21 & 21a Lower Brook Street, Rugeley, Staffordshire, WS15 2BZ
Pair of mid terraced retail units in Rugeley
Guide price*
£150,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Wednesday 27th March 2024 @ 08:30AM
A Pair Of Mid Terraced Retail Units Within A Busy Town Centre Trading Position With Uppers Suitable For Future Conversion To Residential Uses Subject To Planning Permission Current Rental Income £16,500 PA
Property Description
The property comprises a pair of ground floor mid terraced retail units with two upper floors which have been unused for many years but are considered to offer the potential for future residential conversion subject to obtaining the necessary planning permission. The freehold includes the rear yard with vehicle access across neighbouring land. 21 Lower Brook Street is occupied by Wrights a bakery and cake shop and 21a by Max Spielmann a photographic shop. Both are well presented having modern trading areas, ancillaries and WC's. The upper floors which have not been used for many years require renovation and the installation of stairway access and comprise five void areas on the first floor and further potential accommodation on the second floor. We have not undertaken an inspection of the void areas.Location
The property occupies a prominent position fronting the pedestrianised Lower Brook Street in the main retail core of Rugeley town centre.There is an excellent mix of local traders, with national operators including Greggs, BetFred, Nationwide, Coral, Lloyds Bank, Costa and Specsavers.
Energy Performance Rating
21- D21a- C
Tenure
Freehold – Subject to the following tenancies.21: Let by way of a 6 year lease to Wrights Pies (Shelton) Limited with effect from 25/12/2018 at a passing rent of £8,500 per annum.
21a: Let by way of a 5 year lease to Max Spielman Limited with effect from 1/12/2020 at a passing rent of £8,000 per annum.
We have not had sight of the lease agreements however, copies will be available within the legal pack.
Value Added Tax
We understand VAT is not chargeable on this transaction.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.Viewings
Strictly by appointment with the Auctioneers.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.
