Mixed Use
A three storey mixed use investment located on the popular Dudley Road benefiting from a current gross income of £10,200 per annum part let with potential of circa £20,000 when fully let.
The property comprises:
Currently occupied by the well-established Top Taste Caribbean Takeaway. The trading area extends 257 sq foot split with a partition wall. To the rear are kitchen facilities and wc along with an extraction system extending approximately 330 sq foot. There is rear access leading to a courtyard.
This is accessed via a separate entrance and staircase via Winson Street. The two bedroom flat is split over two levels with the first floor comprising a hallway, kitchen, bathroom and living room.
The upper level flat accommodation is accessed via a staircase leading from the first floor hallway and comprises a small landing and two double bedrooms.
The property is along the main Dudley Road, within a very busy area of both national and local retailers. The property is approximately two miles from Birmingham City Centre and benefits from good bus and rail links along with a large amount of passing trade. The nearby City Hospital provide a huge demand for housing.
We are verbally advised that the property is subject to the following tenancies:
391 Dudley Road - leased to Top Taste with a current rent of £10,200 per annum subject to a 10 year lease commencing 2015.
391A Dudley Road - Currently vacant.
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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