Commercial development for sale
Property description & features
- Tenure: Freehold
- Site Area: 0.376 Acres
- PP 13x Apartments
- Freehold Tenure
- GF Tenant - £40k PA
The property occupies a prominent position within Kidderminster High Street and benefits from an extended frontage onto the High Street and a rear entrance into the Rowland Hill Shopping Centre, as well as a dedicated rear service yard accessed via Vicar Street.
The subject property also benefits from an internal service lift from service yard (basement) to first floor.
The property was formerly home to Marks & Spencer with the ground floor now let to Mikeys Boxing Gym.
The upper floors are vacant, and consent has been granted to convert the uppers to residential.
The scheme allows for the conversion of 13no. apartments comprising 3x1 bed, 9x 2bed and 1x3 bed – plans are available from the agent upon request.
Each flat would have its own private access via existing internal and external openings.
The existing openings within the building would provide natural light into each proposed flat.
Location
The property occupies a prime position in the heart of Kiderminster Town Centre and close to a number of High Street retailers and banks including Poundland, Vision Express, Greggs, EE, Vodafone, O2, Natwest, Nationwide and Pandora.
Availability_text
The accommodation comprises the following areas:
Accommodation
Ground Floor 15,992 ft2 1,485.7 m2
First Floor 14,313 ft2 1,329.7 m2
Second Floor 2,996 ft2 278.3 m2
Total Floor Area 33,301 ft2 3,093.7 m2
Site Area: 0.376 acres (0.152 hectares)
Tenancy
The ground floor is let to Mikeys Boxing Gym on a 5-year lease from December 2022 at a rental of £40,000 per annum exclusive.
Planning Permission
Planning has been granted for the conversion of the upper floors to provide 13no. apartments comprising 3x1 bed, 9x 2bed and 1x3 bed – Planning Ref: 23/0463/PNC and 23/0706/FUL.
Proposal
Unconditional offers at £650,000 are sought, subject to contract.
Tenure
Freehold – Title Number HW26866
VAT
All figures’ quotes are exclusive of VAT. It is envisaged the sale will be treated as a TOGC which will negate the need for VAT to be payable on the purchase in any event.
Energy Performance Certificate
Available upon request from the agent.
Legal Costs
Each party are to be responsible for their own legal costs incurred during this transaction.
Availability
The property is available immediately upon completion of legal formalities.
Viewings
Viewings are strictly via the sole letting agent Siddall Jones.
Property information from this agent
Places of interest
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Property reference 210836-1. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Siddall Jones - Birmingham.
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Energy Performance data and Internal floor area
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