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Droitwich Medical Centre, Ombersley Street, DROITWICH, Worcestershire, WR9 8RD

30th July 2018
starts 10:30 AM at Grand Connaught Rooms
withdrawn prior to auction
£14,500,000

Tenure: Freehold

Freehold purpose built medical centre investment
Company/corporate sale with significant SDLT saving
44,327sq.ft. gross internal area producing £861,127 per annum
£786,508.00 of rental income NHS underwritten


Location:
Droitwich Spa is located in North Worcestershire some 20 miles south west of Central Birmingham and 5 miles north of Worcester. The medical centre is located close to the town centre, adjacent to a police station and benefits from being in close proximity to other medical premises including BMI The Droitwich
Spa Hospital and private diagnostic facility. Also nearby is St Andrew’s Square Shopping Centre and other local retailers and amenities. The town benefits from good road access to the M5 motorway (junction 5) which lies 2 miles to the north. Other transport links include Droitwich Spa Rail Station which is within 5
minutes’ walk of the property and provides services to Birmingham New Street with a journey time of some 30 minute.

Description:
Droitwich Medical Centre is a purpose built medical centre constructed in 2009. It has a gross internal area of approximately 4,118sqm providing multiple consulting rooms, treatment rooms, minor operating theatre, administration and ancillary accommodation. The building is located on the site of approximately
1.24 acres (0.5ha) the majority of which provides car parking for some 78 cars.

Accommodation/tenancy schedule:
Please see the attached schedule.

Income notes:
The NHS reimburses rents for space in the building occupied by both GP tenants (Salters and Spa) and Worcestershire Health and Care NHS Trust (formerly Worcestershire Primary Care Trust). This income accounts for approximately 95% of the building’s total floor area. Worcestershire Health Care and Social Care NHS Trust pay a peppercorn rent under the existing lease terms. In lieu of this and following agreement with a district valuer and Worcestershire Primary Care Trust in 2009, the two GP practices pay an enhanced rent to reflect the rental shortfall during the 25 year term. All occupants pay an additional service charge with the exception of Worcestershire Acute Hospital’s NHS Trust which plays a licence fee
inclusive of service charge.

Company sale:
The freehold of the property is owned by Droitwich H. C. Limited and 100% of issued share capital of this company is owned by Droitwich Investments Limited. The purchaser will therefore upon completion acquire 100% share ownership of Droitwich Investments Limited. Full details of the sale process can be viewed within the legal pack available to download free of charge but evidently the sale of the company provides the purchaser with very significant SDLT saving.

VAT:
The asset is elected for VAT however no VAT is charged to the two GP tenants who provide exempt services because the option to tax is disapplied under Anti Avoidance Legislation.







Important Notice:
For each Lot, a contract documentation fee of £1000 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.



1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.

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lot infomation last updated: 21st January 2019 at 10:52 AM

what's next?

Before making an offer or attending the auction to bid, we recommend that you visit the property, check all of the contents of the legal pack and where appropriate ask your solicitor to check this too. You also need to ensure you have means to pay the deposit, our contract documentation charge and have the funds available to meet the full purchase cost on completion. For more information please read our buyers guide.
1
arrange a viewing
We arrange open house viewings on many lots or have arranged for local agents to hold keys. Some viewings may be external only and properties with tenants may not be available to view internally.
2
check or show your lawyer the legal pack/s
Click the "Legal Docs" button at the top of this page to download the legal pack for this lot. If the pack is not yet available just save the Lot to “my lots” and we will contact you as information becomes available or gets updated.  Please also review the general conditions of sale which are applicable to every lot.
3
arrange the needed funds
Ensure you have means to pay the deposit, our contract documentation charge and have the funds available to meet the full purchase cost on completion. Click here to visit service providers that may be able to help you.
4
schedule the auction in the diary
Add the auction to your online calendar or diary. When attending in person, be sure to arrive in good time in order to register. We suggest you arrive around one hour prior to the lot being offered.
5
register to bid / telephone bidding
You can bid by attending the auction in person or we can arrange for you to bid by telephone or you can instruct us to bid for you by proxy. Get started and register today.