Retail Unit Trading as Egg Free Cake Box Until 2032 (subject to option)
Includes a Retail Unit, a Self Contained Office and a Beauty Salon
Busy Pedestrianised City Centre Location
Close to the Cowgate Shopping Centre and Angel Place Street Market
Nearby Occupiers Include New Look, Superdrug, JD Wetherspoon, Nationwide and Mountain Warehouse.
Lot 36
Auction 22nd September 2022
Rent £31,000 per Annum Exclusive rising to a minimum of £34,000 per annum exclusive in 2027
Status Sold
Price £296,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
24 miles north of Cheltenham, 26 miles south-west of Birmingham, 34 miles south-west of Royal Leamington Spa
Roads
A44, A440, A449, M5 (Junction 7)
Rail
Worcester Foregate Street Railway Station, Worcester Shrub Hill Railway Station
Air
Birmingham International Airport
Situation
Worcester is an attractive and popular Cathedral and University City with a population of approximately 100,000, is located on the River Severn. The property is prominently positioned on the south side of the pedestrianised Broad Street, one of Worcester's' main retailing thoroughfares. The property is located close to the Angel Place Street Market and the Cowgate Shopping Centre. Nearby occupiers include New Look, Superdrug, JD Wetherspoon, Nationwide and Mountain Warehouse.
Tenure
Freehold.
Location
Miles
24 miles north of Cheltenham, 26 miles south-west of Birmingham, 34 miles south-west of Royal Leamington Spa
Roads
A44, A440, A449, M5 (Junction 7)
Rail
Worcester Foregate Street Railway Station, Worcester Shrub Hill Railway Station
Air
Birmingham International Airport
Situation
Worcester is an attractive and popular Cathedral and University City with a population of approximately 100,000, is located on the River Severn. The property is prominently positioned on the south side of the pedestrianised Broad Street, one of Worcester's' main retailing thoroughfares. The property is located close to the Angel Place Street Market and the Cowgate Shopping Centre. Nearby occupiers include New Look, Superdrug, JD Wetherspoon, Nationwide and Mountain Warehouse.
Tenure
Freehold.
Description
The property, a Grade II listed mixed use building, comprises ground floor retail accommodation with ancillary accommodation on part first and part second floors. The property also comprises a hair salon on part first and self contained offices on part second and third floors.
VAT
VAT is not 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, a Grade II listed mixed use building, comprises ground floor retail accommodation with ancillary accommodation on part first and part second floors. The property also comprises a hair salon on part first and self contained offices on part second and third floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
08/02/2027 Minimum increase to £27,000 Per Annum Exclusive (2) (07/02/2032)
First (Part)
Office
45.50
(490)
ROCKPHONIX Limited (CRN 12401148) (3)
5 Years from 17/02/2020
£4,000
(07/02/2025)
Second (Part) Third
Office Office
45.60 36.30
(490) (391)
INDIVIDUALS
14 years from 01/11/2015 until 31/10/2029 (6)
£3,000
Rent Review at 01/11/2024 fixed to £3,500 (4) (6) (31/10/2029)
Total Approximate Floor Area
312.80
(3,365) (5)
£31,000
(1) B Bhatti Limited (CRN 13554291) was incorporated on 08/08/2021 and is a franchisee of Egg Free Cake Box (CRN 06861652) was incorporated in 2009. The company now operates from 175 locations nationwide (www.eggfreecake.co.uk). (2) As to the retail unit, the lease provides for a tenant option to determine the lease on 7th February 2027 on serving 6 months written notice and the lease provides for a fixed rental increase to a minimum of £27,000 per annum exclusive 14/02/2027. The lease also provides for the tenant to pay £12,000 per annum exclusive from 14/06/2022 to 14/12/2022. The seller is holding a £6000 rent deposit. (3) Rockphonix Limited (CRN 12401148) was incorporated on 13th January 2020. The seller is holding a rent deposit of £1000 (4) As to the second and third floor offices, the lease provides for a fixed rental increase to £3,500 per annum exclusive on 01/11/2024). (5) The floor area stated above are those published by the Valuation Office Agency at www.VOA.gov.uk (6) As to the Second and Third floors, the lease term stated above is by virtue of 3 sequential leases, A reversionary lease for a term of 5 years from 01/11/2024 until 16/09/2029 provides for the rent to be increased to £3500 per annum exclusive
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.
