Auction House London

Lot 33

Retail Property (high street) - Commercial Property 

9 Rowland Hill Centre

Kidderminster, Worcestershire, DY10 1EJ

£2,000,000+

Guide Price (plus fees)

A Substantial Shopping Centre Comprising of 21 Retail Units Part Let Producing £273,460 Per Annum. Potential for Residential Development (Subject to Obtaining all Relevant Consents)

Description

Tenure

Leasehold. The property is held on a 125 year lease from 9th June 1975 (thus approximately 80 years unexpired) at a rent reserve of £24,000 per annum exclusive geared to 8% of the estimated rental value.

Location

The shopping centre is situated in the centre of Kidderminster and is home to various shops and amenities. The open spaces of Brinton Park are within easy reach. Transport links are provided by Kidderminster rail station.

Exterior

The property benefits from 50 car parking spaces

Current Rent Reserved

Current Rent Reserved £273,460 per annum

Accommodation and Tenancy Schedule

Property Floor Accommodation Lessee Lease Terms Current Annual Rent
Unit 1 Ground 290 sq ft / 26.98 sq m Photographic Retail 2008 Ltd /Max Spielmann Ltd 10 years from 23/01/2013 (holding over) £13,200
Unit 2 Ground & First 1,789 sq ft / 166.2 sq m
1,421 sq ft / 131.99 sq m
Santander Plc 8 years from 10/08/2012 £57,000
Unit 3 Ground & First 1,131 sq ft / 105.1 sq m
587 sq ft / 54.5 sq m
Sally Salon Services 10 years from 11/04/2012 £35,400
Unit 4 & Part 5 Ground & First 1,413 sq ft / 131.3 sq m
1,460 sq ft / 135.6 sq m
Vacant Vacant Vacant
Unit 5 Ground 677 sq ft / 62.9 sq m Vacant Vacant Vacant
Unit 6A Ground 877 sq ft / 81.45 sq m Individuals t/a Excellent Eyebrows 5 years from 07/02/2022 £9,360
Unit 7 Ground & First 866 sq ft / 80.47 sq m
854 sq ft / 79.3 sq m
Vacant Vacant Vacant
Unit 8 Ground & First 780 Sq Ft / 72.5 SqM
398 Sq Ft / 37 SqM
Vacant Vacant Vacant
Unit 9 Ground & First 958 Sq Ft / 89 SqM
497 Sq Ft / 46.2 SqM
Vacant Vacant Vacant
Unit 10 Ground & First 981 Sq Ft / 91.1 SqM
475 Sq Ft / 44.1 SqM
Vacant Vacant Vacant
Unit 11 Ground & First 1,064 Sq Ft / 98.8 SqM
410 Sq Ft / 38.1 SqM
Vacant Vacant Vacant
Unit 12 & 18A Ground & First 2,339 Sq Ft / 217.3 SqM
946 Sq Ft / 87.9 SqM
ECSD Ltd - Leading Labels Tenancy At Will Nil
Unit 14 Ground & First 2,457 Sq Ft / 228.3 SqM
1,080 Sq Ft / 100.3 SqM
Vacant Vacant Vacant
Unit 15/16 Ground and First 2,886 Sq Ft / 249 SqM
2,132 Sq Ft / 198.1 SqM
Vacant Vacant Vacant
Unit 17 Ground & First 2,680 Sq Ft / 249 SqM
2,704 Sq Ft / 251.2 SqM
Vacant Vacant Vacant
Unit 18B Ground & First 2,060 Sq Ft / 191.34 SqM
182 Sq Ft / 16.9 SqM
Café Pacifico Kidderminster Ltd 10 years from 27/01/2014 (holding over) £24,000
Kiosk 1/Unit 13B Ground N/a Vacant Vacant Vacant
Unit 4A Vicar Street Ground 887 Sq Ft / 82.4 SqM Vicar Street Nails 7 years from 20/06/2020 £24,000
Unit 5B Vicar Street Ground 1,496 Sq Ft / 139 SqM Chapman & Meyers Options 10 years from 07/03/2013 £60,000
Unit 6C Vicar Street Ground & First 936 Sq Ft / 87 sqM
226 Sq Ft / 21 SqM
Warren James (Jewellers) Ltd 10 years from 04/09/2017 £32,500
Unit 7D Vicar Street Ground 1,114 Sq Ft / 103.45 sqM Individuals t/a Easy Lounge Coffee Shop 20 years from 10/05/2022 £18,000

Joint Agent

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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Enquire about 9 Rowland Hill Centre, Kidderminster, Worcestershire, DY10 1EJ

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