August 2010 rent review (Notice served at 75,000 p.a.x)
Nearby occupiers include W H Smith, Boots the Chemist and HSBC
Significant redevelopment plans underway adjacent to the site
Lot 19
Auction 8th July 2010
Rent £55,000 per Annum
Status Sold Post
Price
Sector Retail Warehouse
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
5 miles south-west of Kidderminster
12 north of Worcester
18 miles south of Wolverhampton
Roads
A451,M5,M42
Rail
Hartlebury
Air
Birmingham Airport
Situation
The property is situated fronting the busy main road of Bridge Street, opposite its junction with Raven Street, approximately 100 yards from the High Street with retailers including W H Smith, Boots the Chemist and HSBC.To the rear of the property is the Canal Basin where land owned in partnership by Vantage West Midlands, British Waterways and Wyre Forest District Council is subject to redevelopment proposals including high density residential and leisure uses. The proposal also includes the Lloyds garage site immediately adjacent to the subject property which has been compulsorily purchased by the local authority with a view to creating a link between the basin development and Bridge Street. Further details can be found in the Wyre Forest District Council 2004 Adopted Local Plan, available at www.wyreforestdc.gov.uk
Tenure
Freehold.
Location
Miles
5 miles south-west of Kidderminster
12 north of Worcester
18 miles south of Wolverhampton
Roads
A451,M5,M42
Rail
Hartlebury
Air
Birmingham Airport
Situation
The property is situated fronting the busy main road of Bridge Street, opposite its junction with Raven Street, approximately 100 yards from the High Street with retailers including W H Smith, Boots the Chemist and HSBC.To the rear of the property is the Canal Basin where land owned in partnership by Vantage West Midlands, British Waterways and Wyre Forest District Council is subject to redevelopment proposals including high density residential and leisure uses. The proposal also includes the Lloyds garage site immediately adjacent to the subject property which has been compulsorily purchased by the local authority with a view to creating a link between the basin development and Bridge Street. Further details can be found in the Wyre Forest District Council 2004 Adopted Local Plan, available at www.wyreforestdc.gov.uk
Tenure
Freehold.
Description
The property comprises a LARGE GROUND FLOOR RETAIL UNIT benefiting from a FORECOURT adjacent to the front providing access to the property via a roller shutter loading door.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a LARGE GROUND FLOOR RETAIL UNIT benefiting from a FORECOURT adjacent to the front providing access to the property via a roller shutter loading door.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Retail
738.21 sq m
(7,946sq ft)
THE FACTORY SHOP LTD (1)
15 years from 22/08/2005 until 21/08/2020)
£55,000
22/08/2010 (2) and 22/08/2015
Totals
738.21 sq m
(7,946sq ft)
£55,000
(1)For the year ending 29th March 2009, The Factory Shop Ltd reported a turnover of 86,144,000 pre-tax profits of 8,730,000 and shareholders' funds of 7,807,000. (Source: www.riskdisk.com 04/06/2010) (2)Please note that the landlord has served a rent review notice proposing a new rent of 75,000 p.a.x.
Contacts
Seller's Solicitors
Mishcon de Reya Summit House, 12 Red Lion Square London WC1R 4QD
