141 High Street, Brownhills, Walsall, WS8 6HG
Mixed use investment opportunity in Walsall
Guide price*
£250,000+
Plus fees
Withdrawn Prior
Lot information
Commercial Investment
Auction details:
Wednesday 28th October 2020 @ 09:00AM
A Freehold Mixed Use Investment comprising two retail units and two flats, together with a rear yard and two lock-up garages Current Rental Income: £31.280 pa
Property Description
The property comprises a predominantly two storey part single storey detached building configured to provide two retail units on the ground floor and two self-contained flats. Flat 1 is located on the ground floor and comprises a lounge, kitchen, double bedroom and bathroom. On the first floor flat 2 comprises a hall, two bedrooms, lounge, kitchen and bathroom. There is a driveway leading to a rear yard, with two lock-up garages and a garden.Location
The property occupies a prominent position fronting the northern side of the A452 High Street within a busy retail and commercial environment with a mix of local and national retailers, including Farm Foods and Tesco Superstore a short distance from the property.Energy Performance Rating
C, D, E.Tenure
Freehold – Subject to the existing tenancies.Value Added Tax
We understand that VAT will not be chargeable upon this transaction.Auctioneer's 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
External viewings only.Tenancy Details
| Unit | Sq.m. | Sq.ft. |
|---|---|---|
| Ground Floor Retail Unit - Tanning Salon | ||
| Retail/Salon: | 41.4 sq.m. | 445 sq.ft. |
| Rear Stores, Cloak Room/WC: | 8.90 sq.m. | 87 sq.ft. |
| Ground Floor Retail Unit - Takeaway | ||
| Retail Area: | 52.9 sq.m. | 590 sq.ft. |
| Kitchen: | 27.9 sq.m. | 303 sq.ft. |
| Stores: | 17.5 sq.m. | 183 sq.ft. |
| Ground Floor Flat: | Lounge, Kitchen, Double Bedroom, Bathroom. | |
| First Floor Flat: | Lounge, Two Kitchen Areas, Bathroom, Two Bedrooms (one ensuite). | |
Tenancy Details
| Unit | Term | Rent | Tenant | Comments |
|---|---|---|---|---|
| Tanning Salon | Let by way of a 3 year Lease with effect from 3rd January 2018. | £7,800 pa | Shadze of Bronze | A new 5 year Lease at a rental of £8,100 pa. is being agreed to commence once completed. The tenant is well established having being in occupation for approximately 16 years. |
| Ground Floor Retail Unit | Let by way of a 6 month tenancy agreement with effect from the 1st August 2020. | £200 pw. Equivalent to £10,400 per annum. | Brown Hills Fish & Chips | - |
| Ground Floor Flat | Let by way of an Assured Shorthold Tenancy for 24 months with effect from 26th September 2020. | £400 pcm (£4,800 pa) | - | - |
| First Floor Flat | Let by way of an Assured Shorthold Tenancy for 18 months with effect from the 1st October 2020. | £690 pcm (£8,280 pa) | - | - |
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.
