33 Alcester Road South, Kings Heath, Birmingham, B14 7JQ
Freehold commercial investment property in Kings Heath
Guide price*
£295,000+
Plus fees
Sold for £375,000
Virtual tour
Lot information
Commercial Investment
Auction details:
Thursday 19th May 2022 @ 09:00AM
A Freehold Investment Property within a busy suburban retail area Current Rental Income: £25,000 pa
Property Description
The property comprises a spacious retail area which is currently let to City Gaming Ltd. The open-plan retail room includes a rear kitchenette, large toilet, small office and two storage cupboards. The ground floor has recently been updated benefitting from a glazed shop front, comfort cooling/air conditioning, newly carpeted floor and disabled access. The first floor is in need of refurbishment and may have potential to be extended to create two self-contained flats subject to obtaining any necessary planning consents. Access to the upstairs is via a gated side access to the left hand side of the property and there is a yard to the rear.Location
The property is situated on the busy Alcester Road South, which sits in the popular South Birmingham suburb of Kings Heath. The property lies approximately 3 miles south of Birmingham city centre and 2 miles north of the M42 motorway, which has onward access to all major road networks. Within the vicinity of the property there is a mix of local and national occupiers including Sainsburys, Lloyds and Betfred.Energy Performance Rating
ETenure
Freehold – Subject to the existing tenancy.Tenancy Details
The ground floor is currently let to City Gaming Ltd trading as Game Nation on a new 15 year Lease with 5 year rent reviews. It has a passing rent of £25,000 plus VAT.City Gaming Ltd/Game Nation is the third largest High Street slots operator in the UK intending to grow to 120 venues before 2027.
Value Added Tax
All interested parties must refer to the legal pack in respect of VAT.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.Accommodation
| Sq.m. | Sq.Ft. | |
|---|---|---|
| Ground Floor: | 81.18 sq.m. | 873.8 sq.ft. |
| First Floor | 62.9 sq.m. | 677.05 sq.ft. |
| Total: | 144.08 sq.m. | 1,550.86 sq.ft. |
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.
