Apartments 26-37 The Lanes Shopping Centre, Birmingham Road, Sutton Coldfield, West Midlands, B72 1YG
Block of 12 apartments in Sutton Coldfield
Guide price*
£950,000+
Plus fees
Sold for £1,045,000
Virtual tour
Lot information
Residential Investment
Auction details:
Thursday 9th September 2021 @ 09:00AM
A Long Leasehold Residential Investment Secured On A Block Of 12 One And Two Bedroom Apartments Current Gross Income £90,360 PA
Property Description
A four storey block of 12 apartments, 8x2 bedroom and 4x1 bedroom apartments situated over a shopping centre known as The Lanes.Accommodation
Second Floor: Communal Landing.Apartment 26: Hall, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.
Apartment 27: Hall, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.
Apartment 28: Hall, Reception Room, Kitchen, Bedroom, Bathroom/WC.
Third Floor: Communal Landing.
Apartment 29: Hall, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.
Apartment 30: Hall, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.
Apartment 31: Hall, Reception Room, Kitchen, Bedroom, Bathroom/WC.
Fourth Floor: Communal Landing.
Apartment 32: Hall, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.
Apartment 33: Hall, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.
Apartment 34: Hall, Reception Room, Kitchen, Bedroom, Bathroom/WC.
Fifth Floor: Communal Landing.
Apartment 35: Hall, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.
Apartment 36: Hall, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.
Apartment 37: Hall, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.
Outside: 12 Parking Spaces.
Each apartment has electric heating, UPVC double glazing and an intercom system. The building has a mains linked fire alarm system.
Energy Performance Rating
Flat 26- C, Flat 27- E, Flat 28- E, Flat 29- D, Flat 30-D, Flat 31-D, Flat 32-D, Flat 33-D, Flat 34-D, Flat 35- E, Flat 36-E, Flat 37-ETenure
We understand the property is leasehold with approximately 240 years remaining subject to an annual ground rent of £3,200.Auctioneer's Note
We understand that the Leaseholder of the block pays a capped Service Charge to the Freeholder of £1,000.00 Per Annum and furthermore that the Telecoms use on the roof of the building has been sold off on a 30 year lease and rights will return after this period to the purchaser.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
External viewings only.Tenancy
The property is being sold subject to the following tenancies.| Room | Term | Rental |
|---|---|---|
| Flat 26 | AST | £575pcm- £6,900 per annum |
| Flat 27 | AST | £650pcm- £7,800 per annum |
| Flat 28 | AST | £475pcm- £5,700 per annum |
| Flat 29 | AST | £675pcm- £8,100 per annum |
| Flat 30 | AST | £685pcm- £8,220 per annum |
| Flat 31 | AST | £595pcm- £7,140 per annum |
| Flat 32 | AST | £675pcm- £8,100 per annum |
| Flat 33 | AST | £675pcm- £8,100 per annum |
| Flat 34 | AST | £550pcm- £6,600 per annum |
| Flat 35 | AST | £675pcm- £8,100 per annum |
| Flat 36 | AST | £675pcm- £8,100 per annum |
| Flat 37 | AST | £625pcm- £7,500 per annum |
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.
