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12 and 12A Market Street, Kingswinford DY6 9JR

Auction Event
 

Guide Price £115,000 - £130,000 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 22nd August 2024

9.00am
Key Features
  • Council Tax Band: A
  • Guide price £115,000 - £130,000
  • Mixed use investment opportunity
  • Sought after location
  • Currently producing £15,740pa income
  • EPC Rating: E B
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Mixed Use

Property Description:

A mixed use investment opportunity located along Market Street in the sought after Kingswinford area offered let currently producing £15,740pa income.

The unit consists of a mid terraced two story building with a prominent frontage along Market Street.

To the ground floor is a well established Barber shop currently paying £10,000 pa. There may be scope to increase rents in line with current market levels. The unit is held on a 20 year term commencing 24/09/1999.

The first floor accommodation known as 12A is accessed from a door fronting Markey Street and comprises a residential apartment currently let on an AST for £5740pa, now rolling with original term for 6 months dated 23/09/2021.

The property is located in Kingswood, along Market Street a busy retail street. National retailers within the immediate vicinity include Superdrug, Greggs, HSBC and Boots. There are also several local operators including pubs bars and restaurants.

Flood Risk

Rivers and Seas No Risk. Surface Water Low.

Mobile Phone Coverage

O2, EE, Three and Vodafone are available.

Broadband (estimated speeds)

Standard 17 mbps Superfast 80 mbps Ultrafast 1000 mbps.

Satellite and Cable TV Availability

BT, Sky and Virgin are available.

Construction Material

Solid brick, as built, no insulation (assumed).

Note

Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.

Draft Sales Details

These sales details are awaiting vendor approval.

Tenure:

Freehold. Subject to tenancy.


Utilities Information
  • Heating Supply: Double Glazing, Electric
  • Electric Supply: Mains Supply
  • Water Supply: Mains Supply
  • Sewerage Arrangements: Mains Supply
Parking Arrangements

On Street



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 auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyers 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 Buyers 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.