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Pub in Cradley Heath

78 Waterfall Lane, Cradley Heath, B64 6RL

Lot no: 56 Property type: Pub Auction type: Unconditional with Fixed FeeWhere exchange occurs immediately on the fall of the gavel. The successful bidder will be legally obliged to exchange contracts, pay a 10% deposit (subject to a minimum of £5,000) together with the buyers fee of £1074 and complete within a set time period.

Guide Price* £145,000 - £155,000plus fees Result Sold at Auction £210,000



A two storey detached former pub partly converted into a three bedroomed property, beneftting from a substantial plot to the side suitable for development, subject to obtaining the appropriate planning permission.

Property Description

The property comprises of a detached two storey brick built former pub surmounted by a pitched roof, benefiting from a substantial plot to the side which could be used for building subject to obtaining the appropriate planning permission. The property also benefits from a driveway and rear garden along with a substantial cellar.

Ground Floor:

The ground floor accommodation comprises a large open plan living room along with kitchen with WC and storage facilities to the rear. There is also a food preparation area and fire escape at the rear of the property.

First Floor:

The first floor accommodation is accessed from an internal staircase leading to a landing area and is currently configured as two bedrooms, lounge and bathroom; however could be used as a three bedroom or even reconfigured as a separate apartment with separate entrance subject to obtaining any required planning permissions.

Outside:

Externally the property has a driveway to the front that leads to the rear of the property which benefits from a garden area that is mainly concrete and a number of ancillary outbuildings used as storage. A separate area is fenced off which was formally the pub car park. This area comprises a rectangular shaped plot on the corner of Grange Road and Waterfall lane, which would be suitable for development or could be sold off separately by a new owner subject to obtaining any appropriate planning permission.

Location:

The property is located on Waterfall lane and the corner of Grange Road In Cradley. The general area is predominantly residential with Black Heath and Halesowen approximately 2 miles away and the popular Merry Hill Shopping centre 3 miles away with the M5 Junction 3 less than 5 miles from the property.

Tenure:

We understand the property is freehold and vacant possession will be given upon completion.

Value Added Tax

We understand that VAT will not be chargeable on this transaction

Tenure

Freehold. Vacant possession upon completion.


Conditions of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

A 10% deposit is payable on the fall of the gavel, subject to a minimum of £5,000.

*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, 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. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of the Guide Price and the Reserve Price click here.

Energy Performance Certificates
EPCs can be viewed in full in the lot information section at the top of this page or in the legal pack.

Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or cheque deposits. Remote bidding facilities are also available.

Auction Fees
The sale of each lot is subject to a buyer’s fee of £1,074 inc VAT (£895 + VAT) (unless otherwise stated in the important notices), payable on the fall of the hammer.

The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the lot information section above. Or to find out more about any additional fees associated with this property please contact the auction office.