LARGE RETAIL UNIT: TO LET OR FOR SALE, REDDITCH

7-9 MARKET PLACE, REDDITCH, B98 8AA
£40,000 per annum (exclusive of rates)

Large retail premises located in the heart of Redditch Town Centre. Close to two entrances to the popular Kingfisher Shopping Centre and Evesham Street. Nearby occupiers include Lloyds Bank, Cancer Research, Paddy Power, Natwest, etc.

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LOCATION

These large retail premises are well located in the heart of Redditch Town Centre, directly opposite St Stephens Church.  The property is close to two entrances to the popular Kingfisher Shopping Centre and Evesham Street.  Nearby occupiers include Lloyds Bank, Cancer Research, Paddy Power, Natwest, etc.

DESCRIPTION

The premises comprise a large retail unit with ground, first and second floors plus basement.

ACCOMMODATION

Approximate internal dimensions and areas are detailed below:

GROUND FLOOR

INTERNAL WIDTH (MAX)         57’6”                   17.5 m

NET FRONTAGE                            56’6”                  17.2 m

SHOP DEPTH                                  108’3”                33.0 m

SALES AREA                                   5500 sq ft         511 sq m

STORE ADJOINING LIFT           108 sq ft            10 sq m

 FIRST FLOOR

STORAGE                                         2052 sq ft         191 sq m

STORE ADJOINING LIFT           166 sq ft            15 sq m

SECOND FLOOR                            1801 sq ft         167 sq m

BASEMENT                                      516 sq ft            48 sq m

LEASE

The property is available by way of a new fully repairing and insuring lease for a term of years to be agreed upon.

RENTAL

£40,000 pa (exclusive of rates).

ALTERNATIVELY

A sale of the long leasehold interest, which is for a term of 99 years (less 10 days) from 24 June 1973 at nil rental, would be considered.

PRICE

£350,000.

RATING ASSESSMENT

We are advised that the rating assessment is as follows:

Rateable Value: £86,000

Rates Payable 2018-2019: £42,398

Please contact the Local Authority for further information.

ENERGY PERFORMANCE CERTIFICATE

A copy of the certificate is available upon request.

SERVICE CHARGE & INSURANCE

The ingoing tenant will be responsible for the payment of a variable service charge, which is currently approximately £1,909.60 (inclusive of VAT) per quarter.  This includes use of the loading bay and access for deliveries.  Building insurance is approximately £882.63 (inclusive of VAT).

LEGAL COSTS

Each party is to be responsible for their own legal costs incurred in this transaction.

VAT

We understand that VAT is not payable on the rental, however, interested parties are advised to make their own enquiries.

VIEWINGS

Strictly by prior appointment with AMT Commercial on
01527 821 111


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