113 Halesowen Road, Netherton, Dudley, DY2 9PY
Mixed use investment in Netherton
Sold prior to auction, for an undisclosed amount
Tuesday 10th September 2019 @ 10:30AM
Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE
A Freehold Mixed Use Investment, comprising a refurbished retail unit and 3 self-contained flats Current Gross Income: £20,700 pa.
Property DescriptionThe property comprises a three storey mid terrace of brick construction, surmounted by a pitched roof. The property is configured to provide a recently refurbished retail unit on the ground floor used as a barbers, with ancillary kitchen and WC facilities. To the side of the property there is a separate entrance for the residential accommodation, comprising Flat A - a duplex apartment accessed via an external stairway at the rear, the flat is split over the second and third floor and offers a kitchen, bathroom, living room and bedroom. Flat B - a ground floor one bedroom apartment. Flat C - a first floor studio apartment with separate kitchen and shower room. We have not inspected the living accommodation, as such the accommodation should not be relied upon.
LocationThe property occupies a prominent frontage to the northern side of the A459 Halesowen Road near to its junction with Crossley Street and Northfield Road.
The property lies within a busy local parade with a good mix of retail uses within a largely well established residential neighbourhood.
Energy Performance RatingRetail Unit: D
Flat A: E
Flat B: D
Flat C: D
TenureFreehold – Subject to the following.
The retail unit is let by way of a 1 year agreement with effect from 1st December 2018, at a current rent of £7,200 per annum.
Flat A let by way of an Assured Shorthold Tenancy, at a rental of £375 per calendar month - £4,500 per annum.
Flat B let by way of an Assured Shorthold Tenancy, at a rental of £375 per calendar month - £4,500 per annum.
Flat C let by way of an Assured Shorthold Tenancy, at a rental of £375 per calendar month - £4,500 per annum.
Copies of the Lease and Tenancy Agreements will be available for inspection within the legal pack.
Value Added TaxWe understand that VAT is not chargeable on this transaction.
Auctioneers NotePlease note that we have not had sight of the tenancy agreements at the time of going to print.
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.