355 Hagley Road, Edgbaston, Birmingham, B17 8DL
Freehold mixed use investment opportunity in Edgbaston
Guide price*
£550,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Wednesday 30th March 2022 @ 09:00AM
A Freehold Fully Let Mixed Use Investment Current Gross Income: £46,380 pa.
Property Description
Comprising ground floor retail unit measuring 874 sq.ft., with circa 1,000 sq.ft. further in office and storage space, currently producing £12,000 pa with 19 years unexpired. Rent review in 2023 with £18,000 pa likely thereafter. Further 5 apartments above with shared living space producing £34,380 pa. Planning permission has been approved for the residential units to be granted HMO license. Potential to develop 1-bed flat on flat roof to rear.Location
The property is located on the ever-busy A456 Hagley Road in Edgbaston, Birmingham with plenty of passing trade and direct links to the nearby A38 leading to national motorway network.Accommodation
Ground Floor Retail Total 1,436 sq.ft. (excluding basement) plus x4 parking spacesResidential 5-bed HMO 1,636 sq.ft.
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancies.Planning
Planning permission was granted for a five bedroom HMO on 24/12/2018 under the application number 2018/08571/PA.Value Added Tax
VAT my or may not be applicable. All purchasers should refer to the legal pack in this regard.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.Tenancy
| Room | Term | Rental |
|---|---|---|
| Ground Floor Shop: | £1,000 pcm - £12,000 pa. | |
| Room 1: | £495 pcm - £5,940 pa. | |
| Room 2: | £575 pcm - £6,900 pa. | |
| Room 3: | £595 pcm - £7,140 pa. | |
| Room 4: | £625 pcm - £7,500 pa. | |
| Room 5: | £575 pcm - £6,900 pa. | |
| Total Rental Income: | £3,865 pcm - £46,380 pa. | |
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.
