Yew Tree Cottage Indian Restaurant, 43 Stoney Lane, Yardley, Birmingham, B25 8RE

Restaurant investment with living accommodation above in Yardley

Guide price*

£280,000+

Plus fees

Withdrawn

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Lot 48 Commercial Investment Residential Investment
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Auction details:

Thursday 27th October 2022 @ 09:30AM

Live-streamed Auction

A Freehold Extensively Extended And Well Established Restaurant Investment Property Together With Living Accommodation On The First Floor Current Rental Income £28,000 PA

Property Description

The property comprises a two storey end of terrace with an extensive single storey extension to the rear, which has been trading as the Yew Tree Indian Restaurant since first opening in 1979. The property comprises on the ground floor a well presented 60 cover restaurant with bar area, customer WC's, large well equipped commercial kitchen, stores/stock room, staff WC. On the first floor there is self contained living accommodation comprising a lounge with kitchen area off, two double bedrooms both having en suite shower room, and WC facilities.

Location

The properties lies to the western side of the main A4040 Stoney Lane within the well established and popular east Birmingham suburb of Yardley near it's borders with Solihull, and a short distance north of the Swan Island and Yew Tree retail park.
The property benefits from an excellent trading location for it's existing use with both immediate catchment area for trade and passing trade and has been established for an excess of 40 years.

Energy Performance Rating

See legal pack.

Tenure

Freehold. Subject to a lease for a term of 15 years commencing on the 1st September 2022 at an initial rent of £12,000 per annum and having 3 yearly rent reviews.
The first floor living accommodation is let by way of two assured shorthold tenancies at £8,000 per annum each.
Full documentation in respect of the lettings will be available within the legal pack.

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 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.
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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