fbpx
My Favourites
Free sales valuation
To register for remote bidding in our next National Property Auction click here

116 Parsons Hill, Birmingham B30 3QP

Lot no: 72 Re-entry to a future auction
 

Guide Price £230,000+ plus fees

Unconditional with Variable FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of either 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Buyer’s Fee is subject to a minimum of £6,000. Completion must take place usually within 30 days unless the Special Conditions of Sale state otherwise.

Thursday 27th October 2022

10.00am
Key Features
  • Ready-to-go
  • Finished to a high standard
  • Potential for mixed use
  • Prime location
  • EPC Rating: E
Add to favourites
Re-entry to a future auction

Commercial Property

Property Description:


A freehold commercial unit located along Parsons Hill recently fitted out to a very high standard and which was trading very recently as Ruga Japanese Take Away / sit down restaurant.

The ground floor accommodation extends 525 sq.ft and comprises a seating area with trading counter / bar, disabled WCs along with 20 covers, laminate floor, feature lighting and roller shutters are also installed.

To the rear is a fully fitted out kitchen extending 374 sq.ft with new equipment including extraction unit, wash basins, gas hobs, under counter fridges, walk-in fridge and freezer. All equipment appeared to be new, and we have been verbally advised will remain upon sale.

The first floor accommodation comprises WC (10 sq.ft), shower/bathroom (35 sq.ft), room one (144 sq.ft), room two (145 sq.ft), room three (120 sq.ft) uPVC windows and laminate floor throughout.

Externally there is a service road to the rear along with large frontage.

The premises are located within a popular residential area benefitting from passing trade and convenient for use of delivery apps. We feel the lot would suit both an owner occupier subject to consent (prospective buyers must make all necessary independent enquiries in this respect for their specific, intended use prior to placing their bid, as this will be binding) or an investor with minimal to no work required to start trading.

Tenure:

Freehold. Vacant possession upon completion.



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.


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 and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.

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.


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.