3-5 Alcester Road, Studley, Warwickshire, B80 7AN
Leasehold investment opportunity in Studley
Guide price*
£70,000+
Plus fees
Sold for £82,000
Lot information
Commercial Vacant
Auction details:
Wednesday 21st July 2021 @ 08:30AM
A High Yielding Mixed Use Leasehold Investment Opportunity, Generating A Profit Rent Of £21,780
Property Description
The property comprises a former bank premises which has been configured to and refurbished to provide 2 retail units on the ground floor and 2 well presented two bedroom apartments on the first floor with forecourt parking.Location
The property fronts Alcester Road close to it's junction with Station Road within the centre of Studley where there is a good mix of national and regional operators including Aldi, Co Op and Tesco Express.Studley is a popular Warwickshire village lying approximately 3 miles south of Redditch and 9 miles north of Stratford Upon Avon.
Energy Performance Rating
DTenure
The premises are held on the basis of a head lease for a term of 25 years with effect from the 13th July 2019 with 5 yearly rent reviews and at a current rent of £23,000 per annum. There are approximately 23 years unexpired and the property is subject to the following sub tenancies.Value Added Tax
We understand that VAT will not be payable on this transaction.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.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 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.Tenancy
| Room | Term | Rental |
|---|---|---|
| Ground Floor- Retail Unit 1 | T/A trading as Bumbles Coffee Shop- Let by way of a 5 year FRI lease commencing on the 24/0/2019 | £14,000 per annum, rising to £15,000 per annum from 24/9/2021 |
| Ground Floor- Retail Unit 2 | T/A Kayes Beauty Salon - Let by way of a 5 year FRI lease | £9,000 per annum |
| Apartment A | Let by way of an Assured Shorthold Tenancy | £836pcm |
| Apartment B | Let by way of an Assured Shorthold Tenancy | £870pcm |
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.
