Commercial Property
The property comprises a three storey mid terraced mixed use building, located in a neighbourhood shopping parade on Astwood Road, with a retail ground floor premises currently occupied by an established Barbers shop business with residential accommodation on the upper floors.
The property is located in a prominent position, fronting Astwood Road, which is a main route leading into Worcester City Centre.
Worcester is a major West Midlands City located 30 miles south west of Birmingham, 25 miles to the north of Cheltenham and 26 miles to the north east of Hereford. Motorway access to the City is via junction 7 of the M5 motorway, which is approximately 3 miles from the City Centre, giving direct access to the midland and national motorway networks.
We understand that the property is Freehold, the ground floor is let by way of a 10 year Lease with effect from 8th May 2018 at a rental of £6,000 per annum, there is a provision for a rent review at 9th May 2023.
The flat on the upper floors is let by way of Assured Shorthold Tenancy Agreement, at a rental of £550 per calendar month, inclusive of electricity (£6,600 per annum).
Copies of these agreements will be available for inspection within the Legal Pack.
Ground Floor Front Waiting Room - 111 sq.ft. (10.32 sq.m.)
Retail Area - 161 sq.ft. (14.99 sq.m.)
Rear Store - 91 sq.ft. (8.50 sq.m.)
Flat above comprises Entrance, First Floor - Kitchen/Dining Area, Living Room, Bathroom.
Second Floor - Bedroom.
Please refer to the Legal Pack.
Strictly by arrangement with the Auctioneers.
GJS Dillon
Freehold. Commercial investment.
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.
