62-68 High Street, Bromsgrove, B61 8EX

A prime freehold retail and residential investment

Property details

Type Investment
Tenure Freehold, subject to the existing tenancy.
Price Offers over 1,200,000
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Features
  • Prime retail/residential investment
  • 3 ground floor shops with 2 flats above
  • Tenants include Boots Opticians and Smart Ideas
  • Freehold - Offers over £1,200,000 are sought for the freehold interest, representing a NIY 6.73%, based on a passing rent of £85,518
Location
Bromsgrove is a prosperous and busy Worcestershire market town situated approximately 15 miles south west of Birmingham and 14 miles to the north east of Worcester. The town has excellent road communications being situated 2 miles from junction 1 of the M42 motorway and junction 4 of the M5 motorway. Bromsgrove’s railway station has recently been upgraded to provide a new interchange and provides fast and frequent trains to Birmingham New Street, Worcester, Hereford and Cheltenham.
Description

The property comprises a purpose built retail parade of 3 well configured shop units on the ground floor with ancillary accommodation over first and second floors to one unit and residential on the two upper floors over the two remaining units. The property has the benefit of rear access from Windsor Street and there is also a large rear service yard/car park with space for 12 vehicles and 2 brick built garages.

Accommodation
Please see brochure.
Price
Offers in excess of £1,200,000 are sought for the freehold interest. A purchase at this level would represent a Net Initial Yield of 6.73%, allowing for purchasers costs of 5.92%.
Tenancy
Please refer to brochure for a full tenancy schedule.
VAT
We are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.
EPC
Available upon request.
Legal Costs
Each party are to responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering
In accordance with Anti Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.