Commercial Property
The property comprises a mid-terrace part-two storey, part-single storey property of brick construction, arranged over ground and first floor, surmounted by a flat roof. The property has been extended to the rear by way of a single storey brickwork extension.
The property provides former banking hall, several cellular interview rooms / office accommodation, storage and strong room to the ground floor, with former staff room and male and female WC’s to the first floor.
Externally there is parking for circa 5 cars within the freehold boundary, situated to the rear, accessible via Park Street. The vendor are currently holding over on 2 leases in respect of land to the rear of 515 and 517 Foleshill Road, paying £575 p.a. and £1,200 p.a. respectively. The vendor has historically utilised this land for additional parking. Full details are available within the legal pack.
The property occupies a prominent position along Foleshill Road, a busy thoroughfare, and an established retail location. It links the A444 to the north with the A4053 Coventry ring road to the south. The property lies approximately 1 mile north east of Coventry City Centre, and benefits from on-street car parking immediately to the front exterior.
We understand that the property is held freehold.`
The property extends to approximately 2,484 sq.ft. (230.79 sq.m.).
All interested parties must seek their own verification of floor areas and dimensions and satisfy themselves that they are suitable for any proposed future use.
We understand that VAT will not be chargeable on this transaction.
All interested parties are advised to refer to the Special Conditions of Sale within the legal pack for their own verification.
The vendor is seeking landlord consent to assign their leasehold interests in the land to the rear of 515 & 517 Foleshill Road. Please see the legal pack for further information.
See viewing schedule.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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