Commercial Property Sold STC

Location

The premises are located within the busy Great Malvern shopping area and are situated close to the junction overlooking Church Street. Great Malvern lies at the foot of the Malvern Hills and benefits from year round tourism. Numerous local traders are represented in the area along with national operators including Waitrose, Ask and Café Nero.

Description

The building forms part of a retail parade and consists of a ground floor shop with a separately accessed stairwell leading to office accommodation at the rear and first, second and third floors. The fourth floor is vacant and requires refurbishment. With their panoramic views of the Severn Valley the upper floors would make superb conversions to residential units subject to planning. There is also a useful basement for further storage.

To the rear of the main building is a former coach house in a separate block. The former coach house is separately accessed via a dedicated passage leading to a courtyard. The building consists of a vacant ground floor shop which would be suitable for letting or (STP) converting to an alternative use. On first and second floor are two residential flats. One flat is vacant and the second is let on an Assured Shorthold Tenancy.

Accommodation

GF Shop 66.99m2 721sq ft
MTC GF 46.88m2 505 sq ft
MTC First floor108.33m2 1,166 sq ft
Milton Group Second Floor92.92m2 1,000 sq ft
Third Floor 99.58m2 1,072 sq ft
Fourth Floor - Vacant/unimproved
Cellar 72.32m2 778 sq ft
R/O 28 GF 95.40m2 1,026sq ft
R/O 28 FF 81m2 872 sq ft
R/O 28 GF 73m2 786 sq ft
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Total GIA 736.42m2 7,927sq ft

Tenancies

Ground Floor 28-30 Belle Vue - Malvern Goldsmiths
Effective FRI 6 year lease from 2nd November 2016 at £16,000pa. Contracted out of S24-28 Landlord & Tenant Act 1954

First floor 28-30 Belle Vue - Malvern Town Council
The space is occupied as administration offices by Malvern Town Council. Subject to the purchasers wishes, a sale and leaseback could be agreed for a 12 month term at £13,500pa. Alternatively, vacant possession of this part will be granted upon completion.

Second Floor 28-30 Belle Vue- Milton Group
Effective FRI lease expiring 8th June 2023 at £8,000pa. Contracted out of S24-28 Landlord & Tenant Act 1954

Third Floor 28-30 Belle Vue - Community Action
Effective FRI lease expiring December2023 at £7,500pa. Contracted out of S24-28 Landlord & Tenant Act 1954
All commercial occupiers contribute to maintenance and outgoings via a formal service charge
Significant scope for rental income growth with residential development (STP)

Fourth Floor 28-30 Belle Vue- Vacant

Rear of 28-30 Belle Vue Terrace
Ground Floor Shop - Vacant. ERV £9,000pa. Suitable for conversion STP
First floor two bedroom residential flat - Vacant ERV £8,100pa
Second floor two bedroom residential flat - Let at £6,600pa

VAT

The property is not elected for VAT

Viewing

To discuss the property or to arrange a viewing please contact the commercial Team: 01789 387882 or commercial@sheldonbosleyknight.co.uk

Important notes

We are required by HMRC to conduct anti-money laundering checks on all parties with an interest in the property and accordingly we will require forms of identification in due course. Particulars: These Particulars do not constitute an offer or contract and should not be relied upon as being factually accurate, the photographs show only part of the property and the areas, measurements and distances given are approximately only. A buyer or a lessee must make their own enquiries or inspections and should not solely rely on these Particulars or other statements by Sheldon Bosley Knight. VAT: The VAT position relating to the property may change without notice