Property Details: • Type: 6,534 sq ft • Tenure: N/A • Floor Area: N/A
Key Features: • Busy town centre location with high volumes of passing trade • Substantial former Wetherspoon corner unit - 6,313 Sq. Ft. ( 586.71 sq m). • Prominent position fronting position onto Redditch town shopping district • External seating area to the front and side • Open plan trading accommodation • Within walking distance to all local town centre amenities • Vacant Possession • Guide Price offers based on £650,000 plus VAT
Location: • Nearest Station: Redditch Station • Distance to Station: 0.3 miles
Agent Information: • Address: 1st Floor 75-77 Colmore Row Birmingham B3 2AP
Full Description: For Sale by private treaty.
Offers based on £650,000 plus VAT are sought.
A substantial bar/restaurant/leisure opportunity
Formerly trading as Wetherspoons', The Rising Sun, the property comprises a two storey, mid terraced building under a mansard roof. A wrap-around pergola at first floor shelters an external seating area below.
Ground Floor: Trading accommodation provides a central bar servery with a mix of loose tables and chairs and fixed bench seating. Customer WCs are located to the rear.
Accommodation 6,313 Sq. Ft. ( 586.71 sq m).
Location Redditch is a town in north-east Worcestershire that was designated a New Town' in 1964. The town is located 29 km (18 miles) south of Birmingham, 40 km (25 miles) north-east of Worcester and 185 km (115 miles) north-west of London.
The town benefits from excellent transport links, being located 7 km (4.5 miles) south of Junction 2 of the M42 motorway.
Redditch train station provides a direct and regular service to Birmingham New Street with a fastest journey time of approximately 35 minutes.
The closest airport is Birmingham International Airport (30km/19 miles to the northeast).
SITUATION Retail in Redditch is dominated by the Kingfisher Shopping Centre where occupiers include, H&M, JD Sports, Boots, M&S, New Look, Next and Primark. Alcester Street, where the subject property is located, provides a link from the scheme to both the Palace Theatre and the other shopping hub at the Trafford Retail Park where Aldi, Maplin and Iceland occupy space. The Quadrant is in the pedestrianised main leisure area of Redditch town centre, close to the Kingfisher Shopping Centre which attracts more than 200,000 visitors per week.
Alcester Street has become a quasi-leisure pitch with both restaurants and pubs/bars occupying space. To the rear of the property there is a surface car park providing over 140 spaces.
Tenure The property will be sold virtual Freehold with the benefit of a new 999 year lease from completion, at a peppercorn ground rent.
VAT We are advised that VAT is payable in addition to the purchase price at the prevailing rate.
Business Rates The property has a rateable value ( April 2023 to present) of £78,000
EPC Available upon request.
Service Charge There is a service charge payable by the occupational tenant towards the upkeep of the communal areas. Further details are available upon request.
Legal Costs Each party are to be responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering In accordance with Anti Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
Disclaimer A director at Bond Wolfe has a vested interest in this property.
