Worthington House 2 Market Street & 4 - 6 Bird Street Lichfield Staffordshire WS13 6LH

  • Worthington House<br>2 Market Street & 4 - 6 Bird Street<br>Lichfield<br>Staffordshire<br>WS13 6LH

Worthington House
2 Market Street & 4 - 6 Bird Street
Lichfield
Staffordshire
WS13 6LH

Freehold Retail and Residential Investment

  • Prominent corner position on prime pedestrianized pitch
  • Three retail units with two one bedroom flats let on ASTs
  • Attractive building in popular cathedral city
  • Nearby occupiers include Subway, New Look, Coral Betting and Iceland
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    18
  • Auction
    16th February 2017
  • Rent
    £67,280 per Annum Exclusive
  • Status
    Sold
  • Price
    £634,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of a Major Fund Manager
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Freehold Retail and Residential Investment

  • Prominent corner position on prime pedestrianized pitch
  • Three retail units with two one bedroom flats let on ASTs
  • Attractive building in popular cathedral city
  • Nearby occupiers include Subway, New Look, Coral Betting and Iceland
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 18
  • Auction 16th February 2017
  • Rent £67,280 per Annum Exclusive
  • Status Sold
  • Price £634,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of a Major Fund Manager

Property Information

Location
Miles
15 miles north of Birmingham, 34 miles west of Leicester
Roads
A51, A38 A5192
Rail
Lichfield City Rail
Air
Birmingham International Airport
Situation

The property, a Grade II listed building, is situated in the popular Cathedral City of Lichfield just 15 miles north of Birmingham City Centre. The property is prominently situated in the City Centre on the pedestrianised retailing thoroughfare of Bird Street opposite its junction with Market Street. Nearby occupiers include Subway, New Look, Coral Betting and Iceland.

Tenure

Freehold.

Location
Miles
15 miles north of Birmingham, 34 miles west of Leicester
Roads
A51, A38 A5192
Rail
Lichfield City Rail
Air
Birmingham International Airport
Situation

The property, a Grade II listed building, is situated in the popular Cathedral City of Lichfield just 15 miles north of Birmingham City Centre. The property is prominently situated in the City Centre on the pedestrianised retailing thoroughfare of Bird Street opposite its junction with Market Street. Nearby occupiers include Subway, New Look, Coral Betting and Iceland.

Tenure

Freehold.

Description

The property comprises three ground floor retail units with two one bed residential flats on first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises three ground floor retail units with two one bed residential flats on first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
2 Market
Street		 Ground
First
Second		 Retail
Office
Office
24.60 sq m
36.80 sq m
37.30 sq m
(264 sq ft)
(396 sq ft)
(401 sq ft)
 P L ENTERPRISES
(CENTRAL)
LIMITED
(t/a La Boutique)		 10 years from
16/09/2014 (1)		 £14,060 16/09/2019
(15/09/2024)
4-4a Ground
Basement (2)
First		 Retail
Ancillary
Ancillary
77.62 sq m
28.04 sq m
14.00 sq m
(835 sq ft)
(301 sq ft)
(150 sq ft)
 INDIVIDUAL
(t/a Kiss XX
Bridalwear)		 6 years from
14/08/2009		 £16,500 (13/08/2015)
4-6 Ground Retail
74 sq m
(796 sq ft)
 INDIVIDUAL
(t/a The Lounge )		 5 years from
01/01/2015 (3)		 £24,000 (31/12/2020)
Flat A First Residential
One Bedroom Flat
 INDIVIDUAL AST from
13/05/2016		 £6,000 (4) (12/11/2017)
Flat B Second Residential
One Bedroom Flat
 INDIVIDUAL AST from
28/08/2015		 £6,720 (4) (27/08/2016)
Total Commercial Area:  
292.36 sq m
(3,143 sq ft)
     £67,280  

(1) The tenant is currently benefitting from a concessionary rent due to expire on 15th June 2017. The Seller has agreed to adjust the completion monies so that the unit effectively produces £14,060 p.a. from completion of the sale. The lease provides a tenant option to determine on 16/09/2019.
(2) The basement of Unit 4-4a is not demised to the tenant within the lease
(3) The lease provides a tenant option to determine on 01/01/2018.
(4) The rent has been annualised.

Contacts

Seller's Solicitors
Eversheds LLP 1 Callaghan Square
Cardiff
CF10 5BT
Gareth Jones 0845 498 7642garethjones@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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