Commercial Property
The property comprises a two story semi-detached building of brick built construction surmounted by a pitched roof. Scope for redevelopment to a ground floor retail unit with living accommodation above.
The ground floor accommodation comprises a retail unit occupied by a flooring company and consists of a front trading area of approximately 240 sq ft (23 sq m) with roller shutters, two further storage areas with a combined internal area of approximately 386 sq ft (35 sq m). The first floor accommodation is accessed by an internal staircase leading to two storage rooms both having gross internal areas of approximately 225 sq ft (21 sq m).
The property benefits from a good size car park with access to Louise Street.
The property occupies a prominent position on Louise Street close to arrange of amenities such as a florist, hair dressers, restaurants, post office and convenience store. Gornal Wood lies approximately 2.5 miles to the west of Dudley and approximately 10 miles from Birmingham city centre.
We understand the property is let to J W Flooring Ltd on a 3 year lease with effect from 01/05/2016 to 30/04/2019 with a current rental income of £8,700 per annum.
We have not had sight of the lease documentation, a copy will be available for inspection within the legal pack.
We understand that VAT will not be chargeable on this transaction.
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.
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