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1 Ryders Green Road, West Bromwich, B70 0AN

Lot no: 80 Sold at Auction for £200,000
 

Guide Price in excess of £200,000 plus fees

Unconditional with Fixed FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1500, and completion must take place within 30 days, unless the Special Conditions of Sale state otherwise.

Wednesday 24th October 2018

10.30am
Key Features
  • A Freehold Part Let Commercial and Residential Investment Property
  • Current Gross Income: £17,600 pa
  • Potential Gross Income: £37,000 pa (approx.)
  • EPC Rating: See Legal Pack.
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Sold at Auction for £200,000

Commercial Property

Property Description:

The property comprises a former public house converted into two commercial units along with with living accommodation consisting of four rooms with shared facilities. The three storey detached building is of brick construction surmounted by a pitched roof and benefits from parking for five vehicles. To the rear of the property is a substantial yard with vehicular access along with an entrance to the cellar which is currently configured for storage.

Accommodation

The first commercial unit is occupied by a Beauty Salon with a trading area of approximately 355 sq.ft. (33 sq.m.) benefiting from separate entrance, WC and access to the yard at the rear of the property.

The second commercial unit will be vacant upon completion and benefits from a trading area of approximately 731 sq.ft. (68 sq.m.), roller shutters, WC and access to the yard at the rear of the property.

The first floor accommodation is accessed by a separate entrance and comprises of shared kitchen and bathroom facilities along with four double sized rooms.

The second floor accommodation consists of two rooms currently configured for storage.

Planning

Planning Permission for alterations to convert to a five bedroom HMO and ground floor flat was granted on 24th August 2016 under Application No. DC/16/59331.

Location

The property is located on the busy Ryders Green Road sitting adjacent to the canal locks. Great Bridge High Street is less than a mile away with the A41 Black Country New Road nearby.
The area is a mix of commercial and residential use.

Tenure

Retail Unit 1
Currently let on a 12 month term commencing 1st October 2017 with a rent passing of £7,200 per annum.
Retail Unit 2
Currently owner occupied and will be availble with vacant possession upon completion.
Room 1
Let on an Assured Shorthold Tenancy of £100 per week including bills.
Room 2
Let on an Assured Shorthold Tenancy of £100 per week including bills.
Room 3
Vacant possession will be given upon completion.
Room 4
Vacant possession will be given upon completion.

Value Added Tax

We understand that VAT will not be chargeable on this transaction.

Viewings

Strictly by arrangement with the Auctioneers.

Joint Agents

Bond Wolfe

Tenure:

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.