Grosvenor House, High Street, Bromsgrove, Worcestershire, B61 8DA

Modernised Freehold office investment in Bromsgrove Town Centre

Property details

Type Investment, Office
Tenure Freehold, subject to the existing tenancies.
Price Offers based on £775,000
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Features
  • Modernised Freehold office investment in Bromsgrove Town Centre
  • 6,401 sq. ft. (594.87 SQ M) over first and second floors
  • Producing £58,588 per annum
  • Planning consent for residential conversion
  • On site rear car park
  • Retail element sold off long leasehold
  • Offers based on £775,000, equating to a NIY of 7.14% after costs
Location
Bromsgrove is a prosperous and thriving Worcestershire market town situated approximately 13 miles to the south west of Birmingham, 12 miles to the north of Worcester and 7 miles to the west of Redditch. The town centre has excellent motorway access with junction 1 of the M42 and junctions 4 and 5 of the M5 motorway all being within 4 miles of the town centre. Bromsgrove’s main railway station which has recently been redeveloped, provides a fast and frequent rail service to Birmingham New Street to the north and Worcester, Hereford and Cheltenham to the south.
Description

Grosvenor House comprises 6,401 sq. ft. (594.87 sq m) of substantially modernised office accommodation over first and second floors. There are 14 dedicated onsite car parking spaces to the rear and a separate rear access leading to a ground floor reception area with stairs leading to the refurbished first and second floor office accommodation.

Accommodation
Ground floor reception lobby - 290 sq ft/26.94 sq m
First floor front - 1,555 sq ft/144.51 sq m
First floor rear - 1,511 sq ft/144.14 sq m
Second floor (office 1&4) - 1,385 sq ft/18.71 sq m
Second floor (office 2&3) - 1,660 sq ft/154.27 sq m
Total - 6,401 sq ft/594.87 sq m
Price
Offers based on £775,000 are invited for the Freehold interest . A purchase at this level reflects a NIY of 7.14% after the usual purchaser’s costs of 5.45%.
Planning
Under application number 20/00920/CUPRIO the property benefits from prior approval for the conversion of the second floor to 6 self-contained apartments . Additionally , plans have been drawn up and ready to submit for the conversion of the first floor to 7 self-contained apartments, creating 13 apartments over two floors.
Tenancy
Please see brochure for a full tenancy schedule.
EPC
Available upon request.
Legal Costs
Each party is to be 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.