6-8 Church Street, Bromsgrove, B61 8DD

Freehold Fully Let Retail Investment Property in Bromsgrove

Guide price*

£225,000+

Plus fees

Sold for £286,000

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Lot 74 Commercial Investment
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Auction details:

Thursday 15th September 2022 @ 09:30AM

Live-streamed auction, you must pre-register to bid via our website with remote bidding online, by telephone or proxy

A Freehold Fully Let retail Investment Opportunity Current Gross Income: £23,500 pa

Property Description

The property comprises a parade of two ground floor shops and a further part ground and first floor office in a prominent town centre location. The combined properties extend to 1,323 sq. ft. ( 122.95 sq m) or thereabouts and are all fully let. Each unit comprises of self-contained commercial office or retail space with further staff and ancillary accommodation.

Location

The property occupies a prominent trading position along Church Street which feeds directly off the main High Street in Bromsgrove Town Centre.
Bromsgrove is a prosperous and busy Worcestershire market town situated approximately 15 miles south west of Birmingham and 14 miles to the north east of Worcester. The town has excellent road communications being situated 2 miles from junction 1 of the M42 motorway and junction 4 of the M5 motorway. Bromsgrove’s railway station has recently been upgraded to provide a new interchange and provides fast and frequent trains to Birmingham New Street, Worcester, Hereford and Cheltenham.

Energy Performance Rating

E.

Tenure

Freehold – Subject to the existing tenancies.

Value Added Tax

We are advised that VAT is not applicable 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.

Tenant Profile

Macintyre Charity - registered charity (number 250840) providing Registered Care and Supported Living support for adults with learning disabilities. ( www.macintyrecharity.org)
K Bassam Jewellers – Family owned and run Jewellers trading since 1991. Operating from three locations at Stourbridge, Bromsgrove & Kidderminster.
Nhance Beauty – Aesthetics, permanent makeup and beauty specialists.

Viewings

Strictly by appointment with the Auctioneers.

Tenancy

Room Term Rental
Tenant Term Rental PA
Macintyre Charity 5 years from 1st March 2019, expiring 29th February 2024 £8,000.00
K Bassam Jewellers 5 years from 24th June 2015, expiring 23rd June 2020 (holding over) £8,500.00
N Hance 3 years from 10th July 2019, expiring 9th July 2022 (holding over) £7,000.00
Total Rent: £23,500.00
GJS Dillon
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.

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 £1,680 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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