Attractive Town Centre Freehold Bank Investment
Stourbridge forms part of the West Midlands conurbation, located 12 miles west of Birmingham city centre, 9 miles south of Wolverhampton and 5 miles south-west of Dudley. The town is located on the A458 which provides access to Birmingham and the M5, 7 miles to the east. The property is situated in the town centre on the western side of High Street, close to its junction with Coventry Street. At the junction of Coventry Street & High Street is a Tesco & Subway. Occupiers nearby include, Halifax, NatWest, Savers, William Hill, Post Office, Caffe Nero, Wilko, Corals & Greggs.
Freehold.
The property comprises a ground floor bank with ancillary accommodation at basement first and second floors.
The property formerly two separate buildings which are now interconnected.
VAT is not applicable to this lot.
The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to Dudley Metropolitan Borough Council - www.dudley.gov.uk
Six Week Completion
See legal pack at www.acuitus.co.uk
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Next Review/ Reversion | |
|---|---|---|---|---|---|---|---|
| Ground Basement First Second | Retail Ancillary Ancillary Ancillary | 273.46 sq m 64.31 sq m 137.63 sq m 70.69 sq m | (2,944 sq ft) (692 sq ft) (1,481 sq ft) (761 sq ft) | LLOYDS BANK PLC (1) | Term of years from 21/09/2010 expiring 23/06/2026 on a full repairing and insuring lease (2) | £59,000 | 24/06/2021 (23/06/2026) |
| Total | 546.09 sq m | (5,878 sq ft) | £59,000 | ||||
(1) For the year ending 31st December 2019, Lloyds Bank Plc reported a turnover of £21,664,000,000, a pre-tax profit of £3,474,000,000 and a total net worth of £34,585,000,000 (Source: NorthRow 25//02/2021)
(2) The 11 year lease from 21/09/2010 was extended in 2019 to expire on 23/06/2026
If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.
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