Lot O10 - 5-7 George Place, Gloucester Road, Ross-on-Wye, Herefordshire, HR9 5BS

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £275,000

Three Freehold Town Centre Shops

  • Town Centre Location
  • To be offered as one Lot
  • One shop let to Subway until 2032 (1)
  • One shop to be offered Vacant

Tenure

Freehold

Location

The property is situated in the centre of this popular and historic town, on the south side of Gloucester Road, between its junctions with Hill Street and High Street.
Occupiers close by include William Hill (opposite), NatWest, Domino's Pizza, Superdrug, WH Smith, TSB and Barclays amongst many others.

Description

The property is arranged on ground and one upper floor to provide three self-contained ground floor shops with ancillary storage above.

VAT

VAT is applicable to this sale, please refer to the legal documents for further details.

To View

There will be a single block viewing held prior to the auction. If you would like to attend you must register with us in advance no later than 12 noon on Thursday 6th September.

Please email amy.heuch@allsop.co.uk with the name and mobile number of each party wishing to attend. Photographic ID will be required on the day. In the subject box of your email please enter Lot O10 Ross-on-Wye.

Current Rent

Total Current Rent Reserved £26,500 p.a. plus a vacant shop


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Sold for £371,000

This auction lot is now closed.

Auction Ended

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* Reserve not to exceed:
£275,000
Gross initial yield:
9.6% plus a vacant shop
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
5 Vacant Gross Frontage
Net Frontage
Shop and Built Depth
First Floor
5.7 m
5.5 m
6.4 m

2.2 sq m
(18' 7")
(17' 11")
(20' 11")

(24 sq ft)
6 Subway Realty Limited Gross Frontage
Net Frontage
Shop and Built Depth
First Floor
5.7 m
5.4 m
14.0 m

57.2 sq m
(18' 8")
(17' 9")
(46' 0")

(615 sq ft)
15 years from 25.10.2017
Rent review every 5th year
FR&I
(1) Tenant break option on the 5th and 10th anniversaries
£13,000 p.a. Rent Review 2022 (1)
7 St Michael's Hospice
(Incorp. Freda Pearce Foundation)
Gross Frontage
Net Frontage
Shop and Built Depth
First Floor
5.7 m
5.4 m
13.1 m

31.9 sq m
(18' 8")
(17' 9")
(43' 11")

(343 sq ft)
5 years from 25.12.2017
Rent review in the 3rd year
FR&I
(2)Tenant break option on the 3rd anniversary
£13,500 p.a. Rent Review 2020 (2)
Total £26,500 p.a.

  • * The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price.
  • The Reserve Price will only be disclosed once it has been met during bidding and not before.
  • The term "reserve not to exceed £..." means that the seller's lowest acceptable sale price will not exceed the quoted figure. The reserve price will not be set above this figure. However, it could be set at, or indeed below, the "reserve not to exceed" figure stated.
  • Reserve prices are subject to change up to the date of the auction.
  • At the commencement of marketing a starting price is to be announced. The starting price will be published 24 hours before bidding opens.
  • Lots may be withdrawn prior to auction.