156 High Street, Princes End, Tipton, DY4 9JA
Mixed use end terraced investment in Tipton
Sold for £175,000
A Freehold End Terraced Mixed Use Investment Current Rental Income: £12,000 pa
Property DescriptionThe property comprises a two storey end terraced of brick construction with a pitched tiled roof. The property is currently occupied by Ladbrokes and is configured to provide a ground floor betting office occupied on a new 10 year Lease. To the first floor there is vacant ancillary accommodation, which is not currently accessible.
LocationThe property occupies a prominent position within a well established retail parade along side a variety of independent retailers, convenience store and Post Office.
The property itself is situated on the south side of High Street close to Upper Church Lane which is in the Princes End area of Tipton and is approximately 3 miles north of West Bromwich and Dudley and 10 miles north west of Birmingham city centre.
Energy Performance RatingC
Lease DetailsA copy of the lease will be available for inspection within the legal pack.
Value Added TaxWe understand that VAT is not chargeable on this transaction.
Auctioneers Note1. At the time of going to print, the Auctioneers were unable to inspect the property internally and therefore the accommodation details should not be relied upon.
2. Please note offers may be considered prior to the Auction Sale.
ViewingsExternal viewings only.
Accommodation & Tenancy
|Ladbrokes Betting & Gaming Ltd||Ground Floor||149.5 sq.m. 1,609 sq.ft.||10 years from 30th September 2019 with a rent review due on 30th September 2024. There is a tenant break option on 24th December 2024.||£12,500 pa|
|Vacant||First Floor (no access)||-||Vacant||-|
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.