Commercial Property
The property comprises a two storey mid terraced former bank premises of brick construction under a flat roof.
The ground floor comprises a former banking hall, interview rooms and office accommodation and has been extended to the rear to provide a strong room, male and female WCs, ancillary stores and boiler room. The first floor which benefits from a separate front door access and can also be accessed from the rear via an external fire escape was previously used as office and meeting rooms, and is currently used by a tutoring company.
The property benefits from a central position in Blackheath's main retail pitch on the High Street, between Bell Street and Short Street junctions. The majority of occupiers in Blackheath are a mix of local independent retailers, however there is national and regional representation with William Hill, Iceland, Greggs, The Card Factory and the West Bromwich Building Society all within the general vicinity.
Blackheath is a Black Country suburban town located approximately 7 miles to the west of Birmingham City Centre.
We understand the property is Freehold and vacant possession will be given upon completion, of the ground floor.
The first floor is let to a tutoring company at £7,500 per annum, the Lease expires on the 27th September 2018 and is contracted outside the Landlord &Tenant Act.
Ground Floor: 2,297 sq.ft. (213.36 sq.m.)
First Floor: 1,483 sq.ft. (137.81 sq.m.)
Total NIA: 3,780 sq.ft. (351.17 sq.m.)
We understand that VAT is not chargeable on this transaction.
Strictly by arrangement with the Auctioneers.
GVA
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.
