2-6 Belchers Lane, Birmingham, B8 3EU
Mixed Use Investment Opportunity in Birmingham
Guide price*
£445,000+
Plus fees
Unsold
Lot information
Commercial Investment
Mixed Use
Residential Investment
Auction details:
Thursday 15th September 2022 @ 09:30AM
Live-streamed Auction
A Fully Let mixed use Investment Opportunity, comprising 5 retail units and 2 self-contained flats Current Gross Income: £39,000 pa.
Property Description
The property is located just off the main Alum Rock Road in Birmingham. There are five retail shops in total to the ground floor and two x 2-bedroom flats on the first floor. The shops are all glass fronted with window space for displays and arranged as an in-plaza style with communal Wc and kitchen facilities. There are parking spaces outside the shops and a rear access for deliveries. Each of the shops is approximately 150 sq. ft.Location
The property is situated on Belcher Lane at the junction with Pelham Road in a mixed business and residential location. The property is approached from the main Alum Rock Road, Washwood Heath Road and the A4040, which is easily accessible from M6, M5 and M42 on the motorway. It is located east to the Birmingham City Centre in an established location. It is placed ideally for all communications in the local area. There are ample local businesses and residential homes within walking distance proving to be an excellent location for passing trade.Accommodation
Ground Floor: Five Separate Retail Outlets.First Floor: Two x 2 Bedroom Self Contained Flats, each with Lounge, Kitchen and Bathroom.
Outside: Parking to the Front and Rear Delivery Access.
Energy Performance Rating
D.Tenure
Freehold – Subject to the existing tenancies.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
Strictly by appointment with the Auctioneers.Tenancy Details
| Unit | Term | Rent | Tenant | Comments |
|---|---|---|---|---|
| UNIT | TENANT | MONTHLY RENT | RENT PER ANNUM | COMMENTS |
| A | Nehal Hijama Clinic | £400.00 | £4,800.00 | Rolling monthly Licence with 1 month notice. |
| B | Pelham Mobiles | $£400.00 | £4,800.00 | Rolling monthly Licence with 1 month notice. |
| C | Individual | £400.00 | £4,800.00 | |
| D | Shiraz Barbers | £500.00 | £6,000.00 | Licence for 48 months until 26/08/2025. |
| E | Imelda Hair & Beauty | £400.00 | £4,800.00 | Rolling monthly Licence with 1 month notice. |
| Flat 4 | Individual | £550.00 | £6,600.00 | |
| Flat 6 | Individual | £600.00 | £7,200.00 | |
| TOTAL RENT:[/B] | £39,000.00 | |||
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.
