Commercial Property
False
The property occupies a prominent position fronting Barnards Green Road. Barnards Green is a thriving local retail and commercial area situated approximately 1 mile from Great Malvern town centre. It has a mix of well known national and local retailers including Co-operative Supermarket, Lloyds Bank, Subway, mixed with a local café, delicatessen, cheese shop, bakery, professional offices, hair and beauty salons and gift shops and art studios.
Barnards Green local attractions include the Malvern Hills, The Three Counties Showground, Malvern Science Park and Morgan Cars all of which lie no more than 1 mile from the property.
The property comprises a spacious three storey brick-built building, with a well presented double fronted mid terraced retail unit on the ground floor having large glazed display frontage, modern open-plan sales area with storage, staff area and WC facilities to the rear. The retail unit extends to approximately 1,474 sq.ft. (136.99 sq.m.) it was most recently used as a local convenience store, but is considered suitable for a wide variety of other retail uses subject to obtaining any necessary planning permission.
On the upper floors and with each having their own self-contained access are two flats in need of complete refurbishment, but having great potential to create attractive residential investments in this popular location.
Flat 1 briefly comprises - First Floor, landing, living room, dining room, bathroom, kitchen. Second Floor, landing, two double bedrooms.
Flat 2 briefly comprises a ground floor lobby/utility area, first floor landing, living room, dining room, bathroom, kitchen, second floor landing, two double bedrooms.
Outside and to the rear is a yard area which provides good car parking, there are various brick stores and it is considered that there is potential to enhance the area and possibly develop subject to obtaining appropriate planning permission.
An Attractive Mixed Retail and Residential Investment Opportunity comprising a well presented ground floor Retail Unit and two spacious self-contained Flats in need of refurbishment. In addition there is income from a telecoms mast to the rear of the property
Current Rent: £7,954 pa
Estimated Full Rental Value: £38,000 pa
We understand that the property is Freehold and vacant possession will be given upon completion.
To the rear of the property there is a telecoms mast let by way of a Lease for a term of 20 years with effect from the 28th October 2005 to Hutchinson 3G UK Limited at a current rent of £7,954 per annum. The Lease provides for a rent review every third year and the next rent review is due in September 2017.
Further details and a copy of the Agreement will be available for inspection within the legal pack.
We understand that VAT will not be charegable on this transaction.
Strictly by arrangement with the Auctioneers.
