Commercial Property
The property comprises a three storey mid terrace of brick built construction, surmounted by a pitched roof.
To the ground floor is a retail unit currently occupied by a barbers shop and comprising of retail space extending approx. 500 sq.ft. (46 sq.m.) partitioned to provide rear kitchen and WC facilities. The retail unit has been recently refurbished to a high standard and benefits from a roller shutter.
The residential units are accessed via a separate entrance to the side of the property and the accommodation comprises:-
Flat A - A duplex apartment accessed via an external stairway to the rear of the property. The apartment is split over the second and third floor and comprises of a kitchen, bathroom, one bedroom and living room. At the time of going to print, the Auctioneers were unable to inspect the property, therefore the accommodation should not be relied upon.
Flat B - A ground floor one bedroom apartment with separate kitchen, bathroom which is accessed from the rear of the property.
Flat C - A first floor bedsit with separate kitchen and shower room, accessed via a stairway to the rear of the property.
The property occupies a prominent position on the Halesowen Road, Netherton and the area comprises a mix of local and national retailers including Londis and Dominos and is approximately 2 miles from Russells Hall Hospital.
We understand the property is Freehold, subject to the following:-
Retail Unit - Let on an informal basis at £600 per calendar month to a hairdressing business. At the time of print, the Vendors are in the process of negotiating a one year Lease, full details will be available within the legal pack.
Flat A - Subject to an Assured Shorthold Tenancy holding over, at a rental figure of £369 per calendar month.
Flat B - Subject to an Assured Shorthold Tenancy holding over, at a rental figure of £375 per calendar month.
Flat C - Subject to an Assured Shorthold Tenancy holding over, at a rental figure of £345 per calendar month.
A copy of the Lease/Tenancy details 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. 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.
