Commercial Property
The property comprises a three storey end terrace of brick construction surmounted by a pitched roof. The ground floor commercial unit is occupied by Tandis Hair & Design Salon and can be accessed via Vicarage Road and from a separate entrance off Kings Road.
The commercial unit consists of a fitted Hair Salon with WC and wash facilities along with partitioned treatment room and occupies a trading area of approximately 570 sq.ft. (53 sq.m.).
The unit benefits from a cellar currently configured to offer further beauty treatment and storage facility.
To the rear the property there is a courtyard with access to the living accommodation via Kings Road.
Unit 1 - One Bedroom Apartment with separate Bedroom, Bathroom and open-plan Kitchen Diner.
Flat 1 - One Bedroom Apartment with separate Bedroom, Bathroom and open-plan Kitchen Diner.
Flat 2 - One Bedroom Apartment with separate Bedroom, Bathroom and open-plan Kitchen Diner.
Externally prime site rent and advertising board located to the forecourt of the property along Vicarage Road.
The property lies on Vicarage Road at its junction with Kings Road and occupies a prominent end of terraced position providing highly visible frontage along Vicarage Road and Kings Road.
The locality consists of a number of local retailers including a Co-op Convenience Store.
The property lies approximately 1 mile from Kings Heath High Street and approximately 5 miles from Birmingham city centre in a poopular predominantly residential area with Vicarage Road serving as a busy local route.
We understand the property is Freehold and is being sold subject to the following tenancies:-
295 Vicarage Road - Let on a 15 year Lease from the 10th August 2018 to the 9th August 2033 at a rent passing of £10, 200 per annum.
Unit 1 - Let on an Assured Shorthold Tenancy from the 10th April 2018 for a term of 6 months at a rent of £375 per calendar month.
Flat 1 - Let on an Assured Shorthold Tenancy from 6th January 2018 for a term of 12 months at rent of £450 per calendar month.
Flat 2 - Let on an Assured Shorthold Tenancy from 21st August 2018 for a term of 6 months at a rent of £450 per calendar month.
Prime Site Advertising Board - Let for a term of 10 years from January 2017 at a rent of £300 per annum.
Copies of the Lease documents will be available for inspection within the Legal Pack.
We understand that VAT will be chargeable on this transaction.
Strictly by arrangement with the Auctioneers.
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.
