1 - 12 Tower Buildings Blackwell Street Kidderminster Worcestershire DY10 2DY

1 - 12 Tower Buildings
Blackwell Street
Kidderminster
Worcestershire
DY10 2DY

Unbroken Freehold Retail Parade with Planning for Significant Development/Change of Use on Upper Floors

  • Parade of 12 shops on the ground floor (including former nightclub reception)
  • Tenants include Domino’s Pizza, Betfred and William Hill
  • Substantial self-contained upper parts with recent full planning permission and prior approval granted to convert to 39 residential units
  • Potential to add and plans drawn up for further floor (subject to planning) - see adjacent Rowland Hill House (43 newly developed apartments)
  • Town centre location opposite Swan Walk Shopping Centre and major car park and walking distance to Weavers Wharf Shopping Centre and Kidderminster Railway Station
  • Of interest to investors and developers
  • Lot
    31
  • Auction
    24th May 2018
  • Rent
    £102,650 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,035,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Unbroken Freehold Retail Parade with Planning for Significant Development/Change of Use on Upper Floors

  • Parade of 12 shops on the ground floor (including former nightclub reception)
  • Tenants include Domino’s Pizza, Betfred and William Hill
  • Substantial self-contained upper parts with recent full planning permission and prior approval granted to convert to 39 residential units
  • Potential to add and plans drawn up for further floor (subject to planning) - see adjacent Rowland Hill House (43 newly developed apartments)
  • Town centre location opposite Swan Walk Shopping Centre and major car park and walking distance to Weavers Wharf Shopping Centre and Kidderminster Railway Station
  • Of interest to investors and developers
  • Lot 31
  • Auction 24th May 2018
  • Rent
  • Status Sold
  • Price £1,035,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
15 miles north of Worcester, 17 miles south-west of Birmingham
Roads
A448, A456, M5, M42
Rail
Kidderminster Railway Station
Air
Birmingham Airport
Situation

The property occupies a prominent corner position on the eastern side of Blackwell Street at its corner with Coventry Street, close to the pedestrianised section of Kidderminster town centre. High Street, Weavers Wharf Shopping Centre and Kidderminster Railway Station are all within walking distance. Crossley Retail Park is less than 500m away, with
tenants including Sainsbury’s Supermarket, Halfords and Costa. The Swan Shopping Centre is opposite the property, with tenants including B&M Bargains, Heron Foods and a major 370 space public car park.

Tenure

Freehold.

Location
Miles
15 miles north of Worcester, 17 miles south-west of Birmingham
Roads
A448, A456, M5, M42
Rail
Kidderminster Railway Station
Air
Birmingham Airport
Situation

The property occupies a prominent corner position on the eastern side of Blackwell Street at its corner with Coventry Street, close to the pedestrianised section of Kidderminster town centre. High Street, Weavers Wharf Shopping Centre and Kidderminster Railway Station are all within walking distance. Crossley Retail Park is less than 500m away, with
tenants including Sainsbury’s Supermarket, Halfords and Costa. The Swan Shopping Centre is opposite the property, with tenants including B&M Bargains, Heron Foods and a major 370 space public car park.

Tenure

Freehold.

Description

The property comprises an unbroken ground floor (and part first floor) retail parade, with a self-contained former nightclub and office accommodation on the first floor and former office accommodation on the second floor (see ‘Planning’). The property benefits from undercroft car parking for about 18 cars.

VAT

VAT is not applicable to this lot.

Planning

Full Planning Permission was granted on 24th April 2018 for the conversion of the former nightclub and part office accommodation into 17 residential apartments (8 x 1 bedroom, 9 x studios) (17/0760/FULL). Prior Approval was granted on 16th October 2017 for the conversion of further accommodation on the upper floors to provide 22 residential apartments (16 x 1 bedroom, 6 x studios) (17/3051/PNRES). For further information: Wyre Forest District Council, Wyre Forest House, Finepoint Way, Kidderminster, Worcestershire, DY11 7WF. T: 01562 732928. Website: www.wyreforestdc.gov.uk.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises an unbroken ground floor (and part first floor) retail parade, with a self-contained former nightclub and office accommodation on the first floor and former office accommodation on the second floor (see ‘Planning’). The property benefits from undercroft car parking for about 18 cars.

VAT

VAT is not applicable to this lot.

