4 Richmond Road, Malvern, Worcestershire, WR14 1NE
Freehold retail investment opportunity in Malvern
Guide price*
£145,000+
Plus fees
Unsold
Lot information
Commercial Investment
Auction details:
Wednesday 11th December 2024 @ 08:30AM
A Freehold Retail Investment Opportunity Current Gross Income: £16,250 pa.
Property Description
The property comprises two separate retail shops on the ground floor which extend in total to 1,081 sq.ft. (100.43 sq.m). There is residential accommodation above which has been sold off on a long leasehold basis for a term of 125 years from 1st April 2005. The shops operate independently as a café & hair salon with off street parking available to the front of the hair salon.Location
The property occupies a prominent position on Richmond Road, close to the junction with the A449 Worcester Road. It is situated close to the amenities of Malvern Link which offers a range of independent shops, Co-op supermarket, takeaways, eateries and community facilities. Further and more extensive facilities are available in the neighbouring town of Great Malvern or the city of Worcester.Transport communications are excellent with Malvern offering a mainline railway station with direct links to Worcester, Birmingham, London, Hereford and South Wales. The M5 motorway is close at hand just outside Worcester bringing The Midlands and South West into an easy commute.
Accommodation
Unit 1 – 422 sq.ft. (39.18 sq.m).Unit 2 – 659 sq.ft. (61.25 sq.m).
The first floor accommodation has been sold off on a Long Leasehold basis.
Energy Performance Rating
D.Council Tax Band
B.Tenure
Freehold – Subject to the existing tenancies.Tenancy Details
Unit 1 – Trading as Sunbeans café & Sunbeds, let for a term of 5 years from 27th February 2024, expiring 26th February 2029, at a passing rent of £8,750 per annum.Unit 2 – Trading as Luxury Cutz, let for a term of 5 years from 1st March 2022, expiring 28th February 2027, at a passing rent of £7,500 per annum.
The combined total rental income is £16,250 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
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.
