Freehold Retail, Workshop, Advertising Hoarding and Taxi Investment
Town centre location
Comprises two shops, seven studio workshops, taxi rank, advertising hoarding and garage
52/53 let to Mary Stevens Hospice Trading Limited (2019 option not exercised)
Asset management opportunity
VAT-free investment
Lot 10
Auction 23rd May 2019
Rent £63,100 per Annum
Status Sold
Price £766,000
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
On Behalf of an Oxford College
Property Information
Location
Miles
12 miles west of Birmingham city centre
9 miles south of Wolverhampton
Roads
A491, M5, M42
Rail
Stourbridge Junction
Air
Birmingham International Airport
Situation
Stourbridge forms part of the West Midlands conurbation, located 12 miles west of Birmingham city centre, 9 miles south of Wolverhampton and 5 miles south-west of Dudley. The town is located on the A458 which provides access to Birmingham and the M5, 7 miles to the east. The property is situated in the town centre on the eastern side of High Street, close to its junction with Coventry Street. The property has frontage to St John's Road.
Tenure
Freehold.
Location
Miles
12 miles west of Birmingham city centre
9 miles south of Wolverhampton
Roads
A491, M5, M42
Rail
Stourbridge Junction
Air
Birmingham International Airport
Situation
Stourbridge forms part of the West Midlands conurbation, located 12 miles west of Birmingham city centre, 9 miles south of Wolverhampton and 5 miles south-west of Dudley. The town is located on the A458 which provides access to Birmingham and the M5, 7 miles to the east. The property is situated in the town centre on the eastern side of High Street, close to its junction with Coventry Street. The property has frontage to St John's Road.
Tenure
Freehold.
Description
The property comprises two ground floor retail units with seven studio workshops to the rear. No. 52/53 High Street benefits from a first floor which oversails 54 High Street. The land at the rear comprises a taxi rank, advertising hoarding and a garage.
VAT
VAT is not applicable to this lot.
EPC
Available from the legal pack at acuitus.co.uk
Description
The property comprises two ground floor retail units with seven studio workshops to the rear. No. 52/53 High Street benefits from a first floor which oversails 54 High Street. The land at the rear comprises a taxi rank, advertising hoarding and a garage.
VAT
VAT is not applicable to this lot.
EPC
Available from the legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground First
Retail Ancillary
300 sq m 322 sq m
(3,219 sq ft) (3,473 sq ft)
MARY STEVENS HOSPICE TRADING LIMITED (1)
6 years from 29/09/2016 (2)
£32,500
29/09/2019 (28/09/2022)
Ground
Retail
55 sq m
(594 sq ft)
CLOTHING 4 LIMITED t/a School Shop (3)
6 years from 9/06/2017 (4)
£12,000
2020 (2023)
Ground
Workshop Studios 1-7
289 sq m
(3,111 sq ft)
INDIVIDUALS
Various Licences
£7,800
First Second
Workshop
289 sq m 155 sq m
(3,111 sq ft) (1,668 sq ft)
VACANT
Ground
Taxi Rank Car Parking
INDIVIDUALS t/a Falcon Taxis (5)
6 years from 25/12/2012
£9,000
Holding Over
Advertising Hoarding
PRIMESIGHT
£800
Ground
Garage
MARY STEVENS HOSPICE TRADING LIMITED
Informal Licence
£1,000
Total Commercial Area
1,410 sq m
(15,176 sq ft)
£63,100
(1) Operates from 20 shops in the West Midlands. Mary Stevens Hospice has been providing high quality care for people living with cancer and other life-limiting illnesses since 1991 (Source: www.marystevenshospice.co.uk). (2) Tenant's option to determine in September 2019 not operated. (3) Operates from 5 shops in West Midlands (Source: www.clothing4schools.com). (4) Tenant's option to determine in 2020. (5) www.falconstourbridge.co.uk.
Contacts
Seller's Solicitors
Knights Plc Midland House West Way Botley Oxford OX2 0PH
