341 Soho Road, Handsworth, Birmingham, B21 9SE
Freehold mixed use investment in Handsworth
Guide price*
£595,000+
Plus fees
Lot information
Commercial Investment
Mixed Use
Residential Investment
Auction details:
Thursday 16th May 2024 @ 08:30AM
A Large Freehold Mixed Use Investment Property Within A Busy Trading Location Fronting The Main A41 Soho Road. Current Rental Income £43,400 pa.
Property Description
The property comprises a large and prominent corner building providing a wholesale unit, a hot food retail unit and and a self contained flat over first and second floors. To the rear of the ground floor is a specialist wholesale meat preparation unit occupied by a Pure Halal Poultry, it is adapted to provide specialist chiller rooms, meat preparation areas, wash areas, locker room, office, staff kitchen and WC's. To the front is a modern hot food retail unit occupied by Erbil Shawarma and has a main retail area with trade counter, seating area, rear food store and preparation area, WC with wash hand basin. The self contained living accommodation benefits from a front door entrance with ground floor hallway having stairs leading to the first floor, landing, three double bedrooms, kitchen and bathroom. There is a further double bedroom on the second floor. The flat benefits from gas central heating and double glazing.Location
The property occupies a prominent corner position fronting Soho Road with a long return frontage to Bobbington Road, within the heart of the Soho Road shopping district.The A41, Soho road serves as one of Brimingham's busiest A roads linking Birmingham City Centre with West Bromwich.
There is a vibrant mix of retail and other commercial uses within the vicinity, and is a busy route throughout the day.
Energy Performance Rating
See legal pack.Tenure
The property is freehold subject to the following tenancies.Tenancy Details
341 Soho Road (Front): Retail unit occupied by Erbil Shawarma let by way of a 10 year lease with effect from the 12/07/2018 at a current rent of £12,000 per annum.341 Soho Road (Rear): Wholesale unit occupied by Pure Halal Poultry let by way of a 10 year lease with effect from 14/01/2019, with a 5 year rent review. Following the rent review on the 14/01/2024 the rent is £20,350 per annum.
314a Soho Road- Living Accommodation: Let by way of an assured shorthold agreement at a rent of £850 every 4 weeks (£11,050 per annum).
Value Added Tax
Please see legal pack.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.Viewings
Strictly by appointment with the Auctioneers.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.
