3 John Street, Glascote, Tamworth, B77 3EB

Retail investment in Tamworth

Guide price*

£70,000+

Plus fees

Withdrawn Prior

Lot 87 Commercial Investment
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Auction details:

Wednesday 23rd October 2019 @ 10:30AM

A FREEHOLD RETAIL INVESTMENT WITHIN A WELL ESTABLISHED RESIDENTIAL NEIGHBOURHOOD LOCATION CURRENT RENTAL INCOME: £5,940 PA

Property Description

The property comprises an end terrace of traditional rendered brick construction surmounted by a pitch tiled roof. The building is currently configured to provide a retail area used as a barber shop, with a newly created wash room, WC and kitchen area to the rear. There is attic space above which is currently not accessible but offers conversion potential subject to obtaining any necessary planning consents.

Location

The property lies to the western side of John Street just off the main B5000 Glascote Road within the established residential suburb of Glascote, a short distance east of Tamworth town centre. Within the vicinity there is a parade of local shopping, including a Coral Bookmakers, the Dolphin Inn, a Nisa Local, professional offices and a mix of older residential together with more modern development.

The property is considered to occupy a good potential catchment area for its existing use.

Energy Performance Rating

D.

Tenure

Freehold subject to a Lease to an individual trading as John Street Barber Shop for a term of 3 years with effect from 2nd January 2019 at a rent of £495 per calendar month (£5,940 per annum).
A copy of the Lease will be available for inspection within the Legal Pack.

Value Added Tax

Please refer to the Legal Pack.

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.

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