FOR SALE VIA TRADITIONAL ONLINE AUCTION - CLOSING BIDS 8TH DECEMBER 2021: Potential annual income of £30,000. Mixed retail and residential investment opportunity comprising two shops with vacant upper floors having planning permission to develop into four one bedroom flats.
Occupying a prime town centre position with views over the historic canal basin from the upper floors, this Grade II listed building provides a fantastic investment opportunity with great scope to add value and the potential to generate a healthy rental income. Below the footprint of the building is a sizeable cellar which, with some careful thought, could also provide some interesting development potential.
Method of Sale: This property is being sold via traditional online auction and all interested parties should visit the auction section of the Eden Midcalf website in order to register to bid and to find out more about this method of sale: https://www.edenmidcalf.co.uk/sales/auctions.html
Location: Based in the Wyre Forest District of North Worcestershire, Stourport-on-Severn has been a popular day-trip and holiday destination for over a century. The River Severn and the historic canal basins combine to provide a perfect backdrop for all sorts of family activities with the atmosphere of a true maritime holiday resort. The town itself offers a wide variety of both independent shops and large supermarkets, pubs, cafes and restaurants as well as family attractions such as the riverside meadows and playing fields, boat trips, amusement arcades and a traditional fairground.
The larger town of Kidderminster is just over 4 miles away, whilst Birmingham and Worcester are approximately 22 and 12 miles away respectively. The M5 can be accessed easily from either Junctions 5 or 6 and the mainline train station in Kidderminster has direct services to Birmingham, Worcester and London.
The property is prominently situated within the town centre at the junction of York Street and Bridge Street.
Planning: The vacant upper floors have previously benefitted from full planning consent to convert into four one bedroom flats. The vendor informs us that due to some of the work having been started he has confirmation from Wyre Forest District Council that this planning permission is still valid. Further details can be found by visiting https://www.wyreforestdc.gov.uk/planning-and-buildings/search-for-a-planning-application/ and looking up the following application numbers: 11/0435/FULL and 11/0436/LIST
Tenure: The property will be sold as Freehold with vacant possession, subject to the following Leases:
1 Bridge Street Vacant Previous passing rent of £4,200 per annum Rateable value £2800
1A Bridge Street Currently let to Gatsby and Belles hairdressers Rent of £6,600 per annum Rateable value £5100
Upper Floors of 1 and 1A Bridge Street Vacant
Services: It is believed that all mains services are connected
Local Authority: Wyre Forest District Council
Viewing Arrangements: Viewing is strictly by prior appointment with Eden Midcalf. Please be aware that the vacant upper floors are in a poor state of repair.
For further details on this property please call us on: 01299 402392