577 & 577a Stoney Stanton Road, Coventry, CV6 5ED
Retail and residential investment property in Coventry
Guide price*
£260,000+
Plus fees
Unsold
Lot information
Commercial Investment
Mixed Use
Residential Investment
Auction details:
Wednesday 29th July 2020 @ 09:00AM
A Freehold Retail & Residential Investment Property located within a busy and popular well established local shopping district Current Rental Income: £26,000 pa.
Property Description
The property comprises a two storey mid terrace, of brick construction with a pitched tiled roof. The ground floor retail unit benefits from A5 planning consent and currently trades as Hickory Chickory, a fried chicken takeaway. On the first floor 577a comprises a self-contained flat, having front door entrance.Location
The property occupies a prominent position fronting the eastern side of the A4109 Stoney Stanton Road.The property is situated within a busy, popular and well established shopping district, mixed with residential, professional and commercial uses. The property is considered to occupy an excellent trading position for existing use as a hot food takeaway.
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancies.Value Added Tax
We understand that VAT is not chargeable on this transaction.Auctioneers Note
Please note offers may be considered prior to the Auction Sale.Remote Bidding Auction
This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.Viewings
Strictly by appointment with the Auctioneers.Tenancy
| Room | Term | Rental |
|---|---|---|
| 577 - Shop: | The property is let by way of a full repairing and insuring Lease, for a term of 15 years with effect from 20th May 2013, expiring on 19th May 2028. The current rent is £18,200 per annum and the Lease provides for a rent review every 3 years. | |
| 577a - Flat: | The flat let by way of an Assured Shorthold Tenancy, at a rental figure of £650 per calendar month - £7,800 per annum. A | |
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 £2,340 inc VAT (£1,950.00 + 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.
