Let to Blakemore Retail Limited with a guarantee from AF Blakemore and Son Limited t/a Spar, with Post Office and Subway until 2029 (no breaks)
Tenant in occupation since 1994
Rent review outstanding notice served at £55,000 p.a.
Forms part of a busy neighbourhood shopping centre
Lot 37
Auction 23rd May 2019
Rent £40,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
12 miles west of Birmingham
7 miles north-east of Kidderminster
Roads
A491, A458, M5
Rail
Stourbridge Junction
Air
Birmingham International Airport
Situation
The suburb of Wordsley is a predominantly residential area, some 3 miles north of affluent Stourbridge. The property is situated within the local Wordsley Green Shopping Centre, which comprises the supermarket itself along with ten other local retailers.
Tenure
Freehold.
Location
Miles
12 miles west of Birmingham
7 miles north-east of Kidderminster
Roads
A491, A458, M5
Rail
Stourbridge Junction
Air
Birmingham International Airport
Situation
The suburb of Wordsley is a predominantly residential area, some 3 miles north of affluent Stourbridge. The property is situated within the local Wordsley Green Shopping Centre, which comprises the supermarket itself along with ten other local retailers.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation and first floor ancillary accommodation. The property is the hub of the neighbourhood shopping centre and has a Post Office and Subway trading from the property. It also includes two single car garages.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack at acuitus.co.uk.
Description
The property comprises ground floor retail accommodation and first floor ancillary accommodation. The property is the hub of the neighbourhood shopping centre and has a Post Office and Subway trading from the property. It also includes two single car garages.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See 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
409 sq m 244 sq m
(4,403 sq ft) (2,626 sq ft)
BLAKEMORE RETAIL LIMITED with a guarantee from AF BLAKEMORE AND SON LIMITED t/a Spar (1)
15 years from 01/04/2014 until 31/03/2029 on full repairing and insuring terms
£40,000 (2)
31/03/2019, 31/03/2024 (31/03/2029)
Total
653 sq m
(7,029 sq ft)
£40,000 (2)
(1) For the year ending 30th April 2018, AF Blakemore and Son Limited reported a turnover of £1,256,891,000, a pre-tax loss of £20,658,000 and a total net worth of £52,571,000 (Source: Experian Group 02/04/2019). (2) The tenant has occupied the property since at least 1994. The last rent reserved prior to the lease extension was £32,500 p.a.x. The 2019 rent review is currently outstanding.
