Retail units with office accommodation on substantial site
Prominent position on busy retailing thoroughfare close to The Rowland Hill Shopping Centre
Asset management/development opportunity (subject to consents)
Nearby occupiers include RBS, Peacocks, and Poundland
Rent of £22,500 p.a.x gross, £4,000 p.a.x net (with 8,872 sq ft offered with Vacant Possession)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 92
Auction 7th July 2016
Rent £22,500 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
14 miles north of Worcester, 7 miles south of Wolverhampton,19 miles south-west of Birmingham
Roads
A448, A456, M5, M42
Rail
Kidderminster Rail
Air
Birmingham Airport
Situation
The property is prominently situated at the eastern side of Worcester Street benefitting from footfall between Kidderminster Rail Station and the prime pedestrianised High Street. The property is located close to The Rowland Hill Shopping Centre which houses retailers including Brighthouse, Claire’s Accessories and Santander. Other nearby occupiers include RBS, Peacocks, and Poundland.
Tenure
Long Leasehold. Held for a term of approximately 125 years and 1 month from 8th February 1965 until 25th March 2090 at a rent of £18,500 p.a.
Location
Miles
14 miles north of Worcester, 7 miles south of Wolverhampton,19 miles south-west of Birmingham
Roads
A448, A456, M5, M42
Rail
Kidderminster Rail
Air
Birmingham Airport
Situation
The property is prominently situated at the eastern side of Worcester Street benefitting from footfall between Kidderminster Rail Station and the prime pedestrianised High Street. The property is located close to The Rowland Hill Shopping Centre which houses retailers including Brighthouse, Claire’s Accessories and Santander. Other nearby occupiers include RBS, Peacocks, and Poundland.
Tenure
Long Leasehold. Held for a term of approximately 125 years and 1 month from 8th February 1965 until 25th March 2090 at a rent of £18,500 p.a.
Description
The property comprises three ground floor retail units with self contained office accommodation at first floor.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises three ground floor retail units with self contained office accommodation at first floor.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
25
Ground First
Retail Ancillary
105.40 sq m 48.50 sq m
(1,134 sq ft) (522 sq ft)
SCOPE (1)
5 years from 26/09/2014
£12,500
25/09/2019
26
Ground First
Retail Ancillary
62.89 sq m 34.33 sq m
(676 sq ft) (369 sq ft)
MIND (2)
10 years from 25/03/2008 (3)
£10,000
24/03/2018
27
Ground First
Retail Ancillary
388.80 sq m 253.20 sq m
(4,185 sq ft) (2,725 sq ft)
VACANT POSSESSION
25-27
First
Offices
182.30 sq m
(1,962 sq ft)
VACANT POSSESSION
Total
1,075.42 sq m
(11,573 sq ft)
£22,500
(1) Scope provide support, information and advice to more than a quarter of a million disabled people and their families every year and operate around 230 charity shops across England and Wales (Source: www.scope.org.uk 08/06/2016) (2) Mind is a mental health charity helping over 375,000 each year and operate around 150 charity shops across the UK (Source: www.mind.org.uk 08/06/2016 (3) The lease provides an option to determine on 25/03/2017.
