6/6a St. Owen Street, Hereford, HR1 2PH
Freehold retail unit in Hereford
Guide price*
£150,000+
Plus fees
Sold for £195,000
Lot information
Commercial Investment
Auction details:
Thursday 12th September 2024 @ 08:30AM
An attractive freehold town centre retail unit let to Coral Bookmakers with spacious vacant self-contained upper floors, considered suitable for residential conversion or other commercial uses, subject to any necessary planning permission Current rental income: £9,800 pa. Estimated full rental value: £21,800 pa.
Property Description
The property comprises an attractive three storey mid terraced property, configured to provide a retail unit on the ground floor occupied by Coral Bookmakers and having spacious vacant well presented self-contained uppers, with a separate entrance from St. Owen Street which, until recently, was used for hair and beauty treatments Diamond Health & Beauty over the first and second floors and having an attractive roof terrace. This accommodation is considered suitable for a variety of alternative commercial uses or conversion to residential, subject to any necessary planning consents.Location
The property occupies a prominent position fronting the southern side of St. Owen Street close to St. Peters Square and the main retail core.St. Owen Street is an attractive road of architectural interest and provides a variety of uses including retail, professional offices, medical and residential.
Accommodation
6 St. Owen StreetGround Floor Retail Unit: Operating as a betting office, having open plan sales area, including trade counter, customer WC, staff kitchen, stationery store, staff WC. The accommodation extends to approximately 1,010 sq.ft. (93.90 sq.m.).
6a St. Owen Street - Having a separate front door entrance with stairs leading to:-
First Floor: Reception/waiting area, three rooms, laundry, stores, WC, double doors leading to an attractive roof terrace area.
Second Floor: Three rooms, staff area with WC off.
The accommodation of the uppers extends to approximately 1,038 sq.ft. (96.51 sq.m.).
We have not undertaken a measured survey and all interested parties should seek their own verification of floor areas and dimensions and the suitability for their proposed future use.
Energy Performance Rating
See legal pack.Tenure
Freehold6 St. Owen Street: Let by way of a Lease to Coral for a term of 10 years with effect from 23rd April 2008. The tenant is currently holding over at a rent of £9,800 per annum.
6a St. Owen Street: Vacant possession upon completion.
We understand that Coral have been in occupation for approximately 30 years.
We have not had sight of the Lease documentation, a copy will be available for inspection within the legal pack.
Value Added Tax
We understand VAT is not applicable on this transaction.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.
