345 Hagley Road, Edgbaston, Birmingham, B17 8DL
Freehold retail investment in Edgbaston
Thursday 18th May 2023 @ 09:00AM
A Prominent Freehold Retail Investment And Development Opportunity With Planning Permission, Fronting One Of Birmingham's Main A Roads
Property DescriptionThe property comprises a prominent three storey end terraced building within a parade of similar properties, but having the benefit of land to the side and front with development potential. The accommodation is currently configured to provide ground floor retail unit and basement with a separate internal access to ancillary accommodation on the first and second floors.
LocationThe property occupies a prominent position fronting the main A456 Hagley Road at it's junction with Fountain Road in the desirable suburb of Edgbaston, approximately 3 miles west of Birmingham City Centre.
The property is conveniently located for the extensive amenities available in Edgbaston, Harborne and the City Centre itself and is within easy access of the Queen Elizabeth Hospital and Birmingham University.
Energy Performance RatingSee legal pack.
TenureFreehold subject to an informal lease at a current rent of £1,125 per calendar month - £13,500 per annum.
PlanningThe property benefits from planning permission for the erection of a two storey side and rear extension and single storey rear extension to create two self contained flats and extension to the existing hot food takeaway. Application number 2020/02782/PA dated 06/11/2020.
Value Added TaxVAT is not chargeable on this transaction.
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.