19-21 Worcester Road, Malvern, WR14 4QY
Freehold Investment and development opportunity in Malvern
Guide price*
£275,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Mixed Use
Residential Investment
Auction details:
Thursday 13th July 2023 @ 09:00AM
An Attractive Freehold Investment and Refurbishment/Development Opportunity within a sought after Town Centre location, having great potential to add value Current Rental Income: £29,400 pa. Estimated Full Rental Value: £55,200 pa.
Property Description
The property comprises an attractive mid terraced character property, arranged over ground, first and second floors, together with a basement. The accommodation is currently configured to provide a self-contained retail unit on the ground floor, let as a nail studio, having rear ancillary areas, kitchen and WCs. The demise of the shop also includes a basement which is accessed separately from a covered side passage. Accessed via a separate entrance to the left hand side, there is a communal entrance giving access to three self-contained flats upon the upper floors. On the first floor is Flat 1, which is currently vacant and in need of full refurbishment and also offers the potential to reconfigure, there is also a vacant office and WC. On the second floor is Flat 2, having well presented accommodation, comprising hall entrance, spacious lounge, kitchen, two double bedroom, separate WC and shower room. On the third floor is Flat 3, providing similar accommodation to flat 2. All of the flats enjoy excellent views over Malvern and the Worcestershire countryside beyond. To the rear and adjoining the main building is a former printing works, over two floors and is considered to offer the potential to provide further living accommodation, subject to obtaining the necessary planning permission and possession of the ground floor.Location
The property occupies a prominent location within the sought after professional and leisure area of the affluent town of Malvern.Occupiers within the immediate vicinity include WH Smith, Ask, HSBC, Santander, The Foley Arms and several independent traders, coffee shops and restaurants, together with several Estate Agents. Also close by are Waitrose, Boots, Costa Coffee and Cafe Nero.
On street parking is available to the front and there are several 'Pay and Display' car parks within close proximity.
Energy Performance Rating
C, E & F.Council Tax Band
Flat 1 & 2 - A, Flat 3 - B.Tenure
Freehold – Subject to the existing tenancies.Value Added Tax
For clarification in respect of whether or not VAT will be chargeable on the purchase price please refer to the Legal Pack.Auctioneer's Note
The Auctioneers have not had sight of the tenancy documentation at the time of going to print and the tenancy details should not be relied upon, however copies will be available within the legal pack.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
| Term | Rental | |
|---|---|---|
| Ground Floor Retail Unit - Trading As Natural Nails: | 10 years Lease with effect from 17th September 2019, subject to a rent review and break clause on 17th September 2024. | |
| Flat 1: | Vacant possession upon completion. | |
| Flat 2: | Let by way of an Assured Shorthold Tenancy, at £650 per calendar month. | |
| Flat 3: | Let by way of an Assured Shorthold Tenancy, at £550 per calendar month. | |
| Former Print Works: | Vacant possession upon completion. | |
| Total Income: | £29,400 pa. | |
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 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.
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 £1,920 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.
