1 Station Road &, 4-6 West Heath Road, West Heath, Birmingham, B31 3TE
Freehold 3 storey investment property in West Heath
Guide price*
£480,000+
Plus fees
Withdrawn
Lot information
Commercial Investment
Auction details:
Thursday 19th May 2022 @ 09:00AM
A Prominent Freehold Investment Property With Development Potential Subject To Any Appropriate Planning Permission. Current Rental Income £51,060 PA
Property Description
The property comprises a large corner building extending over three floors together with three detached brick built barns. The main building is currently configured to provide a well established private members club, a well established tattoo parlour, a fish and chip shop, a cake shop, three offices, and a one bedroom flat. To the rear of the main building there are three detached single storey barns of brick construction with tiled roofs. The property which is fully let is considered to provide redevelopment potential subject to any necessary planning permission.Location
The property occupies a large corner plot fronting Station Road and West Heath Road in the well established suburb of West Heath.Within the vicinity there is a mix of residential, retail and commercial uses, including an Esso petrol filling station and a Co Op food store. Northfield railway station lies a short distance from the property and the area is well served by public transport. West Heath Road and Station Road are both busy local routes and the property is considered to benefit from an excellent catchment area for trade for it's various uses together with the potential for passing trade. There is on road parking along Station Road immediately outside the premises.
Energy Performance Rating
See legal pack.Council Tax Band
Flat - AValue Added Tax
We understand that VAT will not be 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.Tenancy Details
| Unit | Term | Rent | Tenant | Comments |
|---|---|---|---|---|
| Unit | Tenancy Details | Description | Monthly Rent | Annual |
| 1 Station Road, West Heath | ||||
| Ground Floor Painted Lady Tattoo Parlour and Offices 1 and 2 | Let by way of a two year lease expiring in May 2024 | A ground floor reception area and large room alongside two second floor offices. | £900pcm | £10,800 per annum |
| BSSA Charity Office 3 | Let by way of a lease expiring in December 2025 | One large second floor office (we understand the tenant has been in occupation since 2010) | £450pcm | £5,400 per annum |
| Northfield Social Club | Let by way of a 5 year lease expiring in May 2027 | Located on the first floor with separate access providing bar and dining area, function room, kitchen and WC facilities. | £435pcm | £5,220 per annum |
| The Station Fish and Chip Shop | Let by way of a lease expiring on 31st March 2030 | Serving area, preparation room, storage area, WC facilities and cellar. | £1,100pcm | £13,200 per annum |
| Flat | Let by way of an assured shorthold tenancy with effect from 1/4/2017 | A one bedroom self contained flat at the rear of the ground floor. | £495pcm | £5,940 per annum |
| 4-6 West Heath Road, West Heath | ||||
| Lils Parlour/Cake Shop | Let by way of a lease expiring in May 2024 | Reception area with WC facilities and large commercial kitchen. | £450pcm | £5,400 per annum |
| Barns | Let by way of a lease expiring in May 2024 | Three brick built storage barns (considered to have development potential subject to planning permission) Please note one barn is vacant | £425pcm | £5,100 per annum |
| Totals | £4,255pcm | £51,060 per annum |
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.
