10-12 Market Place, High Street, Rowley Regis, B65 0HP

Freehold double fronted commercial investment in Rowley Regis

Guide price*

£137,000+

Plus fees

Sold prior to auction, for an undisclosed amount

Pound sign

Finance available on this property

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Lot 149 Commercial Investment
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Auction details:

Thursday 21st July 2022 @ 09:30AM

Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE & Live Stream

A Freehold Double Fronted Commercial Investment Opportunity Current Gross Income: £15,500 pa.

Property Description

The properties comprise of two ground floor retail units with parking to the rear, having a internal area of 735 sq.ft. (68.29 sq.m.) or thereabouts. Unit 10 forms a sales area of approximately 463 sq.ft. (43.01 sq.m.) and Unit 12 forms a total sales area of approximately 272 sq.ft (25.68 sq. m.). There is a small outhouse to the rear situated in the car park, also to be sold as vacant possession.

Location

The property located in the centre of Blackheath, situated opposite the local market, which has been occupation for over 100 years. The M5 motorway is a few miles north via junction 2 which provides access to all major road networks. Within the vicinity of the property there is a good mix of local and national occupiers including Coral, Greggs and Poundland.

Energy Performance Rating

E.

Tenure

Freehold – Subject to the existing tenancies.

Value Added Tax

All interested parties must refer to the legal pack in respect of VAT.

Auctioneer's Note

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

Viewings

The retail units are open for viewing within the trading hours.

Tenancy Details

Unit Term Rent Tenant Comments
Unit Tenant Term Rental PA. Rent £PSF
10 JA&N Foods - Guarantor A & J Foods Ltd 10 years from 21st January 2022. £9,000 until 29.08.22 and thereafter £10,000. £21.60
12 Smart World Midlands 3 years from 15th March 2021 to 15th March 2024. £6,500 £23.90
Both tenants have paid a three month rent deposit.
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 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.

HYBRID AUCTION

Please note that the Auction will be held at Aston Villa FC (Holte Suite), and livestreamed via our website.  If you cannot attend in person, you can take part remotely via Proxy, Telephone or Internet. If you wish to bid remotely you must pre-register via our website no later than 24 hours 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.

Remote bidding registration