Restaurant
The property comprises a two-storey mid terraced building currently trading as the Saffron Pinks which is a licenced restaurant. The property has recently undergone a refit and benefits from a highly visible frontage on the traffic island connecting five main routes into the area.
The accommodation comprises a restaurant with 50 covers to the ground floor along with a bar area extending approximately 610 sq ft (56 sq m). There is a small food lift to bring food from the kitchen above (not tested) with a rear fire escape leading to the car park area.
The first floor accommodation comprises a recently refurbished kitchen with storage area and extraction system, along with male and female wc and a separate storage room extending approximately 165 sq ft (16m2).
Parking to the rear.
The property is located at 2 Bull Street and fronts a busy road island linking Gospel End Street, Ettymore Road, Wolverhampton Road, Mill Bank and Dudley Street. The area comprises a mixture of residential and commercial property with a building society and a hair salon on either side of the premises.
We are advised the property is freehold and will be offered with vacant possession. We have been verbally advised that some of the equipment will remain in situ but this cannot be verified by the auctioneer and we would recommend potential purchasers seek clarification as to what will remain within the unit upon completion.
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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