Let to Salvation Army Trading Company Limited until 2020
Prominent corner position on a prime pedestrianised thoroughfare with a return frontage on to Cowl Street
Residential Redevelopment Potential (subject to consents)
Immediately opposite the Riverside Shopping Centre with nearby occupiers including Sports Direct, Boots the Chemist, Costa and Halifax Bank
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 29
Auction 11th February 2016
Rent £25,000 per Annum Exclusive
Status Sold
Price £395,000
Sector High Street Retail
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Joint LPA Receivers Savills
Property Information
Location
Miles
16 miles south-east of Worcester, 17 miles north-east of Cheltenham, 30 miles south of Birmingham
Roads
A44, A46, M5 (Junction 9)
Rail
Evesham Railway Station
Air
Birmingham International Airport
Situation
The property is situated in a prominent corner location on the eastern side of pedestrianised Bridge Street, with a return frontage on to Cowl Street and opposite to the Riverside Shopping Centre. Nearby occupiers include Sports Direct, Boots the Chemist, Costa and Halifax Bank.
Tenure
Freehold.
Location
Miles
16 miles south-east of Worcester, 17 miles north-east of Cheltenham, 30 miles south of Birmingham
Roads
A44, A46, M5 (Junction 9)
Rail
Evesham Railway Station
Air
Birmingham International Airport
Situation
The property is situated in a prominent corner location on the eastern side of pedestrianised Bridge Street, with a return frontage on to Cowl Street and opposite to the Riverside Shopping Centre. Nearby occupiers include Sports Direct, Boots the Chemist, Costa and Halifax Bank.
Tenure
Freehold.
Description
The property comprises retail and extensive ancillary warehouse accommodation on the ground floor with ancillary accommodation on the first and second floors. The property benefits from access off Cowl Street and may benefit from potential residential redevelopment of the rear warehouse, subject to consents.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises retail and extensive ancillary warehouse accommodation on the ground floor with ancillary accommodation on the first and second floors. The property benefits from access off Cowl Street and may benefit from potential residential redevelopment of the rear warehouse, subject to consents.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground First Second
Retail Ancillary Ancillary
281.20 sq m 47.70 sq m 50.00 sq m
(3,027 sq ft) (513 sq ft) (538 sq ft)
SALVATION ARMY TRADING COMPANY LIMITED (1)
10 years from 23/07/2010 (2)
£25,000
23/07/2015 (3) (22/07/2020)
Totals
378.90 sq m
(4,078 sq ft)
£25,000
(1) For the year ending 31st March 2014, Salvation Army Trading Company Limited reported a turnover of £46,309,125, pre-tax profits of £3,958,629 and a total net worth of £6,707,888. (Source: www.riskdisk.com 14/12/2015) The Salvation Army has approximately 50,000 members and 4,000 employees in the UK and Republic of Ireland and is part of the wider International Salvation Army which operates in 127 countries. (Source: www.salvationarmy.org.uk) (2) The lease is outside of the security of tenure provisions of the Landlord & Tenant Act 1954. (3) The 2015 review remains outstanding.
