Land at 252 Duchess Parade, High Street, West Bromwich, B70 7QG
Residential development opportunity in West Bromwich
Guide price*
£1.5m
Plus fees
Sold prior to auction for an undisclosed amount.
Lot information
Land/Development
Auction details:
Wednesday 14th December 2022 @ 09:00AM
A Freehold Residential Development Opportunity with Planning Consents
Property Description
A prominent cleared corner site extending to approximately 0.071 hectares (0.175 acres). The site benefits from full planning consent for the development of 60 apartments and one commercial unit. There is no affordable housing requirement or section 106 and full supporting documentation of the proposed scheme is available from Bond Wolfe upon request.Location
The property is situated on the south side of the High Street, at its junction with St Michael Street. A number of shops, bars and restaurants are available in immediate vicinity and the New Square Shopping Centre is also close by West Bromwich Central metro station is situated within close proximity which provides quick and easy access to both Birmingham and Wolverhampton city centres. The High Street leads onto the A41 which provides direct access onto the M5 motorway. West Bromwich bus station is also within easy walking distance.Tenure
Freehold.Planning
Under application number DC/21/65798 on 18th January 2022, planning consent was granted for a proposed nine storey mixed use development comprising of 1 No. retail unit at ground floor and 60 No. apartments over eight floors. All supporting documentation is available upon request or via the Sandwell Metropolitan Borough Council planning website.Services
Mains services are understood to be available in the vicinity of the site, but prospective buyers should make their own independent enquiries as to the suitability of services for their particular requirements.Plans/Aerial Photographs
Any plans provided with these particulars are for identification purposes only and their accuracy is not guaranteed.Value Added Tax
We understand VAT is applicable on this transaction.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.Accommodation
[b]The Proposed Accommodation Schedule is as follows:-[/b] Ground Floor Commercial Unit - 2,623 sq.ft. (243.70 sq.m.) The residential provision within the building will be formed by a combination of 1 and 2 bedroom apartments, with a GIA of 25,831 sq.ft. (3,330 sq.m.). The proposed mix of these is as follows:-| Sq.m. | Sq.Ft. | |
|---|---|---|
| 29 | 1 Bedroom Apartments | 2 Person Apartments |
| 27 | 2 Bedroom Apartments | 3 Person Apartments |
| 4 | 2 Bedroom Apartments | 4 Person Apartments |
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.
