581 Bearwood Road, Smethwick, B66 4BH

High Street Retail Investment in Smethwick

Guide price*

£565,000+

Plus fees

Sold prior to auction, for an undisclosed amount

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Finance available on this property

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Lot 200 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 Retail Investment Opportunity Let to Lloyds Pharmacy Current Gross Income: £42,750 pa.

Property Description

581 Bearwood Road comprises a mid-parade two-storey retail premises, with ancillary accommodation above and is currently occupied by Lloyds Pharmacy Limited.

Location

The property occupies a prominent position on the main A4030 Bearwood Road, which leads directly off the A456 Hagley Road. Bearwood is a thriving commercial and residential suburb and forms the southern part of Smethwick to the north of the Hagley Road (A456). The town is centred on Bearwood Road at the crossroads of Sandon Road and Three Shire Road, bordering the city centre, 4 miles (6.4 km) to the east. The town also benefits from excellent communications strategically lying within the motorway network which skirts the city (M5, M6, and M42).

Accommodation

Ground Floor: 1,827 sq.ft. (169.73 sq.m.)
First Floor: 857 sq.ft. (79.61 sq.m.)

Energy Performance Rating

See legal pack.

Tenure

Freehold – Subject to the existing tenancy.

Tenancy Details

The property is let to Lloyds Pharmacy Ltd from 5th March 2004 and expiring on 4th March 2024. The passing rent is £42,750 per annum.

Value Added Tax

We understand VAT is applicable on this transaction.

Tenant Profile

Lloyds Pharmacy Ltd is a leading community pharmacy and healthcare provider with over 1,400 pharmacies across the UK. They employ around 17,000 staff and dispense over 150 million prescription items every year.

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 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