4-12 Brewery Street, Rugeley, Staffordshire, WS15 2DY

A town centre mixed use investment opportunity in Rugeley

Guide price*

£460,000+

Plus fees

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Lot 121 Commercial Investment
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Auction details:

Thursday 16th May 2024 @ 08:30AM

A Freehold Town Centre Mixed Use Investment Opportunity Comprising A Parade Of Five Retail Units And Four Vacant Self Contained Flats Above Current Rental Income £34,000 PA Estimated Full Rental Value £65,200 PA

Property Description

The property comprises a purpose built parade of 5 self contained retail units each comprising a main retail area with ancillary store, WC and rear loading, with 4 good sized flats above having separate communal entrance from pavement level. Two of the flats front Brewery Street each comprising generous sized accommodation of living room/kitchen, double bedroom and bathroom, whilst two further flats at the rear have similar accommodation but also benefit from a balcony.

Location

The property occupies a prominent position immediately adjacent to the Brewery Street shopping centre within the pedestrianied retail core of Rugeley town centre.
Within the vicinity there is a good mix of local and national operators including Greggs, Boots, Nationwide, Coral, Specsavers, Costa, Lloyds Bank and Morrisons supermarket. The area is well served with pay and display car parking.
Rugeley is a popular market town lying on the northern edge of Cannock Chase, and lies approximately 8 miles north of Lichfield and 10 miles south east of Stafford.

Energy Performance Rating

See legal pack.

Council Tax Band

Flats 1-4- A

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

Please note offers may be considered prior to the Auction Sale.

Viewings

Strictly by appointment with the Auctioneers.

Accommodation / Tenancy Details

Demise Area (sq.ft.) Tenant Term Rent PA ERV Comments
Unit Use Unit Size Lease Start Lease End Annual Rent Estimated Rent
Unit 4 Retail 499 sq. ft 01/11/2020 31/10/2023 £5,300 PA
Unit 6 Retail 540 sq. ft 01/09/2023 31/08/2026 £5,633 PA
Unit 8 Retail 421 sq. ft 01/01/2020 31/12/2022 £5,417 PA
Unit 10 Retail 520 sq. ft 01/07/2012 30/06/2024 £10,650 PA
Unit 12 Retail 497 sq. ft 15/04/2021 14/04/2024 £7,000 PA
Flat 1 Residential Vacant £7,800 PA
Flat 2 Residential Vacant £7,800 PA
Flat 3 Residential Vacant £7,800 PA
Flat 4 Residential Vacant £7,800 PA
We have not undertaken a measured survey of the premises, all interested parties should seek their own verification of sizes and dimensions. We have not had sight of the lease documentation, copies will be available within the legal pack.
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.

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