Mixed Use
The property consists of a detached three storey building of brick construction.
The ground floor is occupied by a popular Chinese alternative medicine retail shop with a prominent frontage, trading area, wc and cellar and benefits from roller shutters along with space for parking to the rear.
The first and second floors are accessed via a separate entrance and comprise of landing, kitchen, living room, bathroom, bedroom and storage space.
We feel there is scope to increase both rents in line with inflation and potentially convert the building into a dedicated residential dwelling or two apartments subject to obtaining the appropriate planning consent.
We have been advised that the tenants have both been in occupation for many years and are currently on a rolling basis.
The commercial unit is currently paying £5,100 per annum with the residential tenant paying £350 per calendar month. We would advise interested parties to inspect the legal pack for more information.
The property is located Along Albion Street on the junction with Moor Street Brierley hill. The local area is mainly residential housing with considerable regeneration taking place. The merry hill shopping centre and Russell Hall hospital are both accessible by bus links. Brierley Hill High Street is within walking distance.
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.
