Barracks Road Trading Estate, Llewellyn Close, Stourport on Severn, DY13 9QB
Multi-Let Industrial Investment in Stourport on Severn
Guide price*
£500,000+
Plus fees
Unsold, please refer to Auctioneer
Lot information
Commercial Investment
Auction details:
Wednesday 23rd October 2019 @ 10:30AM
Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE
A Multi-Let Industrial Investment comprising Eight Starter Units within an Established Commercial Location Current Rental Income: £46,200 pa. Estimated Full Rental Value: £53,418 pa.
Property Description
The property comprises a terrace of eight starter units of steel portal framed construction and having brick profile metal sheet elevations. The roofs have profile sheet coverings and the units have an eaves height of approximately 4.25 metres. Internally the units have an amenity block and a single roller shutter loading door. There are parking and yard areas to the front of each unit. There is currently one vacant unit.Location
The subject property lies on the popular and well established Sandy Lane Industrial Estate, which is the principle industrial area of the town, lying approximately 1½ miles south east of the historic town centre of Stourport, off the A4025 Worcester Road.Barracks Lane Trading Estate lies on the corner of Barracks Road and Llewellyn Close.
Stourport on Severn is located 25 miles south west of Birmingham, approximately 11 miles north of Worcester and 4 miles south of Kidderminster. The town's main arterial road is the A451 which runs north to Kidderminster. A4025 leads south east from the town and links to the A449 which provides direct access to Worcester. Access to the motorway network is via junction 5 of the M5 motorway, approximately 10 miles south east, while junction 4 is a similar distance to the east.
Energy Performance Rating
Unit 1 - E, Unit 2 - D, Unit 3 - D, Unit 4 - D, Unit 5 - D, Unit 6 - D, Unit 7 - D & Unit 8 - D.Tenure
The property is Long Leasehold for a term of 125 years, with effect from 16th June 1998, at a peppercorn rent and subject to the tenancies below.Value Added Tax
We understand that VAT is chargeable on this transaction, the intention would be to sell as a TOGC. Full details will be available within the legal pack.Auctioneers Note
The properties extend in total to 9,665 sq.ft. (898 sq.m.). The site extends to approximately 0.56 acres (0.23 hectares) or thereabouts.The ERV when fully let is £53,418.
Copies of the Leases will be available for inspection within the legal pack.
Viewings
Strictly by appointment with the Auctioneers.Tenancy Details
| Unit | Term | Rent | Tenant | Comments |
|---|---|---|---|---|
| UNIT | TENANT | FLOOR AREA | LEASE | RENT/ERV PA. |
| 1 | Roy Neale | 1,223 sq.ft. | 5 years with effect from 24th January 2018. Break 24th July 2020. | £6,500 |
| 2 | Blu's Raw Dog Food | 1,203 sq.ft. | New Lease for 5 years. | £6,500 |
| 3 | DK Tuning South Midlands Ltd | 1,190 sq.ft. | 6 years with effect from 4th June 2019. Break 4th July 2022. | £7,200 |
| 4 | Rees Construction Ltd | 1,206 sq.ft. | 5 years with effect from 21st August 2019. Breaks at 21st August 2020, 2021, 2022 & 2023. | £7,500 |
| 5 | Vacant | 1,203 sq.ft. | - | £7,218 |
| 6 | Progressive Framing Services Ltd | 1,205 sq.ft. | 5 years with effect from 14th September 2016. | £5,500 |
| 7 | PPS Labels (Progressive) Ltd | 1,218 sq.ft. | 5 years with effect from 14th September 2016. | £5,500 |
| 8 | The Pet Store | 1,217 sq.ft. | 5 years with effect from 31st May 2019. Break 31st November 2019 & 31st May 2021. | £7,500 |
| Total: | 9,665 sq.ft. | Total: Total EFRV: |
£46,200 £53,418 |
|
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.
