8-10 Unicorn Hill, Redditch, Worcestershire B97 4QR
FREEHOLD TOWN CENTRE INCOME PRODUCING INVESTMENT WITH DEVELOPMENT POTENTIAL
This freehold commercial investment is a wide fronted building over basement and three floors and is situated in the town centre. Redditch is approximately 11 miles from Birmingham and has easy access onto the M40 and M42 Motorways. Redditch Main line station is within a quarter of a mile and Unicorn Hill is occupied by national and local businesses. The property in its entirety is currently let to Coral Racing Ltd on a 15 year lease from 24th June 2009 at a rent of £42,507.11 per annum. We understand that there are five yearly reviews and the lease is on a full repairing and insuring basis. There are no breaks in the lease and whilst Coral have currently closed the premises, they are still paying the rent and are subletting in part. Vat is not applicable to this lot. The building is currently listed as commercial to the lower floors and offices above, although it offers scope for a variety of uses and has development potential subject to obtaining any necessary consents that may be required.
VOA lists the Ground floor and basement as being 135 sm in size. VOA lists the upper floors as being a variety fo offices being 174 sm although it does not list the third floor measurement. The original expired EPC lists the building at 325 sm.
LOCAL AUTHORITY & TAX RATING
Redditch Borough Council 01527 64252 Ground Floor and Basement Rateable Vale £17,250 Upper Floor Offices Rateable Vale £11,000 EPC Band C
By appointment through the Auctioneers, subject to Government covid 19 guidelines.
*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) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Please note that the following additional fees will apply to the purchase of your property:
1. Buyers Premium of £600 inclusive of VAT
2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to you prior to auction. You will be expected to sign this document as well as the Sales Memorandum at the time of purchase.
3. Stamp Duty - rates easily available on-line
4. Your solicitor fees and any survey fees
5. Insurance - it is your responsibility from the date of exchange to insure the property purchased.