Commercial Property
The property comprises a mid-terrace former bank of traditional brick construction, surmounted by a pitched tiled roof, arranged over ground and first floor levels.
The ground floor comprises former banking hall, interview rooms, office accommodation, storage, WC and strong room.
The first floor provides former staff room, storage accommodation and WC. There is also a flat to part of the first floor which has been sold off on a long-leasehold basis.
There is public off-road parking available immediately to the front exterior.
The property lies to the northern side of the busy B4114 Washwood Heath Road, near to its junction with the A4040 Bromford Lane.
The property stands within a busy local retail parade near to the Fox & Goose Shopping Precinct and is situated approximately 4 miles north east of Birmingham City Centre.
870 Washwood Heath Road - Held Freehold under Title No. WM249144, as shaded pink on the plan. The first floor flat has been sold off on a 125 year lease commencing in April 2011. The freeholder is entitled to recover a ground rent of £100 p.a. The ground rent increases by £50 p.a. every 25 years.
868 Washwood Heath Road - Held Leasehold under Title No. WM883466 as shaded blue on the plan. The Leasehold Interest expires in September 2028. A rent of £12 p.a. is payable to the freeholder.
Full details and documentation relating to tenure will be available for inspection within the legal pack.
Ground floor: 1,755 sq.ft. (162.96sq.m.)
First floor: 507 sq.ft. (47.11 sq.m.)
Total NIA: 2,262 sq.ft. (210.07 sq.m.)
Please note that the areas stated above exclude the first floor flat.
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 Special Conditions of Sale within the legal pack for their own verification.
See viewing schedule.
Freehold. Vacant possession upon completion.
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.
