Auction Property Commercial 

Mill Lane, Bromsgrove

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Features

  • Auction Date: 27th – 28th January 2021
  • Freehold town centre retail unit
  • Potential gross yield of 9.1%
  • Available to rent for £10,000 pax
  • Adjacent to Iceland
  • Pedestrianised section of town
  • Rear yard for loading and parking
  • Total floor area of 764 ft2
  • Good rental history
  • Nearby to Asda and the bus station

Address

10 Mill LaneBromsgroveWorcestershireB61 8AG
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Property Details

•For Sale By Online Auction: 27th & 28th January 2021
•Freehold town centre retail unit
•Total floor area of 764 ft2n
•Potential gross yield of 9.1%
•Available to rent for £10,000 pax
•Adjacent to Iceland
•Pedestrianised section of town
•Rear yard for loading and parking

A ground floor lock up shop with ancillary storage accommodation and W.C facilities to the first floor.

The property occupies a strong trading position, adjacent to Iceland, and within a pedestrianised section of the town centre, which leads to the main high street from Asda and the bus station.

Description

To the ground floor there is an open plan sales area to the front section, behind a security roller shutter. The main sales space is predominantly regular shaped and offers good workable space suitable for a variety of retail and other commercial uses.There is a suspended tiled ceiling fitted with LED lighting.

The first floor offers useful storage space and has W.C facilities. There is a shared rear yard with parking, and space for loading and unloading of deliveries.

Tenure

Freehold

Accommodation

G.F Retail – 52.2 m2 / 562 ft2
F.F Retail/Storage – 18.8 m2 / 202 ft2

Total – 71 m2 / 764 ft2
(Measurements taken from the Valuation Office Agency)

Investment Analysis

The property is currently vacant and available to rent for £10,000 per annum exclusive, reflecting a gross yield of 9.1% on the guide price.

Services

We understand the property to have mains electricity, water and drainage.

Buyer's Premium

2% (min. £3,600) inc. VAT

VAT

VAT is payable on the purchase price.

Rateable Value

The property has a current rateable value of £10,250.

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