48-50 Astwood Road, Worcester, WR3 8EZ

Freehold mixed use property in Worcester

Guide price*

£295,000+

Plus fees

Sold prior to auction, for an undisclosed amount

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Lot 211 Commercial Investment Mixed Use Residential Investment
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Auction details:

Thursday 9th September 2021 @ 09:00AM

Live-streamed Auction

A Freehold Mixed Use Investment Opportunity comprising a ground floor retail unit and a recently refurbished six bedroom HMO above, having potential for further development to the rear subject to any necessary planning permissions Estimated Full Rental Value: £38,500 pa

Property Description

The property comprises a ground floor retail unit currently operating as a cafe having a 32 cover seating area and fitted kitchen. On the upper floors there is a newly renovated HMO including new central heating system, rewiring, modern kitchen and bathroom fittings, redecoration and new floor coverings. On the first floor there are two bedrooms, modern communal kitchen, modern communal bathroom, shower cubicle, wash hand basin and WC, a separate WC and wash hand basin. On the second floor there are four further bedrooms and a communal bathroom. Outside there is a good size rear garden with newly laid patio and lawn area. The property is considered to offer the potential for further development to the rear subject to obtaining any necessary planning permission.

Location

The property lies to the southern side of Astwood Road a busy local route linking Rainbow Hill and Bilford Road. The property is situated within a densely developed predominantly residential neighbourhood approximately 2 miles north east of Worcester city centre.
The newly refurbished and well presented residential accommodation is considered ideal for nursing and medical staff working at the nearby Worcestershire Royal Hospital and students at the University of Worcester.

Energy Performance Rating

Residential: D & Commercial: D

Tenure

The property is Freehold subject to a lease in respect of the ground floor cafe at £9,000 per annum. The uppers will be available with vacant possession upon completion.

Value Added Tax

See legal pack.

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.
Centrick
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.

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