Commercial Property
A three storey mid terraced building of brick construction providing a commercial unit along with residential dwellings above
A retail unit occupied by a Travel Agency configured with front retail space, rear office along with WC's leading to a second floor storage area.Total Area: 1,238 sq.ft. (114 sq.m.)
The first floor accommodation is accessed by a separate entrance from the ground floor with stairs leading to a landing giving access to a duplex flat containing lounge, kitchen along with stairs leading to the second floor landing, double bedroom and bathroom.
There is rear access and a double garage.
The property is located on Berry Street in the heart of Wolverhampton town centre. The area provides a mix of both national and local retailers with vehicular access and parking available within the immediate vicinity.
We understand the property is Freehold and is being sold subject to existing tenancies.
The retail shop is let at a current rental income of £24,000 per annum. The flat to the first and second floors is let on a Assured Shorthold Tenancy at £425 per calendar month - £5,100 per annum. The total income is £29,100 per annum.
Full Lease details will be available within the Legal Pack.
Strictly by arrangement with the Auctioneers.
Freehold. Subject to tenancy.
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.
