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Lot 20

6 Week Completion

Situation

Located within the City's pedestrianised retail centre and just a few yards from its junction with High Town and Commercial Street, opposite Paddy Power, Post Office and Bonmarché and amongst other multiple retailers including Marks & Spencer, Costa Coffee, Boots Opticians, Holland & Barratt, Laura Ashley, WH Smith and many others.
Hereford is an historic Cathedral City located approx. 23 miles south-west of Worcester and 24 miles north-west of Gloucester.

Property

A mid terrace building comprising a Ground Floor Shop with trap door access to a Basement and internal access to Ancillary Accommodation on the first and second floors. In addition, the property includes a front communal side passageway that provides access to the rear of the shop.

Accommodation

Ground Floor Shop
Gross Frontage 31'4"
Internal Width 25'8"
widening to 27'10"
Shop Depth 28'5"
Built Depth 39'1"
WC
Basement Not inspected
First Floor Ancillary Area Approx. 820 sq ft
Second Floor Ancillary Area Approx. 535 sq ft plus WCs

VAT is applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to TUI UK Retail Limited (having 600+ travel agencies - source: www.tui.co.uk) (T/O for Y/E 30/09/2017 £201m, Pre-Tax Profit £1m and Shareholders' Funds £196m) for a term of 5 years from 24th June 2018 (renewal of a previous lease - in occupation for over 10 years) at a current rent of £30,000 per annum exclusive.

Tenant's Break 2021

Planning

Planning Permission was granted on 14th August 2018 by Herefordshire Council for the 'Proposed conversion of first and second floors to residential (C3) to form 4 units' (4 x 1 bed flats). Planning reference – 182351

Planning Documentation available from Auctioneers

*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.

1–2 St Peter’s Street, Hereford, Herefordshire HR1 2LE