4-16 Brook Square, Rugeley, Staffordshire, WS15 2DR
Retail investment/development opportunity in Staffordshire
Guide price*
£475,000+
Plus fees
Sold for £520,000
Lot information
Commercial Investment
Land/Development
Auction details:
Wednesday 19th May 2021 @ 08:30AM
Live-streamed Auction
A Freehold Investment/Development Opportunity Current Gross Income: £24,700 pa. Potential Income: £90,000 pa once fully let.
Property Description
The opportunity comprises a parade of 5 retails shop with ancillary accommodation on the first and second floors. To the rear is a shared service yard accessed from Elmore Lane. There is excellent scope for residential development subject to obtaining the necessary planning consent.Location
Rugeley, with a population of some 23,000, is a Staffordshire market town situated on the A51 approximately 8 miles south-east of Stafford. The M6, located to the south and west, provides good road links to the national motorway network.The property is situated in the heart of the town’s shopping centre on the corner of the pedestrianised Brook Square at its junctions with Upper and Lower Brook Street and Brewery Street.
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancies.Value Added Tax
We are advised that VAT is payable in addition to the purchase price.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.A member of Bond Wolfe Auctions has a vested interest in this property.
Remote Bidding Auction
This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.Viewings
Strictly by appointment with the Auctioneers. Please ensure that you have viewed the 360 degree video and/or photographs of the property before arranging a viewing appointment. If you then decide you would like to view the property in person, please call our office on 0121 312 1212 and you will be allocated a 5 minute appointment slot.Accommodation / Tenancy Details
| Demise | Area (sq.ft.) | Tenant | Term | Rent PA | ERV | Comments |
|---|---|---|---|---|---|---|
| 4-8 Brook Square | 5,191 | Vacant | £45,000.00 | |||
| 10 Brook Square | 2,100 | Vacant | £20,000.00 | |||
| 12 Brook Square | 619 | Longship Importers Ltd t/a Viking e-cigs |
3 years from 13/08/2015 Expiry: 12/08/2018 |
£6,950.00 | £7,500.00 | Tenant Holding Over |
| 14 Brook Square | 623 | Xuan Hiep Dao | 5 years from 02/09/2019 Expiry: 01/09/2024 |
£9,000.00 | £9,000.00 | Rent Review 22/09/2022 |
| 16 Brook Square | 634 | Yakup Karakaya & Suleyman Karakaya |
10 Years from 24/06/2015 Expiry: 23/06/2025 |
£8,750.00 | £8,500.00 | |
| Service Yard to the rear | ||||||
| Totals: | 9,167 | £24,700.00 | £90,000 |
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 £1,920 inc VAT (£1,600.00 + 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.
