4 Mill Lane, Bromsgrove, Worcestershire, B61 8AG
Retail investment in Bromsgrove
Sold for £127,000.
The property is let by way of a full repairing and insuring lease to The Fresh Flower Company with effect from 05/08/2018 and expiring on 24/03/2024 at a rent of £14,250 per annum.
We understand that the tenant has sublet the property to Toby’s Treats Ltd with effect from April 2021 outside the Landlord & Tenant Act 1954.
We have not had sight of any lease documentation, however full details and copies of the agreements will be available in the legal pack - updated 05/05/2023 @ 14:45
A Freehold Town Centre Retail Investment Current Rent Passing £14,250 PA
Property DescriptionThe property comprises a two storey mid terrace within a parade of similar properties, configured to provide a ground floor retail unit extending to approximately 750sqft (70 sqm) with useful first floor storage and staff area extending to approximately 270sqft (25sqm).
LocationThe premises are well located fronting Mill Lane which serves as the main pedestrian link from the Asda Superstore and the main town centre car park with the High Street, within the vicinity there is a mix of national operators and independent traders.
Bromsgrove is a popular market town situated approximately 13 miles south west of Birmingham and 12 miles north of Worcester. The town enjoys excellent access to the national motorway network with junctions 1 of the M42 and 4 & 5 of the M5 motorways being within close proximity of the town centre.
Energy Performance RatingSee legal pack.
TenureThe property is freehold subject to a full repairing and insuring lease with effect from 05/08/2018 expiring on 24/03/2024 to the Fresh Flower Company and is underlet Toby's Treats Ltd with effect from April 2021, at a rent of £14, 250 per annum.
We have not had sight of the lease documentation, however full details and a copy of the lease will be available for inspection within the legal pack.
Value Added TaxWe understand VAT is applicable on this transaction. For those who are VAT registered, the intention would be treat as a TOGC. Full details will be available within the legal pack.
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.
ViewingsStrictly by appointment with the Auctioneers.
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 include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. 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.
*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 £1,920 inc VAT (£1,600.00 + 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 has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. 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.