50-51 Worcester Street, Kidderminster, DY10 1EN
Town Centre Mixed Use Investment Opportunity in Kidderminster
Guide price*
£350,000+
Plus fees
Withdrawn
Lot information
Commercial Investment
Auction details:
Wednesday 24th June 2020 @ 09:30AM
Live-streamed Auction
A Freehold Town Centre Mixed Use Investment Opportunity, comprising 4 flats and ground floor offices, considered suitable for conversion to provide 2 further flats, subject to obtaining any appropriate planning permission Estimated Full Rental Income: £40,800 p.a.
Property Description
The property comprises an attractive three storey detached building of brick construction with a pitched tiled roof. The accommodation is currently configured to provide 4 self-contained flats. Flat 1 - Hall, Lounge/Kitchen, Two Bedrooms and Bathroom. Flat 2 - Hall, Lounge/Kitchen, Three Bedrooms and Shower Room. Flat 3 - Lounge/Kitchen, Two Bedrooms and Shower Room. Flat 4 - Lounge/Kitchen, Three Bedrooms and Bathroom. On the ground floor there are former office premises comprising four rooms, stores and kitchen. The ground floor accommodation is considered suitable for conversion to provide 2 further one bedroom flats and outside there is the opportunity to create a communal courtyard, stores and cycle store, subject to obtaining the appropriate planning permission.Location
The property occupies a prominent position fronting the southern side of Worcester Street, just off the A451 St Marys Ringway, within the heart of Kidderminster Town Centre, being close to all local shopping and leisure amenities and within close proximity of Kidderminster Hospital and Kidderminster College.Kidderminster lies approximately 17 miles south west of Birmingham and 15 miles north of Worcester.
Energy Performance Rating
See legal pack.Tenure
The property is Freehold, subject to the following:-Flat 1: Let by way of an Assured Shorthold Tenancy for a term of six months, with effect from 22nd April 2020, at a rental figure of £575 per calendar month, (£6,900 per annum)
Flat 2: Vacant - Estimated rental value £650 per calendar month.
Flat 3: Vacant - Estimated rental value £550 per calendar month.
Flat 4: Let by way of an Assured Shorthold Tenancy, for a term of six months, with effect from 29th May 2020, at a rental figure of £675 per calendar month, (£8,100 per annum)
The ground floor is vacant, having the potential to create 2 one bedroom flats, each having an estimated rental value of £475 per calendar month.
Value Added Tax
We understand that VAT is not chargeable on this transaction.Remote Bidding Auction
This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.Viewings
Strictly by appointment with the Auctioneers.DISCLAIMER
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
LIVE-STREAMED AUCTION
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £1,920 inc VAT (£1,600.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
