Leisure Facility
The property comprises a popular and well established sports bar and restaurant, trading as The Pitch.
The property comprises a spacious ground floor unit, extending to approximately 7,174 sq.ft. (666.48 sq.m.) fitted and configured to provide a modern well presented sports bar and restaurant, the property has been continuously used for this use for the last 20 years and is recognised as the leading venue of its type in Walsall.
The property occupies a prominent position within a well established parade fronting Bridge Street within the heart of Walsall Town Centre's business district, within the vicinity there are a number of professional offices occupied by local Accountants and Solicitors with Walsall County Court situated above the property. All local amenities, local and national retailers are situated within close proximity.
The Pitch is a popular venue within the town and is considered to occupy a strong trading position for its existing use.
We understand that the property is Freehold, subject to a Lease to Metro Bars Ltd for a term of 20 years with effect from 25th March 2015, at a current rent of £80,000 per annum.
Full details and a copy of the Lease will be available for inspection within the legal pack.
We understand that VAT is not chargeable on this transaction.
Strictly by arrangement with the Auctioneers.
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.
