Guide price
£145,000
Retail premises for sale10 Corn Market, Worcester WR1
Just added
Auction
Freehold
About this property
Freehold Subject to the existing tenancies.
For Sale By Public Auction on 10 December starting at 08:30 am - A freehold fully let investment & development opportunity .
Current rental income: £14,700 pa.
The property comprises an end terrace Grade II listed building with a grand frontage. The property is currently mixed use with one entrance onto New Street and a separate rear entrance from the pedestrian footpath.
The ground floor area consists of a retail unit, currently a mobile phone shop, which has ancillary storage to the rear and in the basement plus office space in part of the first floor.
On part first floor and second floor there is further office accommodation and storage.
This property falls under the new E class, which gives allows the usage of the property to be flexible.
There could be an opportunity to convert some of the commercial space into residential dwellings subject to planning (STP).
Location
10 The Cornmarket is located in a prominent position within Worcester city centre fronting onto the popular New Street which benefits from a high pedestrian footfall. The property is visible from New Street, the A38 and The Cornmarket car park.
Worcester city has excellent transport links with a direct mainline to both Birmingham and London, via Worcester Foregate Street and Worcester Shrub Hill stations which are both less than a mile away from the property.
Worcester also lies to the west of Junctions 6 and 7 of the M5 motorway, providing access north to Birmingham, the M42, the M6 and the wider national motorway network.
Energy Performance Rating
D.
Tenure
Freehold Subject to the existing tenancies.
Value Added Tax
We understand VAT is not applicable on this transaction.
Pre-auction Offers
Please note that offers in excess of the guide price may be considered prior to the Auction Sale.Viewing Times
Strictly by appointment with the Auctioneers. Please complete the request a viewing' form or contact the office.
Tenancy Details
The basement, ground and part first floor unit is let on a five year lease which expires on 31 January 2026, subject to a rental figure of £9,600 per annum. The tenancy is inside of the security of tenure provisions of the 1954 Act.
The part first and second floor unit is let on a five year lease which expires on 31 January 2026.subjet to a rental figure of £5,100 per annum. The tenancy is outside of the security of tenure provisions of the 1954 Act.
Total passing rent £14,700 per annum.
Live-streamed Auction
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction.
Disclaimer
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
Viewings
All viewings are undertaken at your own risk. It is recommended that you take a torch, as not all properties have electricity, and that appropriate clothing is worn. Bond Wolfe under no circumstances shall be liable and will not accept any responsibility for any indirect incidental, consequential, special, or exemplary damages, injury and/or death arising in connection with your access to any property, caused as a result of the property’s state of repair or your use/decision to use your own equipment or any furniture, equipment or appliances in the property.
*Definition of Guide Price and Reserve
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
Costs at Auction
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer's gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £2,340 inc VAT (£1,950.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.
Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations. The legal packs and further information about buying at auction are available on the Bond Wolfe's website.
Current rental income: £14,700 pa.
The property comprises an end terrace Grade II listed building with a grand frontage. The property is currently mixed use with one entrance onto New Street and a separate rear entrance from the pedestrian footpath.
The ground floor area consists of a retail unit, currently a mobile phone shop, which has ancillary storage to the rear and in the basement plus office space in part of the first floor.
On part first floor and second floor there is further office accommodation and storage.
This property falls under the new E class, which gives allows the usage of the property to be flexible.
There could be an opportunity to convert some of the commercial space into residential dwellings subject to planning (STP).
Location
10 The Cornmarket is located in a prominent position within Worcester city centre fronting onto the popular New Street which benefits from a high pedestrian footfall. The property is visible from New Street, the A38 and The Cornmarket car park.
Worcester city has excellent transport links with a direct mainline to both Birmingham and London, via Worcester Foregate Street and Worcester Shrub Hill stations which are both less than a mile away from the property.
Worcester also lies to the west of Junctions 6 and 7 of the M5 motorway, providing access north to Birmingham, the M42, the M6 and the wider national motorway network.
Energy Performance Rating
D.
Tenure
Freehold Subject to the existing tenancies.
Value Added Tax
We understand VAT is not applicable on this transaction.
Pre-auction Offers
Please note that offers in excess of the guide price may be considered prior to the Auction Sale.Viewing Times
Strictly by appointment with the Auctioneers. Please complete the request a viewing' form or contact the office.
Tenancy Details
The basement, ground and part first floor unit is let on a five year lease which expires on 31 January 2026, subject to a rental figure of £9,600 per annum. The tenancy is inside of the security of tenure provisions of the 1954 Act.
The part first and second floor unit is let on a five year lease which expires on 31 January 2026.subjet to a rental figure of £5,100 per annum. The tenancy is outside of the security of tenure provisions of the 1954 Act.
Total passing rent £14,700 per annum.
Live-streamed Auction
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction.
Disclaimer
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
Viewings
All viewings are undertaken at your own risk. It is recommended that you take a torch, as not all properties have electricity, and that appropriate clothing is worn. Bond Wolfe under no circumstances shall be liable and will not accept any responsibility for any indirect incidental, consequential, special, or exemplary damages, injury and/or death arising in connection with your access to any property, caused as a result of the property’s state of repair or your use/decision to use your own equipment or any furniture, equipment or appliances in the property.
*Definition of Guide Price and Reserve
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
Costs at Auction
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer's gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £2,340 inc VAT (£1,950.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.
Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations. The legal packs and further information about buying at auction are available on the Bond Wolfe's website.
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