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Lot 26

Freehold Investment – Gross Yield 11.9%
In the same family ownership for approx. 14 years
6 week completion

SITUATION

Located close to the junctions with New Street and Church Road on the main A491 thoroughfare just north of Stourbridge, within this established local parade approximately 6 miles west of Birmingham city centre with easy access to the M5 motorway (Junction 3).

PROPERTY

An end of terrace Locally Listed property comprising 2 Intercommunicating buildings (front and rear) used as a Dental Practice to include 5 separate dental surgeries and an x-ray room planned on ground, basement and first floors with gas central heating and uPVC double glazing.
In addition, the property also includes a Rear Garden.

ACCOMMODATION

Ground Floor
2 Dental Surgeries & Reception Area	Approx. 595 sq ft
Basement Store
Area	Approx. 155 sq ft
First Floor
3 Dental Surgeries, X-Ray Room & Kitchen Area	Approx. 485 sq ft
WC

Total Area	Approx. 1,235 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to Petrie Tucker & Partners Ltd as a Dental Practice (See Tenant Profile) for a term of 10 years from 24th September 2020 at a current rent of £13,046.38 per annum exclusive (see Note 1).

TENANT PROFILE

Petrie Tucker & Partners Ltd reported a T/O for Y/E 31/03/2024 of £46m, Pre-Tax Profit £13m and Shareholders Funds of £49.3m.
The company is a wholly owned subsidiary of Turnstone Bidco 1 Limited and Ultimately Integrated Dental Holdings Ltd who are one of the UK’s leading Dental Groups managing a network of over 600 dental practices providing services to around 2 million patients (Visit: www.mydentist.co.uk).

Note 1: The current rent is £10,240 p.a. rising to £13,046.38 p.a. from 24th September 2025 by way of an RPI linked rent review.

Note 2: The tenant has been in occupation for over 20 years.

Note 3: The tenant has not operated their September 2025 Break Clause.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

84 High Street, Wordsley, Stourbridge, West Midlands DY8 5SB