Commercial Property
The property comprises a two storey mid terrace of brick construction with a pitched tiled roof and having a surfaced parking forecourt to the front.
The accommodation is currently configured to provide on the ground floor a self-contained retail unit with ancillary stores, a self contained bedsit flat with rear access and a self-contained first floor flat having access from the frontage.
The property occupies a prominent position fronting the eastern side of the main A4040 Fox Hollies Road near its junction with Hartfield Crescent.
Standing within a well established parade of similar properties, in the popular suburb of Acocks Green, close to its borders with Hall Green and Solihull.
Within the immediate vicinity, there is a good mix of local retailers, other commercial uses, a Lidl Foodstore and Esso Petrol Filling Station.
The property is considered to benefit from an excellent immediate catchment area for trade, in addition to a high volume of potential passing trade.
We understand that the property is Freehold, subject to the following tenancies:-
296a Bedsit Flat - Let by way of an Assured Shorthold Tenancy, at a rental of £290 per calendar month (£3,480 per annum).
296 First Floor Flat - Let by way of an Assured Shorthold Tenancy, at a rental of £475 per calendar month (£5,700 per annum).
298 Retail Unit - Let by way of a six year Lease, with effect from 1st January 2015, at a current rental of £7,000 per annum.
There is a provision for a rent review on the 1st January 2018.
The property is used as a Nail Bar and the existing Tenants are established, having been in occupation for 10 years.
Further information and copies of the tenancy agreements will be available for inspection within the legal pack.
We understand that VAT will not be chargeable upon this transaction.
Strictly by arrangement with the Auctioneers.
Freehold. Commercial investment.
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.
