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Lot 10 Click here for addendum

6 Week completion

SITUATION

Located in a prime retail pitch within the heart of the city centre on the main pedestrianised thoroughfare at its junction with High Town, adjacent to Starbucks and TSB and amongst such other multiple retailers including Marks & Spencer, Costa Coffee, Boots Opticians, Holland & Barratt, Laura Ashley, WH Smith and many others, being within close proximity to the Maylord Shopping Centre.
Herefordshire is located approx. 22 miles south-west of Worcester and 23 miles north-west of Gloucester.

PROPERTY

A mid terrace building comprising a Ground Floor Shop with internal access to Storage on the first and second floors.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 21'0"
Internal Width 19'7"
narrowing at rear to 10'11"
Shop Depth 61'7"
Sales/Store Area Approx. 985 sq ft
First Floor
Storage Area Approx. 375 sq ft
Second Floor
Storage Area Approx. 185 sq ft
2WCs

Total Area Approx. 1,545 sq ft

VAT is applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to tReds Ltd (Shoe Retailers having approx. 29 branches) (T/O for Y/E 31/03/16 £15.9m, Pre-Tax Profit £49,844 and Shareholders' Funds £4.5m) for a term of 5 years from 25th March 2014 at a current rent of £47,500 per annum exclusive.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

61 Commercial Street, Hereford, Herefordshire HR1 2DJ