281-281A Church Road, Sheldon, Birmingham, B26 3YH

Freehold mixed use property in Sheldon

Guide price*

£100,000+

Plus fees

Sold prior to auction, for an undisclosed amount

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Lot 106 Commercial Investment Mixed Use Residential Investment
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Auction details:

Thursday 27th October 2022 @ 09:30AM

Live-streamed Auction

A Freehold Mixed Use Investment Property Within A Popular Neighbourhood Shopping Area Current Rental Income £11,140 PA

Property Description

The property comprises a ground floor retail unit with a self contained duplex maisonette above. The shop is configured to provide a main sales area, rear office/store, rear year, lock up storage unit. 281A is accessed from the rear via a communal staircase. There is on the first floor a hall entrance, kitchen, lounge whilst on the second floor there are two bedrooms and a bathroom. The living accommodation benefits from gas central heating and UPVC windows.

Location

The property occupies a prominent position in a parade of retail units fronting the eastern side of Church Road, near to it's junction with The Radleys and Brays Road.
Standing within a busy local neighbourhood shopping area the property is considered suitable for a variety of alternative retail uses subject to any necessary planning permission.
Sheldon is a well established and popular east Birmingham suburb within easy access of Birmingham International Airport, Train Station and the midland motorway network.

Energy Performance Rating

See legal pack.

Council Tax Band

281a- A

Tenure

The property is freehold, subject to the following informal arrangements.
281- Retail Unit. Currently occupied at a rental of £430pcm (£5,160 per annum)
281a- Currently occupied at a rental of £115 per week (£5,980 per annum)
We have not had sight of any legal documentation relating to the existing arrangements however it is felt that there is potential to create a more formal arrangement and possibly an increase in the rental income.

Value Added Tax

For clarification in respect of whether or not VAT will be chargeable on the purchase price please refer to the Legal Pack.

Auctioneer's Note

Please note no offers will 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.
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.

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 £1,680 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.

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