1-7 Market Street, Tenbury Wells, Worcestershire, WR15 8BH

Freehold town centre investment property in Tenbury Wells

Guide price*


Plus fees

Sold for £140,000

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Lot 80 Commercial Investment
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Auction details:

Thursday 19th May 2022 @ 09:00AM

Live-streamed Auction

A Prominent Town Centre Freehold Investment Comprising Three Retail Units And Office. The Uppers Comprise Six Flats Which Have Been Sold Long Leasehold, The Freeholder Receives An Annual Ground Rent And Service Charge From Each. Current Rental Income £12,325 PA

Property Description

The property comprises a prominent three storey end of terrace, corner property of brick construction surmounted by a pitched tiled roof. The property is configured to provide three retail units and an office on the ground floor. On the uppers there are six flats which have been sold subject to long leaseholds, the freeholder benefits from receiving an annual ground rent and service charge from each flat.


The property occupies a prominent corner position and the junction of Market Street, Teme Road and the B4204. Kyre Brook runs to the rear of the property.
Tenbury Wells is an attractive and popular ancient market town on the Worcestershire, Shropshire and Herefordshire borders.
The town has a wide range of independent shops, pubs, restaurants and coffee shops and is a popular tourist destination.

Energy Performance Rating

1- G
3- C
5- B
7- C

Council Tax Band

All Flats - A


The property is freehold subject to the following tenancies.

Value Added Tax

We understand that VAT is not chargeable 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.


Strictly by appointment with the Auctioneers.

Tenancy Details

Unit Term Rent Tenant Comments
Ground Floor
Unit Tenant Term Annual Rent
1 Market Street Little Meadow Animal Rescue Charity Let by way of a five year lease expiring in October 2023. £4,200 per annum
3 Market Street Garlands Flowers Let by way of a new lease with effect from 14th April 2022 expiring on 18th July 2025 £2,000 per annum
5 Market Street Mr Bens Barbers The tenant is holding over £2,250 per annum
7 Market Street Garlands Flowers Let by way of a three year lease expiring in July 2022 £3,750 per annum- a new lease has been signed by the tenant to commence on 19th July 2022 expiring on 18th July 2025. Rental from July 2022 is £4,000.
Upper Floors- 6 Residential Units
Flat 1 Lease expires 2084 Current ground rent £25 per annum (service charge £795.80 per annum)
Flat 2 Lease expires 2084 Current ground rent £25 per annum (service charge £795.80 per annum)
Flat 3 Lease expires 2084 Current ground rent £25 per annum (service charge £795.80 per annum)
Flat 4 Lease expires 2084 Current ground rent £25 per annum (service charge £795.80 per annum)
Flat 5 Lease has been extended for 189 years with effect from 1985 At a peppercorn rent (service charge £795.80 per annum)
Flat 6 Lease expires 2084 Current ground rent £25 per annum (service charge £795.80 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.


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.


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.


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.

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