Commercial Property
The property comprises a substantial and attractive corner property, which is currently configured to provide on the ground floor a self-contained retail unit, whilst on the first floor there are five rooms, WC and kitchen, with two further rooms on the second floor. The upper floors are considered suitable for conversion to residential uses, subject to obtaining any appropriate planning permission.
The property occupies a prominent position at the corner of Bromsgrove High Street and New Road, close to local occupiers such as Pizza Express, Thomson, Betfred, Holland & Barratt and the West Bromwich Building Society.
Bromsgrove Town Centre is situated approximtely 13 miles to the south west of Birmingham, 12 miles to the north of Worcester and 7 miles to the west of Redditch. The town benefits from excellent motorway access with junction 1 of the M42 and junction 4 of the M5 motorways being within approximately 3 miles of the town centre and junction 5 of the M5 motorway being approximately 4 miles distant.
We understand that the property is Freehold, the ground floor is subject to a Lease to Eyedeal for a term of 10 years with effect from 28th March 2013, at a current rental of £16,000 per annum, rising to £18,000 per annum in March 2018.
We have not had sight of the legal documentation relating to this, however a copy of the Lease will be available for inspection within the legal pack.
Vacant possession will be given upon completion in respect of the first and second floors.
We understand that VAT is not chargeable on this transaction.
Strictly by arrangement with the Auctioneers.
Freehold. Part let/part vacant.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.