24, 25 & 25A The Tything, Worcester, WR1 1JL
Freehold mixed use property in Worcester
Sold for £435,000
A part income producing mixed use investment property with residential development (including HMO) potential above. Current income £18,900 per annum.
Property Description24 & 25 The Tything comprise two self-contained retail units across the ground floor, with vacant accommodation to the first and second floors. The upper floors were previously used as offices and benefit from a previous planning permission (P15D0246) for a change of use to a 6 bedroom House of Multiple Occupation (HMO). There is also a car park to the rear which provides two spaces to number 24 and one space to number 25a. The carpark also provides further income by way of a licence agreement for one space.
LocationThe properties occupy a prominent corner position at the junction of The Tything and Brittania Square in Worcester City Centre. The Tything is one of the main arterial roads leading into the city centre from the north, being under a quarter of a mile from Worcester’s main pedestrianised shopping area. The area is a secondary shopping location extremely popular with independent retailers whilst also being surrounded by residential property in a sought after area.
AccommodationGround Floor: Two self-contained retail units, both currently let
First Floor: 4 offices, kitchen, WC
Second Floor: 4 offices
Plans for the proposed conversion of the upper parts to a 6 bedroom HMO are available within the legal pack.
Energy Performance RatingGround Floor 24 The Tything – C
Ground Floor 25a The Tything – D
First and Second Floors 25 The Tything - D
TenureFreehold – Subject to the existing tenancies.
PlanningOn 30th September 2015 planning consent was granted for a change of use of the first and second floors to a six bedroom HMO (under application number P15D0246)
Auctioneers NotePlease note offers may be considered prior to the Auction Sale.
Remote Bidding AuctionThis 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.
ViewingsStrictly by appointment with the Auctioneers.
|24 The Tything:||Let to Victoria Evans on a 4 year Lease from 17th December 2020.||£10,800 pa.|
|25a The Tything:||Let to Orathai Machacek on a 3 year Lease from 12th March 2021.||£7,500 pa.|
|Car Park Space:||Licence to Onbike Limited||£600 pa.|
|Total Income:||£18,900 pa.|
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 all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
REMOTE BIDDING AUCTION
Please note that the Auction will be livestreamed via our website with Remote Bidding by Proxy, Telephone or Internet Only. You must pre-register to bid for each auction no later than 24 hours 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 £1,680 inc VAT (£1,400.00 + 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 is available to download free of charge under the ‘lot information’. 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.
A freehold commercial ground rent being sold on behalf of Birmingham City Council