Lot 11 8 Mill Street, Cannock, WS11 0DL

Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
07732681156

Viewing Registration / Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

David Macey

d.macey@aalegal.co.uk
01952 908 511
Description
Map
Viewings

Property Summary
  • Freehold mixed use retail and residential investment
  • Town centre location
  • Close to the new McArthurGlen Designer Outlet
  • Newly refurbished
  • Fully let producing £37,540 per annum (1)
Tenure

Freehold

Location

Cannock is an historic market town lying about 20 miles north west of Birmingham and 10 miles south east of Stafford with a district population of about 87,000. It can be accessed via the A34 and A460 and lies just to the north of the A5, which provides direct access to the M6 and M6 Toll at junctions 12 and 17 respectively. Cannock railway station provides regional rail links as well as direct services to Birmingham New Street and Cannock Chase (Area of Outstanding Natural Beauty) lies just to the north of the town centre.

Mill Street is one of the principal routes in to the town centre & forms part of the A4601. The property commands a prominent position on the south side of the road opposite its junction with Church Street and lies on the pedestrian route from the town centre to the new £160m McArthurGlen Designer Outlet West Midlands due to open in 2020. Cannock station is within a few minutes' walk.

Description

A Grade II listed part two storey and part three storey building of traditional construction beneath a part flat and part pitched roof. The ground floor provides a retail unit with rear office and ancillary accommodation that is in the process of being fitted out. The upper floors are arranged as three recently refurbished two bedroom flats including one duplex. Externally  there are 12 car parking spaces serving the property.

Tenancy

Please refer to legal documents

Planning

Cannock Chase District Council (01543 462621) www.cannockchasedc.gov.uk

VAT
Please refer to Legal Documents
Property Table
FloorAccommodationTenancyRent PA
TOTAL  £37,540
GroundRetail/office - 181.40 sq m (1,951 sq ft)Let to Global Group & Co Ltd for 6 years from 01/02/2020£16,000 (1)
FirstFlat 1 - two bedrooms, lounge, kitchen, shower room/WCAST£6,900
FirstFlat 2 - two bedrooms, lounge, kitchen, shower room/WCAST£7,140
First/atticFlat 3 - two bedrooms, study, lounge, kitchen shower room/WCAST£7,500

(1) There is a fixed rent increase to £18,500 per annum on 01/02/2025
(2) The auctioneers have not measured the property. The floor areas have been provided by the vendor & obtained from the VOA website

EPC

Refer to the legal pack


*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,000 (exclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,500 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee of £1,000 inc. VAT payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.


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