Commercial Property
The property comprises of a former Mill converted into five commercial and nine residential units.
The three storey detached building is of brick construction with a pitched tiled roof and is situated in a prominent position benefiting from parking to the rear and separate access for residential units.
Situated on Spring Head the property is located in a prominent position close to the centre of Wednesbury benefiting from a large amount of passing trade.
In the immediate vicinity are small retailers and a Connells Estate Agency. The locality benefits from a Post Office, a number of high street banks along with restaurants and bars.
We understand the property is Freehold and is being sold subject to the existing tenancies.
We are advised that VAT will be chargeable on the commercial element, all interested parties should refer to the legal pack for full details and satisfy themselves as to the proportional split.
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.
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