A Prominent Pedestrianised High Street Location Current Rental Income £24,000 PA
Property Description
The property comprises a well presented mid terraced ground floor retail unit with a main sales area and ancillary stores, with a kitchen area and staff WC. The accommodation extends to approximately 884sqft (82.20sqm).Location
The property occupies a prominent position fronting the popular pedestrianised High Street within Bromsgrove town centre. Within the vicinity there is a good mix of local traders and national operators including Argos, Specsavers, Subway, Photo Factory, The Slug and Lettuce and Cancer Research.Bromsgrove is a popular market town situated approximately 13 miles south west of Birmingham and 12 miles north of Worcester. The town enjoys excellent access to the national motorway network with junctions 1 of the M42 and 4 & 5 of the M5 motorway being within a short drive of the town centre.
Energy Performance Rating
CTenure
The property is long leasehold for a term of 999 years (virtual freehold) at a ground rent of £50 per annum.The property is let to Blue Cross for a term of 10 years expiring on 03/07/2028 at a rental of £24,000 per annum, we understand that there is a rent free period for 6 months with effect from 06/05/2022 until 16/11/2022. This is to reflect the recent removal of a tenants option to break. The vendor will make a rent top up from the date of completion until the end of the rent free period.
Blue Cross is a registered animal welfare charity in the United Kingdom founded in 1897, providing vetinary care, expert behavioural help and rehoming of pets.
We have not has sight of the lease documentation, however copies will be available for inspection within the legal pack.
Value Added Tax
We understand that VAT will be chargeable on this transaction, for those who are VAT registered, the intention will be to treat as a TOGC. Full details will be available within the legal pack.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.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.
