We are back in the auction room for our 21st July auction!

 

Brewery Street Shopping Centre, Brewery Street, Rugeley, Staffordshire, WS15 2DY

Commercial investment in Rugeley with future refurbishment potential. Current gross rental income £136,750 pa

Guide price*

£500,000+

Plus fees

Sold prior to auction, for an undisclosed amount

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Finance available on this property

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Lot 53 Commercial Investment
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Auction details:

Wednesday 8th December 2021 @ 09:00AM

Livestreamed Auction

A Freehold High Yielding, Well Established Town Centre Retail Investment Opportunity with Car Parking and having future refurbishment potential, subject to obtaining the necessary planning permission. Current Gross Rental Income: £136,750 pa.

Property Description

The property comprises a prominent, well established and vibrant shopping arcade, occupied by a variety of local independent traders including a popular cafe and having a single occupier on the first floor. The property benefits from free customer on-site car parking. There are several entrances from Brewery Street and the car park. The accommodation is located over two floors, extending in total to approximately 23,343 sq.ft. (2,169 sq.m.). The property has potential to provide Town Centre business units, subject to obtaining the necessary planning permission, suitable for use as trade counters, offices or retail with car parking immediately to the front.

Location

The property occupies a prominent position fronting Brewery Street within the heart of Rugeley Town Centre. Within the vicinity, there is a good mix local and national operators, including Argos, Boots, Greggs, Costa, Lloyds Bank, New Look and Coral. In addition to benefiting from its own car parking, there is a 'Pay & Display' car park immediately opposite.
Rugeley is a market town lying on the northern edge of Cannock Chase, an area of Outstanding Natural Beauty. It lies approximately 8 miles north of Lichfield and 10 miles south east of Stafford.
The town has benefitted from considerable regeneration in recent years, including a large Amazon Centre and will benefit from further investment with the recent closure and demolition of the local power station, where development has been earmarked for 2,300 new homes, business uses, a new school and a riverside country park.

Energy Performance Rating

See legal pack.

Tenure

Freehold – Subject to the following tenancy schedule.

Value Added Tax

We understand that VAT will be chargeable upon this transaction, however it could be treated as a TOGC for a VAT registered purchaser. Further details will be available within the legal pack.

Auctioneers 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.

Tenancy Details

Blank Blank Blank Blank Blank Blank
[B]UNIT[/B] [B]TENANT[/B] [B]LEASE START DATE[/B] [B]LEASE TERM[/B] [B]LEASE EXPIRY[/B] [B]RENT INCOME PA[/B]
Unit 1a Individual £5,200.00
Unit 1b Individual 12.04.2021 £2,166.84
Unit 1c Vacant
Unit 1d Vacant
Unit 2 & 3 Individual 31.01.2015 £12,133.16
Unit 4 Individual 01.01.1997 3 years 31.12.1999 £6,066.32
Unit 5 Traders Association £1,083.16
Unit 6a/b Individual 30.08.2021 1 year 29.08.2022 £4,333.33
Unit 7a Individual 08.11.2021 1 year 08.11.2022 £2,166.66
Unit 7b Individual 08.06.2020 1 year 07.06.2021 £3,033.16
Unit 8 & 9 Individual 17.08.2020 £3,250.00
Unit 10a, 10b, 11a, 11b, 15a, 15b, 16a & 16b Individual 04.04.2021 £9,100.00
Unit 12 Individual £3,900.00
Unit 14 Individual 19.07.2021 £3,466.67
Unitr 17 Individual 29.09.1997 8 years 10 months 31.07.2006 £5,200.00
Unit 18 Individual 05.07.2021 £3,900.00
Unit 19 Individual 05.07.2021 £3,033.16
Unit 20/21 The Shoe Must Go On 12.10.2020 £5,633.16
Unit 22 Rugeley Cafe 05.11.2021 1 year 04.11.2022 £24,000.00
Unit 23 Individual 19.04.2021 £2,166.66
Unit 24 Individual 07.12.2020 £3,033.16
Unit 25/26a/26b Individual 12.04.2021 £7,150.00
Unit 27 Individual 26.04.2021 £4,766.84
First Floor Unit The Den 101 CIC 02.08.2019 01.08.2024 £12,000.00
4/6 Telecom Mast Telefonica O2 UK Ltd 29.08.2008 15 years 28.08.2023 £9,980.82
Wayleave Wayleave Rugeley Tenants Central Networks West 31.07.2008 £2.96
Total: £136,766.06
It should be noted that there are non recoverable running costs of approximately £44,420 which result in a current net annual income of approximately £92,344 per annum. We have not had sight of Lease documentation in respect of the above. Where applicable, copies will be available for inspection within the legal pack.
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 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.

Remote bidding registration