Mixed Use
The property comprises a three storey brick built mid terrace building surmounted by a pitched roof located on Waterloo Road.
The ground floor comprises of a retail unit fronting Waterloo Road benefiting from roller shutter with a gross internal area of approx. 365 sq foot (34 sq m). To the rear of the unit are separate wc and hand wash facilities.
To the rear of the ground floor is a storage area that is currently configures to provide living accommodation with two bedrooms, kitchen, bathroom and lounge along with separate access via the front and rear of the building. Gross internal area 675 sq ft (63 sq m).
First and second floor accommodation is accessed via a staircase to the front of the building and contains a one bedroomed apartment with kitchen and bathroom and is decorated to a high standard.
The property is located in a prominent position fronting Waterloo Road Cape Hill, Smethwick. The area comprises a vibrant mix of local and national retailers alike and is located a few miles from Birmingham city centre.
We understand the property is Freehold and is being sold subject to existing tenancies.
Ground Floor Retail Unit: Secured on a three year lease with approximately 2 years unexpired term at a current rent passing of £8,100 per annum.
Ground Floor Unit: At a current rent passing of £495 pcm.
First and Second Floor Residential Accommodation: At a current rent pasing of £480 pcm secured on a rolling basis.
Further details and copies of agreements will be available for inspection within the legal pack.
We understand that VAT will not be applicable.
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.
