Mixed Use
The property comprises a prominent two storey mid-terrace of brick construction, surmounted by a pitched tiled roof and divided to provide on the ground floor a retail unit with A3 consent, previously used as a well presented and popular cafe, with kitchen, stores and WC. There is a self-contained flat on the first floor, having access from the frontage and comprising a spacious lounge with open plan kitchen, double bedroom, shower room and having gas fired central heating, double glazing and off-road parking.
The property occupies a prominent position, standing within a parade of similar properties fronting School Road at its roundabout junction with Yardley Wood Road, within this well established suburb.
Within the immediate vicinity there is a good mix of local retailers, together with McDonalds, a Shell Petrol Filling Station and The Warstock Community Centre.
The property is considered to occupy an excellent catchment area for its existing use and also benefits from a high level of potential passing trade.
We understand that the property is Freehold and subject to the following leases:
Ground Floor: Vacant possession upon completion.
First Floor: Subject to an Assured Shorthold Tenancy commencing 9th February 2019 until 8th February 2020 producing £5,400 per annum.
We understand that VAT will not be chargeable on this transaction
Freehold.
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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