Interested in this property?
Contact the Ledbury Office on 01531 634648 Option 3.
- AN EXCELLENT OPPORTUNITY TO PURCHASE A FREEHOLD INVESTMENT
- ENJOYING A PRESTIGIOUS PROMINENT POSITION IN GREAT MALVERN
- RENTAL INCOME CURRENTLY PRODUCING £33,500 PER ANNUM
- VIEWING HIGHLY RECOMMENDED
- GUIDE PRICE: £495,000
- CONTACT LEDBURY OFFICE
AN EXCELLENT OPPORTUNITY TO PURCHASE A FREEHOLD INVESTMENT ENJOYING A PRESTIGIOUS PROMINENT POSITION IN GREAT MALVERN RENTAL INCOME CURRENTLY PRODUCING £33,500 PER ANNUM VIEWING HIGHLY RECOMMENDED GUIDE PRICE: £495,000 CONTACT LEDBURY OFFICE
Location & Description
The property is located in Great Malvern, in close proximity to the famous Malvern Theatre and Cinema Complex, and the prime retail area with national multiples such as Boots, Fat Face, Cafe Nero, Costa Coffee, Ask, Prezzo, Waitrose and high street banks nearby. The Malvern urban area has a population of approximately 40,000, with a thriving business community and a main line railway station within walking distance, which runs on the Hereford to Paddington and Hereford to Birmingham lines. Worcester is approximately 7 miles distant and Junction 7 of the M5 motorway is approximately 10 miles distant.
The Exchange at 105 Church Street and 2 Graham Road is situated on a very prominent corner position in Great Malvern and comprises a mixed use premises. The property briefly comprises; retail shop to basement, ground and first floor at 105 Church Street; office accommodation on the first and second floor; and a two bedroomed flat to the third floor. The current passing rent is £33,500 per annum, with scope to improve on this, as parts of the property lend themselves to refurbishment, subject to necessary planning consents. This presents an ideal investment opportunity and we highly recommend viewing.
Premises let to Rhubarb (105 Church Street)
PREMISES LET TO RHUBARB Let under a 10 year lease from 1 February 2016 at £17,000 PAX - full lease details available upon request. Basement - 6.68m (21ft 11in) x 9.3m (30ft 6in) Stairs from main saleshop area lead to basement which is used as additional sales, with storage area measuring 1.68m x 5.14m and understairs store measuring 5.75m x 1.87m (restricted height). Ground Floor Retail Area - 11.65m (38ft 3in) maximum x 6.84m (22ft 5in) maximum. With window frontage onto both Church Street and Graham Road. FIRST FLOOR Saleshop Area - 4.55m (14ft 11in) maximum x 5.8m (19ft 0in) maximum With access to ancillary space incorporating Storage Area 1 - 1.65m (5ft 5in) x 3.65m (12ft 0in) Storage Area 2 - 1.65m (5ft 5in) x 2.1m (6ft 11in) Storage Area 3 - 1.75m (5ft 9in) x 2.39m (7ft 10in) Kitchenette - 3.21m (10ft 6in) x 2.86m (9ft 5in) Store 1 - 1.69m (5ft 7in) x 2.13m (7ft 0in) Store 2 - 2.75m (9ft 0in) x 2.18m (7ft 2in) WC - 1.3m (4ft 3in) x 1.95m (6ft 5in)
2 Graham Road
With access to communal hall, store, basement, with stairs to office accommodation to first and second floor and third floor flat.
First Floor Offices
FIRST FLOOR OFFICE SUITE Reception/Lobby - 3.45m (11ft 4in) x 1.75m (5ft 9in) Office 1 - 3.12m (10ft 3in) x 6.28m (20ft 7in) Let under a one year renewable agreement from 1 December 2016 at £2,700 per annum. Office 2 - 3.49m (11ft 5in) x 5.13m (16ft 10in) Let in October 2017, at £2,700 per annum
Second Floor Offices
SECOND FLOOR WC Second Floor Office 1 - 2.65m (8ft 8in) x 5.85m (19ft 2in) Let for £1,800 Per annum. OFFICE SUITE - measurements taken from plans provided by the owner. Current tenant holding over on an agreement at £3,600 per annum. Reception/Lobby Area - 1.55m (5ft 1in) x 2.3m (7ft 7in) Office 1. - 3.65m (12ft 0in) x 5.85m (19ft 2in) .Office 2. - 6.06m (19ft 11in) x 6.45m (21ft 2in)
THIRD FLOOR FLAT
Currently let under an Assured Shorthold Tenancy dated 26 July 2016 at £475 per calendar month. Entrance hall leads to sitting room, bathroom and kitchen. Kitchen - 2.87m (9ft 5in) x 3.19m (10ft 6in) Bathroom - 1.78m (5ft 10in) x 2.05m (6ft 9in) Bedroom 1 - 3.94m (12ft 11in) x 2.56m (8ft 5in) Sitting Room - 4.98m (16ft 4in) x 3.44m (11ft 3in) Bedroom 2 - 2.91m (9ft 7in) x 4.26m (14ft 0in)
We have been advised that mains electricity, gas, water and drainage are connected to the property. Gas central heating is provided to the ground and first floor retail unit. Night storage heaters are provided to the self contained flat on the third floor. This information has not been checked with the respective service providers and all interested parties may wish to make their own enquiries with the relevant authorities. No statement relating to services or appliances should be taken to infer that such items are in satisfactory working order and intending purchasers are advised to satisfy themselves where necessary.
PLANNING All interested parties are advised to enquire with the local authority in order to establish Use Classes for the property. Plans are available on request for conversion of first and second floors to self contained apartments. No application has been made to planning or building regulations.
Intending purchasers will be required to produce identification documentation and proof of funding in order to comply with The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. More information can be made available upon request. John Goodwin FRICS has made every effort to ensure that measurements and particulars are accurate however prospective purchases/tenants must satisfy themselves by inspection or otherwise as to the accuracy of the information provided. No information with regard to planning use, structural integrity, tenure, availability/operation, business rates, services or appliances has been formerly verified and therefore prospective purchasers/tenants are requested to seek validation of all such matters prior to submitting a formal or informal intention to purchase/lease the property or enter into any contract.
TENURE The property is available for sale on a freehold basis, subject to legal verification and existing leases. GUIDE PRICE £495,000
Flat 3, 2 Graham Road - Band B
Energy Performance Certificate
The EPC rating for this property is EPC FOR 105 CHURCH STREET Rating - C70 EPC FOR FLAT, 2 GRAHAM ROAD Rating - F25
By appointment to be made through the Commercial Department at the Agent's Ledbury Office, Tel 01531 634648 Option 3
MISREPRESENTATION ACT, 1967 - JOHN GOODWIN - Conditions under which Particulars are issued:
John Goodwin for himself and for the Vendors or lessors of this property whose agent he gives notice that:
- The particulars are set out as a general outline only for the guidance of intending purchasers or leasees and do not constitute, nor constitute part of, an offer or contract.
- All descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them.
- No person in the employment of John Goodwin has any authority to make or give any representation or warranty whatever in relation to this property.
From the Agent's Malvern Office turn right and then turn left onto Church Street. Continue down the left hand side of Church Street until you reach the traffic lights and the property can be found directly ahead of you on the corner of Church Street and Graham Road.
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