Mixed Use
A freehold mixed use investment opportunity currently let producing £18,900 per annum.
The property is located along Wheel Lane, Lichfield, within a popular parade of commercial units and within a wider up market residential location, a few minutes drive to Lichfield City Centre.
The ground floor retail shop is let on an existing lease to the current tenant operating as a hair and beauty salon for 3 years from from January 2023 at £875 per month. There is a two bedroomed apartment above currently let at £700 per month on a periodic tenancy.
Accommodation:
Ground Floor Retail Shop
With two spacious areas and wash facilities to rear.
Front Area
5.14 x 5.14 (16ft 10 x 16ft 10)
Rear Area
2.85 x 5.14 (9ft 4 x 16ft 10)
Store Area
With facilities.
First Floor
Two Bedroomed Apartment.
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
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 3.6% of the purchase price (subject to a minimum of £6,000 inc. VAT).
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.
