59 & 59a Church Street, Malvern, Worcestershire, WR14 2AA
Town Centre Commercial Investment with Apartment Above in Malvern
Sold for £225,000
Wednesday 3rd July 2019 @ 10:30AM
Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE
A Freehold Town Centre Retail Investment with former offices above having the benefit of full planning permission to provide an attractive and spacious two bedroom apartment
Property DescriptionThe property comprises a spacious three storey end of terrace currently providing a retail unit on the ground floor and former self-contained offices accessed from the rear car park. The former office accommodation comprises a reception office, storage, open-plan office, kitchenette and two further offices over ground, first and second floors. This accommodation benefits from good natural lighting and has the benefit of planning permission to provide an attractive and spacious town centre apartment.
LocationThe subject property is located in the heart of Great Malvern benefitting from a central location within the prime retail area of Church Street and Bellevue Terrace, which benefits from national multiples including Boots, Waitrose, FatFace, Cafe Nero, Costa Coffee, Thomas Cook and a number of high street Banks mixed with local retailers and other professional commercial uses. <0.5mm/>
The well renowned Malvern Theatre, Cinema complex and the Priory Church of St. Mary and St. Michael are all within close proximity. <0.5mm/>
The Malvern urban area has a population of approximately 40,000 with a thriving business community and a high level of tourist visitors. <0.5mm/>
Malvern is situated approximately 9 miles to the south west of Worcester, 26 miles north of Gloucester and 37 miles south west of Birmingham. There are excellent transport links with junction 7 of the M5 motorway and junction 1 of the M50 motorway within a short driving distance. <0.5mm/>
The nearest train station is Great Malvern providing direct services to Birmingham, Worcester, Gloucester, Bristol Temple Meads and London Paddington.
Energy Performance RatingD & E
TenureThe property is Freehold.
59 Church Street - Let by way of a 10 year Lease with effect from the 24th June 2012 to the Shaw Trust Limited, at a rental of £15,000 per annum with an outstanding rent review on the 24th June 2017.
The Shaw Trust have approximately 50 charity shops in England and Wales and have been in occupation of the subject property for more than 15 years.
The Shaw Trust Limited is a substantial covenant with pre-tax profits of £38 million and net assets of £114 million as at the year ending 31st March 2017.
Further details and copy of the Lease will be available for inspection within the Legal Pack.
59a Church Street - Will be available with vacant possession upon completion.
PlanningPlanning Permission was granted by Malvern Hills District Council on the 1st June 2018 for change of use from offices to residential at 59a Church Street under Application No. 18/00391/FUL.
Value Added TaxThis transaction will be treated as a TOGC as such VAT will not be chargebale. For full details all interested parties must refer to the special conditions of sale within the Legal Pack.
ViewingsStrictly by appointment with the Auctioneers.
Please note the viewing below is for the vacant flat.
|Retail Shop||78.78 sq.m.||848 sq.ft.|
|Offices/Residental Ground Floor||49.14 sq.m.||595 sq.ft.|
|First Floor||19.41 sq.m.||209 sq.ft.|
|Second Floor||23.22 sq.m.||250 sq.ft.|
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.
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.