Commercial Property
The property comprises a well presented, fully refurbished, Childrens Day Nursery within a detached building of two storey brick construction surmounted by a pitched roof and standing back behind a wide tarmacadam forecourt.
There is a single storey addition to the side and the accommodation is largely open plan on the ground floor with two further rooms and kitchen on the first floor.
We have not undertaken a full measured survey of the premises but understand the property extends to approximately 1,535 sq.ft. (142.60 sq.m.).
The premises occupy a convenient position fronting Ulverley Green Road within the popular Solihull suburb of Olton, and being located just off the main A34 Warwick Road, approximately 2 miles north of Solihull town centre, and only a short walk from Olton Railway Station.
The property is considered to occupy an excellent location for its existing use as a Childrens Day Nursery.
We understand the property is Freehold subject to a full repairing and insuring Lease for a term of 10 years with effect from 31st July 2016 to, Bright Swans Day Nursery (UK) Ltd with a guarantor and rent deposit.
The current rent passing is £24,000 per annum and is subject to upward only rent reviews every 3 years, and a break option in 2021.
We have not had sight of the Lease, however a copy 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.
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.