111 Alcester Road, Moseley, Birmingham, B13 8DD
A Freehold Investment Opportunity in Moseley
Guide price*
£595,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Residential Investment
Auction details:
Thursday 9th September 2021 @ 09:00AM
A Freehold Mixed Use Opportunity
Property Description
A substantial three storey mid parade property comprising of a ground floor retail unit trading as Subway, and three self-contained flats. There are two, two bedroom flats to the ground floor, and a further four bedroom flat.Location
Situated of the heart of the ever popular Moseley Village, opposite The Fighting Cocks public house. Occupiers with close proximity include an M&S Food Hall, Co-Op & Sainsburys supermarket, Costa Coffee, and Wetherspoons.Moseley Village has become an extremely popular location, thanks to numerous restaurants, coffee shops, public houses, takeaways and niche retail occupiers.
Surrounding areas are densely populated residential. Birmingham City Centre is located approximately 4 miles due north.
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancies.Tenancy Details
The ground floor and two flats are let to Subway Realty Ltd for a term of 15 years from 11/1/2006, expiring 10/1/2021 at a passing rent of £24,000 per annum.The tenant is currently holding over pending lease renewal.
Flat 1 (two bedrooms) - currently let to Subway (see below)
Flat 2 (two bedrooms) - currently let to Subway (see below)
Flat 3 (four bedrooms) - let on an AST at £1,150 pcm.
The total passing rent is £37,800 per annum.
The total passing rent is £37,800 per annum.
Subway are in the process of renewing their lease to exclude the two ground floor flats, thus providing further income potential.
Value Added Tax
VAT is not applicable on this transaction.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.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.
