10 & 10a Jowetts Lane, West Bromwich, B71 2QX
Freehold mixed use property in West Bromwich
Sold prior to auction, for an undisclosed amount
Thursday 9th February 2023 @ 09:00AM
A Vacant Freehold Retail Unit Standing In A Neighbourhood Shopping Parade, Having A Self Contained Residential Investment Above
Property DescriptionThe property comprises a detached part two storey, part single storey mixed retail/residential premises. The property is of predominantly brick elevations with pitched and flats roofs and has been extended. There is a small enclosed yard area to the rear accessed from Linton Avenue. Internally the property is currently configured to provide a good sized sales area with ancillary stores and staff area. The first floor comprises a self contained flat which has been occupied by the current tenant for many years.
LocationThe premises form part of a small parade of retail units with residential accommodation above within a well established residential neighbourhood. West Bromwich Town Centre is approximately 1 1/4 miles distant with junction 1 of the M5 motorway being approximately 2 miles to the South East.
The local parade contains a mix of occupiers and the property which was formerly used as a convenience store is considered suitable for a variety of retail uses subject to obtaining the appropriate planning permission.
AccommodationGround Floor Sales Area: 1,457sqft (135.4sqm)
Ancillary Stores/Staff Areas: 1,362sqft (126.5sqm)
We have not undertaken a measured survey of the premises and all interested parties should seek their own verification that the areas and dimensions are suitable for a proposed future use.
First Floor: A self contained flat comprising Two Bedrooms, Lounge, Kitchen and Bathroom.
Energy Performance Rating10- Retail Unit- C
10A- Flat- F
TenureThe property is freehold and vacant possession will be available of the ground floor retail unit upon completion.
The first floor flat is currently occupied by a tenant who has been in occupation for many years and is currently holding over at a rental of £435 per calendar month. (£5,220 p.a.)
Value Added TaxWe understand VAT is chargeable on this transaction, full details will be available within the Legal Pack.
Auctioneer's NotePlease note offers may be considered prior to the Auction Sale.
Remote Bidding AuctionThis 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.
ViewingsStrictly by appointment with the Auctioneers.
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.
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.