Unit 1, 17 & 18 Wordsley Green Shopping Centre, Stourbridge, DY8 5PD
A Freehold Mixed Use Investment Property in Stourbridge
Guide price*
£150,000+
Plus fees
Sold for £247,000
Lot information
Commercial Investment
Mixed Use
Auction details:
Thursday 16th May 2024 @ 08:30AM
Flat 18 is holding over on a periodic rolling monthly tenancy - updated 08.05.2024 @ 07:45.
A Freehold Terraced Mixed Use Investment Current Income £20,400 PA
Property Description
A Mid Terraced Mixed Use Property comprising a ground floor retail unit currently leased as a hairdressers and beauty room, with a self contained first floor two bedroom flat above with access and a separate garage to the rear. The property lies within a busy neighborhood shopping centre which includes other business's such as Sainsbury's, Spar, Post Office and Subway and other amenities along with a local library and free car park.Accommodation
Ground Floor: Retail Unit- Large Retail Salon Area, Rear Beauty Room, Kitchen Area, WC.First Floor: Self Contained Flat- No 18- Reception Hall, Reception Room, Kitchen, Inner Hall, Two Bedrooms, Shower Room/WC
Outside: External Staircase, Parking and Rear Access for deliveries etc. Separate Garage in a block.
The property benefits from Double Glazing and Electric Heating.
Energy Performance Rating
See legal pack.Council Tax Band
Flat 18: ATenure
Freehold – Subject to the existing tenancies.Tenancy Details
Ground Floor Retail Unit: Let on a lease term of 10 years from 01/11/2022 at a rent of £12,000 per annum plus VAT (the tenant has paid a deposit of £3,000). We are advised that there is a rent review and a break clause on the 5th anniversary.First Floor Apartment: Let at a rental figure of £600pcm (£7,200 per annum).
Garage: Let at £1200 per annum.
Total rent: £20,400 per annum
Value Added Tax
We understand VAT is applicable on this transaction.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.Viewings
External viewings only.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.
