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'The Laurels' 65 Frederick Road, Stechford, Birmingham, B33 8AE

Lot no: 5 Sold at Auction for £790,000
 

Guide Price £350,000 plus fees

Unconditional with Fixed FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1500, and completion must take place within 30 days, unless the Special Conditions of Sale state otherwise.

Wednesday 18th October 2017

11.00am
Key Features
A Vacant Freehold Former Eighteen Bedroomed Residential Care Home and Associated Accommodation
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Sold at Auction for £790,000

Commercial Property

Property Description:

A purpose built two storey former eighteen bedroomed residential care home and associated ancillary office accommodation. Built in 1976 of traditional brick elevations and predominantly mono-pitched concrete tiled roofs. It is set back in communal grounds in a corner position and has a small car park to the rear together with two lock-up garages.

Ground Floor

Entrance Hall, Three Offices, WC, Lounge, Lift, Dining Room, Kitchen, Stores, Laundry, Boiler Room, Bathroom and Ten Bedrooms.

First Floor

Landing, Lift, Bathroom with WC, Eight Bedrooms, Games Room, Kitchenette and Two Staff/Assisted Living Flats comprising of Lounge, Kitchen, Two Bedrooms and Bathroom.

Outside

Communal Gardens, Car Park, Two lock-up Garages and a former Asian Women's Day Centre.

Tenure

We understand that the property is Freehold and vacant possession will be given upon completion.

Site Area

We understand that the site extends to 3,368 sq.m. (0.83 acres) or thereabouts.

Planning

The property offers potential for continued use as a care facility within the C2 or other compatible planning uses within use class D1. Alternatively the site may be suitable for a small residential development subject to obtaining the necessary planning consents. All initial enquiries can be made to Robert King or Lucy Berry at Birmingham City Council on 0121 303 3928.

Auctioneers Note

1. Please note that no offers will be accepted prior or post to the Auction.

2. The property will be sold on the understanding that the 10% deposit must be paid by a Banker’s Draft made payable to SDL Bigwood. No other means of payment will be accepted and failure to do so will result in the property being re-offered for sale.

3. In addition to the purchase price, the purchaser will be required to pay the Council’s professional fees of £1,750.

4. An Asbestos Report on the building is available from the Auctioneers offices.

Viewings

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.