Planning

Full Planning Permission was granted on 24th April 2018 for the conversion of the former nightclub and part office accommodation into 17 residential apartments (8 x 1 bedroom, 9 x studios) (17/0760/FULL). Prior Approval was granted on 16th October 2017 for the conversion of further accommodation on the upper floors to provide 22 residential apartments (16 x 1 bedroom, 6 x studios) (17/3051/PNRES). For further information: Wyre Forest District Council, Wyre Forest House, Finepoint Way, Kidderminster, Worcestershire, DY11 7WF. T: 01562 732928. Website: www.wyreforestdc.gov.uk.

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
1 Ground
Part First
Restaurant/Ancillary
Ancillary
154.30 sq m
40.50 sq m
(1,661 sq ft)
(436 sq ft)
S MIAH
t/a Bombay
Blue
Restaurant
15 years from
01/04/2003 until
31/03/2018
(holding over)
(1)
£13,500
2 Ground Retail/Ancillary
161.90 sq m
(1,743 sq ft)
DP REALTY LIMITED
(2)
t/a Domino’s
Pizza
15 years from
27/11/2003 until
26/11/2018 (3)
£13,500
3 Ground Retail/Ancillary
143.10 sq m
(1,540 sq ft)
CAMEC LIMITED (4)
t/a William
Hill
20 years from
21/10/1998 until
20/10/2018
£13,000
4 Ground
Part First
Reception/Entrance
Former
Nightclub
61.40 sq m
687.70 sq m
(661 sq ft)
(7,402 sq ft)
VACANT - -
5 Ground
Part First
Retail
Ancillary
80.00 sq m
22.30 sq m
(861 sq ft)
(240 sq ft)
B. & I. RALLEY
t/a Hair Tec
5 years from
25/03/2008 until
24/03/2013
(holding over)
£13,500
6 Ground
Mezzanine
Part First
Retail/Ancillary
Ancillary
Offices/Ancillary
71.90 sq m
24.70 sq m
123.40 sq m
(774 sq ft)
(266 sq ft)
(1,328 sq ft)
VACANT - -
7/8 Ground
Mezzanine
Part First
Retail/Ancillary
Ancillary
Ancillary
159.30 sq m
15.20 sq m
7.90 sq m
(1,715 sq ft)
(164 sq ft)
(85 sq ft)
VACANT - -
9 Ground
Part First
Retail
Flat - 2 bedrooms
66.80 sq m
-
(719 sq ft)
(-)
PCP ENTERPRISES
LIMITED
t/a Town Fryer Fish and
Chips
15 years from
29/09/2001 until
28/09/2016
(holding over)
(5)
£14,550
10/11 Ground Retail/Ancillary
109.00 sq m
(1,173 sq ft)
DONE BROTHERS
(CASH) BETTING
LIMITED
(6) t/a Betfred
15 years from
14/02/2006 until
15/02/2021
£22,000
12 Ground
First
Retail/Ancillary
Salon/Offices/
Ancillary (sub-let)
29.50 sq m
78.97 sq m
(318 sq ft)
(850 sq ft)
K.P.
WILLIAMS
t/a K Bassam Jewellery
Services
15 years from
14/02/2006 until
15/02/2021
£12,600
  Part First

Second
See
“Planning”
1,095.11 sq m
(7)
1,090.92 sq m
(7)
(11,788 sq ft)
(7)
(11,743 sq ft)
(7)
VACANT - See
“Planning”
See “Planning” -
Total  
4,251.75 sq m
(45,467 sq ft)
    £102,650

(1) The tenant has requested a new 15 year lease (no breaks) at the same rent.
(2) For the year ending 25th December 2016, DP Realty Limited reported a turnover of £22,479,000, pre-tax profits of £2,133,000 and a total net worth of £3,355,000 (Source: Experian Group 26/04/2018).
(3) DP Realty Limited have requested a new 20 year lease with a tenant option to determine on the 12th anniversary of term commencement. The tenant sublets to a franchisee.
(4) For the year ending 27th December 2016, Camec Limited reported a total net worth of £45,610,141 (Source: Experian Group 26/04/2018).
(5) The tenant has requested a new 15 year lease (no breaks) at the same rent.
(6) For the year ending 25th December 2016, Done Brothers (Cash) Betting Limited reported a turnover of £320,065,000, pre-tax profits of £29,293,000 and a total net worth of £23,115,000 (Source: Experian Group 26/04/2018).
(7) Approximate Gross Internal Areas.

Property Documents

  • Catalogue Page
    Updated Date
    28.10.19
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    28.10.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Fladgate LLP 16 Great Queen Street
London
WC2B 5DG
Gavriel Cohen 0203 036 7250gcohen@fladgate.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now