6-8 Cape Hill, Smethwick, B66 4RN
Freehold mixed use property in Smethwick
Guide price*
£325,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Wednesday 20th October 2021 @ 09:00AM
A Freehold Mixed Use Investment Opportunity Comprising Two Retail Units And A Spacious Vacant Flat Above Within A Popular Local Shopping District
Property Description
A prominent mixed use property comprising two self contained ground floor retail units, and a spacious self contained duplex flat above and over both shop units. The flat is in need of modernisation but also provides the opportunity to create two flats subject to any necessary planning permission. Both retail units are currently occupied whilst the flat above is vacant and currently configured to provide lounge, kitchen/dining area, bathroom, three double bedrooms and a further attic room.Location
The property occupies a prominent position fronting the busy B4125 Cape Hill in a well established residential and retail area opposite the Windmills retail park.The property is well served by public transport and is within close proximity to the new Midland Metropolitan Hospital which is currently under construction.
Energy Performance Rating
See legal packTenure
The property is freehold subject to tenants occupying the two ground floor retail units.Unit 6 is currently trading as Tony's Hairdressers and the tenant is holding over, the lease having expired in 2008, the current rent is £4,800 per annum.
Unit 8 is currently trading as Cute Salon let by way of a ten year lease expiring on 4th November 2022 at a current rental of £7,124 per annum.
The upper floors will be available with vacant possession upon completion.
We have not had sight of any documentation relating to the current tenancies, copies will be available for inspection within the legal pack.
Value Added Tax
We understand that VAT is not chargeable on 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
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 £2,160 inc VAT (£1,800.00 + 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.
