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Shop
Situated in Kidderminster town centre with nearby occupiers including Royal Bank of Scotland, Peacocks and Cartridge World and with prominent glazed frontage to Worcester Street currently achieving £17,400 per annum.
The premises extends approximately 2820 sq ft net internal area over two stories and has been sectioned off with partition walls by the current tenants to provide music studios and various offices over the two floors.
We noted to the ground floor a reception area beyond which were seven music studios all accessed via a central corridor. The first floor is accessed via a metal internal staircase at the front of the ground floor. The first floor comprised five offices along with WC and kitchen facilities to the rear.
We are advised by the seller that the property is held under two separate tenancies on the Ground floor and first floor.
The first floor we are advised paid £700 per calendar month (£8,400 per annum).
The ground floor pays £750 per calendar month (£9,000 per annum).
We advise interested parties to inspect the legal pack for more information available from the advert on the SDL auctions website.
These sales details are awaiting vendor approval.
Freehold. Subject to lease.
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 Variable Fee (England and Wales).
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 auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyers 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 Price
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.
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