The Former Old Red Horse, 52 Barras Green, Barras Heath, Coventry, CV2 4LY
Freehold former public house in Coventry
A Freehold Former Public House currently trading as a Restaurant with self-contained living accommodation on the upper floor Current Rental Income: £24,000 pa
Property DescriptionThe property comprises a two storey semi detached former public house, currently occupied by a Turkish Restaurant, Sofra Anatolia. The accommodation is currently configured to provide bar area, dining areas, kitchen, stores and WC's. Outside there is a courtyard and decked alfresco dining area with off-road parking to the front. On the first floor there is self-contained living accommodation comprising two bedrooms, lounge, kitchen and bathroom. The lounge is currently being utilised to provide a third bedroom. The property is considered suitable for a variety of alternative uses subject to obtaining any necessary planning consents.
LocationThe property occupies a prominent position lying to the eastern side of Barras Green, between its junctions with Coventry Street and Heath Road. The immediate area comprises a well established mix of retail, commercial and residential uses, lying approximately 4 miles north east of Coventry city centre.
Energy Performance RatingC
TenureThe property is Freehold subject to a Lease for 7 years with effect from the 31st January 2020 at a rental of £24,000 per annum.
A copy of the lease will be available for inspection within the legal pack.
Value Added TaxWe understand that VAT will not be payable on this transaction as the sale will be a TOGC, providing that the buyer makes a VAT election before completion, otherwise VAT would then become payable.
Full details will be available within the legal pack and all interested parties should undertake their own investigations in this respect.
Auctioneer's NotePlease note offers may be considered prior to the Auction Sale.
Remote Bidding AuctionThis 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.
ViewingsStrictly by appointment with the Auctioneers.
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 all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
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 £1,680 inc VAT (£1,400.00 + 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 is available to download free of charge under the ‘lot information’. 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.