6 Market Place, Redditch, B98 8AA
Freehold town centre retail unit in Redditch
Unsold, please refer to Auctioneer
A Prominent Vacant Freehold Town Centre Retail Unit with a Three Bedroom Self Contained Flat Investment above Rent Passing £6,000 pa. Estimated Full Rental Value £18,000 pa.
Property DescriptionThe property comprises a three storey mid terrace of traditional brick construction, surmounted by a slate roof. On the ground floor the accommodation extends to a retail unit with office accommodation and storage. There is further office/storage accommodation in the basement. On the first and second floor, there is a self contained three bedroom apartment, accessed from the rear of the property. The property was previously used as an insurance office, but is considered suitable for a variety of alternative uses, subject to obtaining any appropriate planning permission.
LocationThe property occupies a prominent position within the heart of Redditch Town Centre, with a strong mix of national and local operators and close to the Kingfisher Shopping Centre.
Redditch is situated in north east Worcestershire located approximately 15 miles south of Birmingham City Centre.
Energy Performance RatingE.
TenureRetail Unit: Freehold – Vacant possession upon completion.
Residential: We understand is let by way of an Assured Shorthold Tenancy, at a current rent of £500 per calendar month - £6,000 per annum. We understand that the current tenant is holding over.
Value Added TaxWe understand that VAT is not chargeable on this transaction.
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.
REMOTE BIDDING AUCTION
Please note that the Auction will be livestreamed via our website with Remote Bidding by Proxy, Telephone or Internet Only. You must pre-register to bid for each auction no later than 24 hours 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.
Freehold commercial ground rent in Birmingham being sold of behalf of Birmingham City Council