66 Oxford Street
Kidderminster
Worcestershire
DY10 1BL

Freehold Bank and Retail Investment

  • Bank let to Barclays Bank Plc until 2026 (no breaks)
  • Café let to Welland Retail Limited until 2025 (Subject to option)
  • Located in the heart of the Town Centre
  • Close to Weavers Wharf Shopping Centre with occupiers including JD Sports, Marks and Spencer, Holland & Barrett, Boots, Sports direct and TK Maxx
  • Lot
    25
  • Auction
    16/Jun/2021
  • Rent
    £55,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £550,000 - £575,000
  • Sector
    Bank
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees
  • 66 Oxford Street<br>Kidderminster<br>Worcestershire<br>DY10 1BL
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  • Photos
  • Map

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

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 Railway Station
Air
Birmingham International Airport
Situation

The property is located on a prominent corner position at the junction of Exchange Street and Oxford Street, opposite the town hall in the heart of Kidderminster Town Centre. The modern Weavers Wharf Shopping Centre is situated some 150 west which includes occupiers such as JD Sports, Marks and Spencer, Holland & Barrett, Boots, Sports direct and TK Maxx.

Tenure

Freehold.

Description

The property comprises a traditional bank building, comprising ground floor Banking hall, first, second and third floor ancillary accommodation. In addition there is a two storey building fronting Exchange Street comprising ground floor retail / café accommodation and first floor ancillary accommodation and may be suitable for alternative uses such as offices or residential conversion, subject to consents.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

UnitFloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
66 Oxford
Street
Ground
First
Second
Third
Bank
208.80 sq m
183.10 sq m
107.40 sq m
100.00 sq m
(2,247 sq ft)
(1,971 sq ft)
(1,156 sq ft)
(1,076 sq ft)
BARCLAYS
BANK PLC (1)
20 years from
22/06/2006 until
21/06/2026 (4)
£40,00025/03/2023
1 Exchange
Street
Ground
First
Café
103.40 sq m
104.45 sq m
(1,114 sq ft)
(1,124 sq ft)
WELLAND
RETAIL LIMITED
t/a Rees Café
6 years from
12/02/2019 until
11/02/2025 (2)
£15,000 
Total
807.15 sq m
(8,688 sq ft) (3)
  £55,000 

(1) For the year ending 31st December 2019, Barclays Bank Plc reported a turnover of £20,321,000,000, a pre-tax profit of £3,112,000,000 and shareholder funds of £50,615,000,000 (Source: NorthRow 18/05/2021).
(2) As to the 1 Exchange Street, the lease provides for a tenant option to determine the lease on 12/02/2022. The tenant has verbally indicated that they would like to assign the lease, but no formal application has been made.
(3) The floor areas stated above have been taken from the Valuation Office Agency website. www.voa.gov.uk
(4) As to the lease to Barclays Bank plc the Seller has served an interim schedule of dilapidations, a copy of which is available in he Legal Pack.

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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    10.06.21
    File Size
    24 MB
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  • Catalogue Page
    Updated Date
    27.05.21
    File Size
    596 KB
    View PDF
  • Site Plan
    Updated Date
    27.05.21
    File Size
    738 KB
    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
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Bradley Haynes Law
Lisa Johnson 01905 900 919lisa@bradleyhayneslaw.co.uk

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