440 Dudley Road, Wolverhampton, WV2 3AQ
Retail investment with vacant self-contained flat above in Wolverhampton
Guide price*
£265,000+
Plus fees
Unsold
Lot information
Commercial Investment
Mixed Use
Residential Vacant
Auction details:
Wednesday 29th July 2020 @ 09:00AM
A Freehold Retail Investment with a spacious vacant self-contained 3 bedroom flat over first and second floors, in a popular shopping district Current Rental Income: £10,200 pa. Estimated Full Rental Value: £18,000 pa.
Property Description
A three storey end of terrace property, standing in a parade of similar properties. The accommodation is currently configured to provide a self-contained hot food takeaway on the ground floor, trading as Shawara & Grill, fitted with a large trade counter, stores, preparation and washing areas, staff WC. On the first and second floors, there is self-contained living accommodation, having front door entrance directly from the pavement. The accommodation comprises entry hallway with stairs to cellar storage, stairs leading to landing, kitchen/living room, double bedroom, bathroom with WC. Whilst on the second floor there are two further double bedrooms. The flat requires some repair and refurbishment throughout.Location
The property occupies a prominent position fronting the western side of the main A459 Dudley Road, opposites its junction with Elm Farm Road. Standing within a parade of similar properties, in a vibrant mixed retail and residential neighbourhood, situated approximately 1 mile south of Wolverhampton City Centre. The property is considered to occupy an excellent trading position for its existing use as a hot food takeaway and spacious 3 bedroom self-contained flat.Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancies.Value Added Tax
We understand that VAT will not be 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 |
|---|---|---|
| Retail Unit: | Let by way of a 7 year Lease, with effect from 24th September 2019, at a current rental of £10,200 per annum. | |
| Living Accommodation: | Vacant possession upon completion. | |
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.
