Mixed Use
The property is located in a prominent position and comprises an end-terrace three storey mixed-use dwelling of brick construction surmounted by a pitched roof.
The ground floor accommodation comprises two separate businesses. The part of the building which fronts Slade Road is a take away business accessed via an entrance on the corner of Slade Road and Rosary Road.
The business has a trading area of approximately 450 sq ft (41 sq m) along with a commercial kitchen with extraction unit, storage and wc facilities extending another 400 sq ft (37 sq m) and benefits from rear courtyard access and roller shutters.
Behind the take away is a tyre repair/sales business occupying a ground floor unit with office, storage and car repair space extending approximately 1250 sq ft (116 sq m) in total. This unit is accessed via Rosary Road.
The first and second floor accommodation is accessed via a metal staircase off Rosary Road and comprises utility room, six double bedrooms, two wcs, bathroom, kitchen and two living rooms.
The accommodation is currently let on a single AST however we feel that reconfiguration could take place to convert into an HMO subject to obtaining appropriate planning permission and regulations.
The property is located along Slade Road on its junction with Rosary Road, Erdington within a parade of mainly mixed-use buildings. The general area is predominantly residential dwellings with a high demand for rented accommodation due to its close proximity to Birmingham city centre being less than 3 miles away. The property benefits from good transport links via bus and train.
We understand the property is freehold and subject to the following tenancies:
The ground floor cafe is let on a lease commencing 02/03/16 to 01/03/18 currently on a rolling basis with a rent passing of £675 pcm.
The ground floor tyre sales shop is let on a lease commencing 11/06/11 to 10/06/21 with a rent passing of £350 pcm.
The first and second floor residential accommodation is let on a single AST commencing 14/04/19 to 12/07/19 currently on a rolling basis with rent passing of £1200 pcm.
The Auctioneers have not had site of the agreements and would advise interested parties to view the legal pack for further information.
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.
