Unit 2-3 George Street, Walsall, WS1 1RB
Freehold retail investment property
Sold for £184,000
Thursday 9th February 2023 @ 09:00AM
A Modern Virtual Freehold Town Centre Retail Investment Property Current Rental Income £20,000 PA
Property DescriptionThe property comprises a modern self contained retail unit benefitting from powder coated aluminium fully glazed shop frontage with roller shutter security grills. The unit extends to approximately 1,632 sqft. (151.6sqm).
LocationThe property stands in a parade of similar properties and forms part of the St Matthews Quarter located within Walsall town centre at the southern end of the High Street. The unit is adjacent to and linked by an open piazza to an Asda superstore, with immediate access to the largest multi storey car park in Walsall and having 41 apartment above.
St Matthew's Quarter is approximately 10 minutes from junction 7, 9 & 10 of the M6 motorway. There is excellent public transport within the vicinity with bus and train stations a short walk from the property.
Energy Performance RatingB
TenureThe property is long leasehold having approximately 984 years unexpired as such is to be regarded as a virtual freehold.
The property is let to a private individual trading as Simply Beds for a term of 5 years with effect from the 11/6/2021 at a current rent of £20,000 per annum.
We have not had sight of the documentation relating to letting or tenure, full details will be available for inspection within the legal pack.
Value Added TaxWe understand VAT is applicable on this transaction. For those who are VAT registered the intention would be to treat as a TOGC, full details 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.