75-77 Great Bridge, Tipton, DY4 7HF
A mid terraced retail/investment opportunity in Tipton
Sold Prior to auction, for an undisclosed amount
A prominent Freehold retail/investment opportunity having potential to convert the vacant upper floor to a residential use subject to any appropriate planning permission Current Rental Income: £13,000 pa
Property DescriptionThe property comprises a two storey mid terrace currently configured to provide on the ground floor a spacious open plan office/retail area with further open-plan area beyond, stores with a cellar off, kitchen area and two WC's. The ground floor is currently operating as a well-established local estate agency. On the first floor there are self-contained vacant offices having a front door entrance direct from the pavement comprising four offices, kitchen/staff room and two WC's. It is considered that the upper floor has the potential to convert to residential use subject to planning permission.
LocationThe property is prominently situated directly fronting Great Bridge within Tipton town centre which comprises a variety of national and local retailers, professional offices and other commercial uses. Wilko, West Bromwich Building Society, Bet Fred, Hallmark, Herron Foods and the Post Office are all within the immediate vicinity.
Energy Performance RatingD
Ground Floor Retail Unit - Currently occupied by Skitts Estate Agents. The current Lease ends on the 25th September 2020 at a current rental of £13,000 per annum.
First Floor - Will be available with vacant possession upon completion.
Value Added TaxWe understand that VAT is not charegable on this transaction.
Auctioneers NotePlease note offers may be considered prior to the Auction Sale.
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
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*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