Home > Auctions > June 2023 21 June 2023 - 9:00am > Lot 60

June 2023: Wednesday 21 June 2023 - 9:00am
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    Key features

    • Investment currently let at £81,900 pa (13.10% Yield on Guide Price)
    • Comprises two shops together with 3x two bed flats, a 4 bed HMO and a 3 bed HMO
    • Shops let to tenants trading as Wags of Worcester and That Record Shop
    • Affluent and attractive Worcestershire Town
    • Popular student area close to University
    • In the same ownership for 25 years

    Description

    The property, which is Grade II Listed, comprises a three storey building arranged as two ground floor shops, 3x two bed flats, a 4 bed HMO and a 3 bed HMO. The vendor has recently spent over £60,000 recently on works including replacing the roof.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note the approximate areas have been provided by the client/VAO and the property has not been inspected by Savills.


    Unit 5 The Tything - 22.58 sq m (243 sq ft)

    Unit 6 The Tything - 36.70 sq m (395 sq ft)


    5A

    ENTRANCE HALL

    LANDING 8' 5'' x 13' 10''

    LOUNGE/KITCHEN/DINER 17' 7'' x 15' 3'

    'SHOWER ROOM 3' 5'' x 6' 7''

    ROOM 1 14' 0' x 16' 7''

    ENSUITE 3' 10'' x 11' 1''

    LANDING

    ROOM 2 14' 8'' x 16' 4''

    ROOM 3 7' 8'' x 15' 4''

    ROOM 4 9' 9'' x 14' 11''


    5B

    KITCHEN 9' 9'' x 14' 3''

    LOUNGE 12' 0'' x 14' 10''

    BATHROOM 11' 8'' x 14' 4''

    HALL

    ROOM 1 9' 3'' x 9' 1''

    ROOM 2


    6A

    ENTRANCE HALL

    LANDING ROOM 1 8' 8'' x 15' 9''

    ROOM 2 8' 7'' x 15' 0''

    LANDING ROOM 3 13' 11'' x 16' 10''

    SHOWER ROOM 6' 7'' x 6' 0''

    KITCHEN 10 ' 0'' x 8' 7''

    LOUNGE 15' 5'' 7' 0''


    6B

    ENTRANCE HALL

    SHOWER ROOM 6' 11'' x 8' 1''

    LOUNGE/KITCHEN/DINER 12' 10'' x 16' 6''

    LANDING 10' 11'' x 10' 7''

    HALL

    ROOM 1 8' 1'' x 13' 8''

    ROOM 2 8' 0'' x 9' 6''


    6C

    ENTRANCE HALL

    ROOM 1 13' 8'' x 15' 2''

    LANDING

    ROOM 2 17' 7'' x 10' 8''

    KITCHEN 8' 0'' x 6' 11''

    UTILTY 6' 5'' x 8' 11''

    BATHROOM 6' 4'' x 5' 11''

    LOUNGE 9' 6'' 15' 1''


    Tenancy

    Unit 5 - Let to WAGS of Worcester Ltd on a 2 year lease from 01/10/2022 at a rent of £5,100 pa

    5A (Room 1) - Let at £6,600 pa (£550 pcm)

    5A (Room 2) - Let at £5,400 pa (£450 pcm)

    5A (Room 3) - Let at £5,400 pa (£450 pcm)

    5A (Room 4) - Let at £4,800 pa (£400 pcm)

    5B - Let at £10,920 pa (£910 pcm)


    Unit 6 - Let to an Individual trading as That Record Shop on a 1 year lease from 09/06/2020 (holding over) at £3,384 pa

    6A - Let at £18,456 pa (£1,538 pcm)

    6B - Let at £10,920 pa (£910 pcm)

    6C - Let at £10,920 pa (£910 pcm)


    Total - £81,900 pa

    Rent

    £81,900 pa

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        Local information

        Worcester is an affluent and attractive University City approximately 25 miles south-west of Birmingham and 25 miles north of Cheltenham. The property is located in a prominent position on the east side of The Tything, 0.2 miles north of Worcester Foregate Street Station. Nearby occupiers include Tesco Express, Pizza Milano, Costa Coffee and ODEON Cinema.

        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.

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