Retail Property (High Street)
The property comprises a three storey retail unit of brick construction and part flat roof located in a highly prominent position along the Princess parade, High Street West Bromwich benefitting from A3/A5 planning permission. Total floor area extends to approximately 1,686 sq ft.
The ground floor accommodation comprises a substantial retail unit previously occupied by an off-licence benefiting from an electric roller shutter and extending approximately 1,000 sq ft (93 sq. meters). To the rear of the unit is a partitioned off area comprising kitchen facilities and WC along with access to a secure rear courtyard having vehicular access. The property has recently had new floor joists installed.
The first floor accommodation is accessed from the high street or rear service road via an internal staircase and comprises: Landing, two double rooms, under stairs storage and WC.
The second floor accommodation is accessed from the first floor and comprises: Landing and two double rooms.
Outside: Rear courtyard providing secure parking for multiple residential or delivery vehicles (292sqft / 27.20)sqm.
The property also benefits from a cellar. We feel that the property would lend itself well to a takeaway/delivery type operation owing to the secure compound and easy rear access. We would also consider the first and second floor suitable for conversion into residential use subject to obtaining the appropriate planning permission.
The property occupies a highly prominent position fronting Princess Parade, High Street, West Bromwich. The area comprises predominantly commercial and mixed-use accommodation with the local area having undergone regeneration in recent year. The property is accessible by vehicle via a service road to the rear. The property lies approximately 5 Miles from Birmingham city centre and a mile from the M5 motorway.
We understand that VAT WILL be applicable 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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