Barracks Road Trading Estate, Llewellyn Close, Stourport on Severn, DY13 9QB
Multi-Let Industrial Investment in Stourport on Severn
Sold prior to auction, for an undisclosed amount
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 DescriptionThe 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.
LocationThe 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 RatingUnit 1 - E, Unit 2 - D, Unit 3 - D, Unit 4 - D, Unit 5 - D, Unit 6 - D, Unit 7 - D & Unit 8 - D.
TenureThe 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 TaxWe 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 NoteThe 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.
ViewingsStrictly by appointment with the Auctioneers.
|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|
|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|
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.
REMOTE BIDDING AUCTION
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COSTS AT AUCTION
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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.
8 self contained flats, suitable for redevelopment, subject to obtaining the necessary planning consents in West Heath