Commercial Property
The property comprises a two storey commercial building of traditional brick construction surmounted by a flat roof which is split to provide two separate units.
A ground floor industrial workshop benefiting from a roller shutter and 3 phase electricity supply (not inspected) extending approximately 670 sq.ft. (62 sq.m.).
The first floor accommodation is accessed via a separate side entrance and comprises a storage area and wc, and extends approximately 670 sq.ft. (62 sq.m.).
A two storey unit which is currently configured as storage area to the ground floor extending approximately 190 sq.ft. (18 sq.m.).
To the first floor which is accessed via an internal staircase there is further storage area along with wc and shower facilities, extending approximately 190 sq.ft. (18 sq.m.).
We would consider Unit 2 suitable for conversion to living accommodation subject to obtaining appropriate planning consents.
The property is freehold and subject to the following tenancies:
Unit One is let on a 3 year FRI lease dated 25/12/2018 at a rent of £12,000 per annum.
Unit Two is let on a 3 year FRI lease dated 20/12/2018 at a rent of £4,800 per annum.
The property is located off Berkeley Road and lies behind 1110 Coventry Road.
Birmingham city centre is located 4 miles to the west with Birmingham International Airport a short distance to the east.
The local area comprises a mix of residential and commercial dwellings with a number of fast food and other local retailers in the immediate vicinity. An Asda Superstore, KFC and Next store are all within a quarter of a mile of the unit.
We understand that VAT is not 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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