Commercial Property for sale

Load Street, Bewdley, Worcestershire, DY12

Under Offer £279,950

Property Description

Key features

  • Let to National Charity St Richards Hospice on a ten year FRI lease.
  • Producing 22,000 per annum
  • Freehold building comprising a retail shop and the ground rent income for five flats above
  • Prominent Town Centre Location
  • NIY of 7.7% after deducting purchasers costs of 2.05%

Full description

Tenure: Freehold

DESCRIPTION
The property comprises a double fronted retail shop and the freehold and ground rent income for five above flats, located in a very prominent retailing position on Load Street in Bewdley Town Centre. The property is available on a new ten year FRI lease, let to the charity St Richards Hospice.

The ground floor retail area extends to 1,250 sq. ft. and benefits from gas central heating, kitchen, male and female WC's and a rear storeroom.

LOCATION
The property occupies an extremely prominent position at the heart of a busy retailing parade on Load Street in Bewdley. Neighbouring occupiers include; HSBC Bank, The Post Office, The Co-Operative Food, Barclays Bank, Corals and many more. Bewdley is a very popular tourist location and is described as the most perfect small Georgian town in Worcestershire.

Load Street connects to the A456 Kidderminster Road with Kidderminster 4 miles to the West and lies approximately 15 miles from Worcester City Centre and 20 miles from Birmingham City Centre.

BUSINESS RATES
We have been advised that the current rating assessment is:

Rateable value - 15,750
Rates Payable - 6,993

We recommend that interested parties should make their own enquiries with the local authority.

TENANCY
DemiseTenantLease TermsAnnual RentComments
Ground FloorSt Richards Hospice10 year FRI lease (from date of completion)21,000Break and Rent Review at Fifth Anniversary
Upper Floors - 5 FlatsGround Rent(Sold on LLH) - 1,000
Total 22,000
COVENANT INFORMATION
St Richards Hospice currently operate 19 retail stores in prime locations across the country, however are predominately based in the West Midlands and have successfully traded for over 30 years.

PROPOSAL
We are instructed to seek offers in the region of 279,950 subject to contract and exclusive of VAT. This represents a Net Initial Yield of 7.7% based on a current income of 22,000 per annum after deducting purchaser's costs of 2.05%

LEGAL COSTS
Each party is responsible for their own legal costs.

VAT
We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard.

EPC
Available upon request.

More information from this agent

Nearest stations

  • Kidderminster (3.3 mi)
  • Hartlebury (4.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bond Wolfe, West Bromwich

8th Floor West Plaza, 144 High Street, West Bromwich, B70 6JJ

0121 396 0838 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Kidderminster (3.3 mi)
  • Hartlebury (4.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bond Wolfe, West Bromwich

8th Floor West Plaza, 144 High Street, West Bromwich, B70 6JJ

0121 396 0838 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 56_60_Load_Street_Bewdley. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bond Wolfe, West Bromwich. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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