LOT 36 - Kingswinford

The Co-Operative, 779 High Street, Kingswinford, West Midlands, DY6 8AA

Freehold Supermarket Investment

Withdrawn

Gross Initial Yield 6.4%Commercial - 20th July 2021
Key Features
  • Let to Midcounties Co-operative Society until August 2025
  • Future residential development potential (subject to all the necessary consents)
  • Comprising 2,117.41 sqm (22,792 sq ft) arranged on a site of 0.322 Hectares (0.797 Acres)
  • The property comprises a Co-op Travel and a Post Office in addition to The Co-operative Food
  • On-site parking for approximately 35 cars
  • VAT is applicable
  • Six Week Completion Available

Current Rent Reserved
£281,544 p.a.
Tenure

Freehold


Location
  • Kingswinford is a popular commuter town which is located 5 miles west of Dudley and 12 miles nort-west of Birmingham City Centre
  • The town lies on the A491 some 5 miles north of its junction with Hagley Causeway A456 with leads to the M5 (Junction 3)
  • The property is situated on the south side of High Street immediately to the east of its jusction with Moss Grove, Summerhill and Market Street
  • Occupiers close by include Lloyds Bank (adjacent), Co-operative Funeralcare, Ladbrokes, Superdrug, Greggs, HSBC and Boots together with a wide variety of local occupiers
Additional Information
  • The property is arranged on ground and first floors and comprises a Co-operative Food Supermarket together with a Co-op Travel and a Post Office. The property is arranged on a site of 0.322 Hectares (0.797 Acres) and benefits from on -site parking for approximately 35 cars which forms part of the larger Local Authority pay and display car park. The property has entrances from both the High Street at the front and the car park to the rear.
Planning
The property may lend itself to a variety of alternative uses and redevelopment, subject to obtaining all the necessary consents. All enquiries should be made with the local authority:
Dudley Metropolitan Borough Council
Contact Number: 01384 814136
Website: www.dudley.gov.uk/residents/planning
VAT

VAT is applicable to this lot.

Additional Charges
  • Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.
Contacts
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Important notice - Pre-registration approval to bid, guide prices, reserves, additional charges and other matters

Pre-registration approval to bid Allsop now require all bidders who wish to bid at our Auctions to register beforehand. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given. Please use the links on our website to pre-register. Following approval to bid, the buyer named in your registration cannot be changed without consent (for which a charge might be made). Guide Prices 1. A guide price (to include a range of prices), is not an indication of the anticipated eventual selling price or a valuation; it is an indication of the minimum price ( “the Reserve” ) at which (or range of prices within which) the seller might be prepared to sell. The eventual sale price can and frequently does, exceed the guide price. 2. Where a range is given, the Reserve will sit within that range and will not exceed the top end of the range. Where a single figure Guide Price is given, the Reserve will be within 10%, upwards or downwards, of that figure. 3. The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website and you should check the website regularly for updates and on the day of the auction. 4. All guide prices are quoted "subject to contract". 5. Please note the guide price for the Lot does not include: - any Buyers' Fee charged by the auctioneers; - VAT on the sale price; - SDLT or any other Government taxes; - additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers. 6. If a guide price is listed as "TBA", it means no guide price has been set at present. Please do not call our office about this - the guide price, or range of prices, will be published online immediately it becomes available and you should check the auction website regularly for updates and on the day of the auction. Reserve Prices 7. The reserve price is the minimum price at which the Lot can be sold. 8. Whilst every effort is made to ensure that the advertised guide prices are up-to-date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. This is because the seller may fix the final reserve price just before the Lot is offered for sale and you should check the website regularly for updates and on the day of the auction. Buyers' fees, Seller's fees and additional charges 9. For each Lot, a Buyers' Fee is payable on the fall of the hammer to Allsop LLP as follows: Residential Auctions - Lots sold for £10,000 or more: Buyers' Fee of £1,500 inclusive of VAT - Lots sold for less than £10,000: Buyers' Fee of £300 inclusive of VAT Commercial Auctions - All Lots: Buyers Fee £1,000 inclusive of VAT 10. Additional charges and fees might be charged by the seller and/or other third parties . You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts. 11. VAT may be chargeable in addition to the sale price for the Lot. The Lot Particulars and/or the Special Conditions of Sale will indicate whether VAT applies. Other Matters 12. Please note that Lots may be sold or withdrawn at any time prior to auction. 13. Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer's Fee may each be varied from the standard amounts quoted. Please refer to the addendum, the Particulars and/or the conditions of sale. 14. Street trader plans are reproduced with the consent of Experian Goad Limited. Experian Goad Digital Plans include mapping data licensed from Ordnance Survey with the permission of the Controller of Her Majesty's Stationery Office. © Crown Copyright and Experian Copyright. All rights reserved. Licence number PU 100017316. Location plans are reproduced from the Ordnance Survey mapping with the permission of Ordnance Survey on behalf of the Controller of Her Majesty's Stationery Office, © Crown copyright and Database Rights 2018 OS 100060020 15. The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not to be taken as drawn to scale and any arrows on plans or photographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries or which direction the lot is facing. The Auctioneers do not warrant or represent that any plans or photographs show the up to date position with regard to occupiers either for the Lot or for any other properties shown in such plans or photographs.