28-30 Lowesmoor, Worcester, WR1 2SG
Mixed use investment in Worcester
Sold for £230,000
A Freehold Fully Let Mixed Use City Centre Investment, comprising a Retail Unit and Four Flats Current Gross Income: £23,160 pa.
Property DescriptionThe property comprises an attractive double (28-30) mid terraced building of brick construction, arranged over ground, first and second floors. On the ground floor there is a retail unit with the uppers providing four flats and to the rear there is a walled yard area. There is considered potential to undertake refurbishment and possible reconfiguration of the uppers, subject to any necessary planning permission. The ground floor comprises a retail unit with treatment room, kitchenette and WC and is well presented throughout. There is a communal lobby area with cellar storage off, flats 1 and 2 are located on the first floor, whilst flats 3 and 4 are on the second floors. We have not had full access to the living accommodation, but the flats are essentially studio/1 bed with some shared bathroom facilities.
LocationThe property is conveniently located fronting Lowesmoor within Worcester City Centre, benefiting from close proximity to all local shopping and leisure amenities and a short walk to Worcester Foregate Street railway station.
Worcester lies approximately 31 miles south west of Birmingham and 27 miles north of Gloucester. Worcester has good links to the national motorway network lying to the west of junction 6 and 7 of the M5 motorway.
Energy Performance RatingSee legal pack.
Value Added TaxVAT may be chargeable, please refer to the legal pack for clarification.
Auctioneer's 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.
ViewingsExternal viewings only.
TenureFreehold – Subject to the following tenancies.
|Retail Unit:||Let by way of a 3 year Lease from 2020, at a rental figure of £6,000 per annum.|
|Flat 1:||Let by way of an Assured Shorthold Tenancy, at a rental figure of £325 per calendar month - £3,900 per annum.|
|Flat 2:||Let by way of an Assured Shorthold Tenancy, at a rental figure of £80 oer week - £4,160 per annum.|
|Flat 3:||Let by way of an Assured Shorthold Tenancy, at a rental figure of £390 per calendar month - £4,680 per annum.|
|Flat 4:||Let by way of an Assured Shorthold Tenancy, at a rental figure of £85 per calendar month - £4,420 per annum.|
|Total Rental Income: £23,160 per annum|
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.
Freehold commercial ground rent in Birmingham being sold of behalf of Birmingham City Council