35-37 High Street, Pelsall, Walsall, WS3 4LX

Freehold mixed use investment in Walsall

Guide price*

£500,000+

Plus fees

Sold prior to auction, for an undisclosed amount

Lot 102 Commercial Investment Residential Investment
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Auction details:

Thursday 14th September 2023 @ 09:00AM

A Freehold Mixed Use Investment Comprising A Terrace Of Retail Units With Self Contained Flats Above. Within A Popular Village Location Current Rental Income £55,600 PA

Property Description

The property comprises a two storey terraced of brick construction with a pitched tiled roof having being extended to the rear, and comprises two retail units, an office and two flats above. There is parking and yard to the rear, which is accessed via Ash Tree Road.

Location

The property is prominently located within the centre of the popular village of Pelsall, which lies between Bloxwich (approximately two miles) and Brownhills (approximately two and a half miles).
The property lies on the edge of Pelsall Common fronting High Street, the immediate vicinity comprises a busy and well established mix of retail properties around an area of public open space. The wider area locally is predominantly residential in nature. Pelsall benefits from good access to the local road network with onward connections to the A5 Watling Street, the M6 toll and the A461 which links Walsall with Lichfield.

Accommodation

35/35a High Street
Ground Floor: Retail Area- 260.79sqm (2,807sqft), Cold Room- 8.32sqm (89sqft),
Food Preparation Area- 17.42sqm (187sqft), Office- 4.73sqm (51sqft), Stores-18.17sqm (195sqft), Plant Room- 20.4sqm (219sqft)
First Floor Flat: Two Bedrooms, Living Room, Bathroom, Kitchen.
36/36a High Street
Ground Floor: Retail Area- 45.42sqm (489sqft), Kitchen- 4.83sqm(52sqft), Laundry Room- 1.68sqm (18sqft)
First Floor Flat: Two Bedrooms, Living Room, Kitchen and Bathroom.
37 High Street
Ground Floor: Office 26.20sqm (282sqft), Stores- 4.34sqm (47sqft)

Energy Performance Rating

No. 35 - B, No. 36 & 37 - C.

Tenure

Freehold – Subject to the following tenancies.

Value Added Tax

We understand that VAT will not be chargeable 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.

Viewings

External viewings only.

Lease Details

Flat No. Lease Term Approx. Reversion
Address Lease Details Current Rent
35/35a High Street Tates Limited guaranteed by AF Blackmore and Son
Let by way of a lease for a term of 20 years with effect from 26th March 2005
£37,500 per annum
36/36a Individual
Let by way of a lease for a term of 10 years with effect from 1st March 2010. Tenant currently holding over.
£13,300 per annum
37 High Street Individuals trading as Supreme Law Solicitors
Let by way of a 10 year lease with effect from 11th January 2016.
£4,800 per annum
Total £55,600
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.

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