Spar Convenience Store 2 Wordsley Green Shopping Centre Wordsley Green West Midlands DY8 5PD

Spar Convenience Store
2 Wordsley Green Shopping Centre
Wordsley Green
West Midlands
DY8 5PD

Freehold Convenience Store Investment

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
Important Rent review outstanding notice served at £55,000 p.a.x (2)
Forms part of a busy neighbourhood shopping centre

Lot
15
Auction
11th February 2021
Rent
£40,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Convenience Store Investment

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
Important Rent review outstanding notice served at £55,000 p.a.x (2)
Forms part of a busy neighbourhood shopping centre

Lot 15
Auction 11th February 2021
Rent £40,000 per Annum Exclusive
Status Sold Prior
Price
Sector
Supermarket/Convenience
Auction Venue
Live Streamed Auction

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

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.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D. See legal pack.

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 a full repairing and insuring lease	£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 2019, AF Blakemore and Son Limited reported a turnover of £1,135,638,000, a pre-tax profit of £6,006,000 and shareholders funds of £78,505,000 (Source: NorthRow 12/01/2020).
(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 and a notice has been served proposing a new rent of £55,000 p.a.x.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.