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    Key features

    • To be offered on Thursday 27 February
    • Let to Tesco Stores Ltd on a 15 year lease from January 2024 December 2023
    • 5 yearly upwards only rent reviews (capped at 12.5%)
    • Upper floors not utilised by tenant offering future development potential (subject to the requisite consents and existing lease)
    • 9 car parking spaces
    • Tesco rent at £60,000 p.a. & 1x EV charging point let at £2.5k p.a.
    • Investment let at £62,500 p.a. (7.35% GIY on guide)

    Description

    The property comprises a former "Top Bell" public house which has been sensitively converted to a convenience store. the land surrounding the former pub has been tarmacked to provide retail spacing for 9 vehicles. There is a service yard at the rear.

    The property is let on an overriding lease of the whole (save one car parking space) to Tesco Stores Ltd.

    Tesco stores Limited has been given a '5A2' D&B Rating and is owned by it parent company Tesco PLC

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground Floor - 3,488 sq ft (324 sqm)

    First Floor - Not measured

    Tenancy

    Convenience Store

    • Let to Tesco Stores Ltd (TA as Tesco Express)
    • Let on a 15 year lease from January 2024, reversion 2039 December 2023
    • Tenant break option in YR 10
    • 5 yearly upwards only rent reviews (capped at 12.5 %)
    • Let at £60,000 p.a.

    EV car parking space

    • let to Evyve Projects (No.2) Limited
    • Let on a 15 year lease from December 2023
    • Tenant break option in YR 10
    • Rent is to be reviewed annually on each anniversary of the Term start date to increase by 2% compounded.
    • Let at £2,500 p.a.

    Rent

    £62,500 p.a.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. Prospective purchasers must reply upon their own enquiries prior to bidding. Please refer to the legal pack.

    VAT applicable however we believe that the sale can be treated as a TOGC (Please refer to legal pack)

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Stourbridge is a market town in the Metropolitan Borough of Dudley in the West Midlands. Situated on the river Stour, the town lies around 10 miles west of Birmingham.


      The property is located in a densely populated residential area fronting the busy Belmont Road, The property is surrounded by a mixture of residential flats and houses.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums