Apartment
CASH BUYERS / INVESTORS ONLY! An opportunity to purchase this well presented City Centre pad with parking space which is within minutes walk to the Bullring. For those of you that are not so familiar with the area, it is worth noting that The Arcadian Centre is located within walking distance to the planned HS2 train station at Curzon Street, as well as New Street and Moor Street Stations. The development is also located within the area which will become known as Birmingham Smithfield, which is undergoing one of the largest City Centre regeneration schemes in history worth £1.5 billion. So if you're looking for capital growth then this could prove to be a sound investment.
The property is currently let until September 2021 generating £650pcm which gives a generous return of 7% based on guide price.
Here are some links with further information on the regeneration scheme:
www.birminghammail.co.uk/news/local-news/spectacular-new-images-birmingham-smithfield-15652013
www.birminghambeheard.org.uk/economy/birmingham-smithfield-masterplan/supporting_documents/Smithfield%20Masterplan%20Screen%202.3.16.pdf
Balcony
Underground Parking Space
Leasehold.
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 Variable Fee (England and Wales).
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 fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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 Price
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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