Commercial Property
The property comprises a former public house previously known as The Globe, and is of a traditional brick construction with a pitch tiled roof. Internally the property is currently configured to provide a refurbished bar on the ground floor extending to approximately 1, 535 sq.ft. (142.66 sq.m.). Whilst on the upper floor and having direct access ofF Manchester Street, is a spacious student flat providing five modern student letting rooms, with shared living room, kitchen and shower room benefiting from UPVC double glazed windows and gas fired central heating. Outside there is a rear enclosed yard area together with a brick store.
The property occupies a prominent position situated at the junction of Blews Street and Manchester Street, which leads off the main B4114 Newtown Row, which provides direct access to Aston University approximately one quarter of a mile distant.
We understand that the property is Freehold subject to the following:
35 Blews Street - Ground Floor Bar
Let by way of a Lease for 7 years with effect from the 14th August 2017 at a current rent of £13,000 per annum. There is provision for the rent to rise to £14,300 per annum with effect from the 14th August 2018 and subject to review thereafter under the terms of the Lease.
35a Blews Street - First Floor
Let by way of an Assured Shorthold Tenancy Agreement with effect from the 1st July 2017 for 12 months, to five students collectively paying a rent of £2,391.52 per calendar month (£28,698 per annum).
We have not had sight of full documentation relating to the above, copies will be available for inspection within the Legal Pack.
We understand that VAT will not be chargeable on this transaction.
Strictly by arrangement with the Auctioneers.
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.
