Commercial Property
The property comprises a prominent, formerly known as the Rendezvous Restaurant, which has in more recent years has been an Indian Restaurant.
The accommodation is currently configured to provide on the ground floor a bar area, waiting area and 60 cover dining area, with a large commercial kitchen and preparation area. There is a store room, staff WC and gents cloakroom.
On the first floor there is a function room with a further 60 covers and bar, ancillary stores and ladies cloakroom. At the rear and known as 40 Princess Alley, there are five attractive work studios over part ground and first floor, with a shared kitchen and WC.
On the second floor and with access from the rear, there are two spacious self-contained flats, each comprising hall entrance, kitchen, dining/living room, bathroom with WC, a double bedroom and two single bedrooms.
The property occupies a prominent frontage to Berry Street through to Princess Alley at the rear. The property is situated within the King Street, Princess Street and Queen Street area of Wolverhampton City Centre, lying at the rear of the Grand Theatre, with a good mix of pubs, restaurants and shopping within the immediate vicinity. Wolverhampton bus, railway and metro stations are all within close proximity.
We understand that VAT will not be chargeable upon this transaction, full details will be available within the legal pack.
This represents a rare opportunity to acquire a prominent freehold city centre building with longer term development potential, subject to obtaining any appropriate planning permission. The property has been in its current ownership since 1980.
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.
