The Shambles, Wednesbury, WS10 7DA

3 storey commercial development opportunity

Guide price*

£165,000+

Plus fees

Withdrawn Prior

Lot 148 Commercial Vacant
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Auction details:

Wednesday 9th December 2020 @ 09:00AM

A Freehold Part Completed Town Centre Development Opportunity with Planning Permission for Two Retail Units and Two 2 Bedroom Apartments.

Property Description

The property comprises a three storey detached building of brick construction, surmounted by a flat roof. The property which benefits from planning permission for 2 retail units and 2 apartments, has been part developed, but requires a schedule of works to complete the consented development. The planning permission allows for 2 retail units on the ground floor. On the first floor there will be an apartment, having hallway, shower room/WC, two bedrooms, kitchen/living area. Whilst on the second floor there will be an additional apartment having the same accommodation.

Location

The property lies to the northern side of The Shambles, just off Market Place in the heart of Wednesbury Town Centre.
There is a mix of local and national retailers within the vicinity, offices and other commercial uses. To the rear of the property there is a car park.

Tenure

Freehold – Vacant possession upon completion.

Planning

Planning permission was granted by Sandwell Metropolitan Borough Council on 7th June 2019, planning reference no. DC/17/61163, for the development of two retail units with two apartments above on the first and second floors.

Auctioneers Note

This part completed development opportunity would suit a developer/investor and is considered to have a potential income of £30,000+ per annum, once completed and fully let.

Auctioneer's Note

Please note offers may be considered prior to the Auction Sale.

Remote Bidding Auction

This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.

Viewings

Strictly by appointment with the Auctioneers.
DISCLAIMER

Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

LIVE-STREAMED AUCTION

Please note that the Auction will be livestreamed via our website.  You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.

*DEFINITION OF GUIDE & RESERVE PRICE

All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

COSTS AT AUCTION

When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding.  They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,920 inc VAT (£1,600.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.  Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

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