100-102 New Road, Rubery, B45 9HY
Mixed use investment in Rubery
Guide price*
£575,000+
Plus fees
Unsold
Lot information
Commercial Investment
Residential Investment
Auction details:
Wednesday 14th December 2022 @ 09:00AM
Live-streamed auction, you must pre-register to bid via our website with remote bidding online, by telephone or proxy
A Freehold Fully Let Mixed Use Investment, Producing £42,090 pa.
Property Description
The property comprises two ground floor retail units currently let and trading as a hair salon and a pharmacy. Additionally, there are four 2 bedroom self-contained apartments to the first floor, set over 2,501 sq.ft. ( 232.34 sq.m). The property benefits from on site car parking to the fore.Location
Rubery is a busy urban settlement situated approximately 8 miles to the south of Birmingham City Centre with access off the main A38. Bromsgrove Town Centre is situated approximately 5 miles to the southwest and Redditch Town Centre is situated 7 miles to the southeast. Rubery has excellent motorway access with Junction 4 of the M5 motorway being approximately two miles to the southwest with Junction 1 of the M42 motorway being approximately three miles to the south. Rubery has excellent bus routes to Birmingham City Centre and to Bromsgrove and to Redditch town centres and Rubery itself is recognised as a busy retail suburbancentre.
The property is situated fronting yet set back from the main New Road close the retail centre of Rubery.
Accommodation
100 New Road: A ground floor retail unit extending to approximately 505 sq.ft. (46.9 sq.m)102 New Road: A ground floor retail unit extending to approximately 1343 sq.ft. (124.8 sq.m)
First Floor: Four 2 bedroom self-contained apartments.
Energy Performance Rating
C & D.Tenure
Freehold – Subject to the existing tenancies.Value Added Tax
We understand VAT is not applicable on this transaction.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.Tenant Profile
Renaissance Art of Hair – A full-service hair salon that has been trading for over 16 years.Knights Chemist Limited – An independent pharmacy trading since 1984 , with over 90 pharmacies across the UK
Viewings
Strictly by appointment with the Auctioneers.Tenancy
| Room | Term | Rental |
|---|---|---|
| 100 New Road: | Hairdressers T/A Renaissance Art of Hair - Expiring April 2025 | £6,500 pa. |
| 102 New Road: | Pharmacy - Knights Chemist Ltd - Expiring July 2036 | £12,250 pa. |
| Three Flats (Upper) | All ASTs | £23,340 pa. |
| Flat 4: | Vacant | |
| Total Income: | £42,090 pa. | |
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.
