131 Middlemore Industrial Estate, Smethwick, Birmingham, B21 0AY
A workshop/warehouse in Smethwick
Guide price*
£120,000+
Plus fees
Sold for £176,000
Lot information
Commercial Investment
Auction details:
Thursday 21st July 2022 @ 09:30AM
A Long Leasehold Workshop/Warehouse Within A Well Established Estate Extending To Approximately 2,951Sqft (274.8SQM) Current Rental Income £12,000 PA
Property Description
The property comprises a single storey end of terraced industrial unit of steel portal frame construction having brick elevations. The unit is configured to provide a reception area, main workshop area, offices, together with gents and ladies WC's. There is a full height roller shutter door and separate pedestrian access. Outside there is a surfaced car parking and loading area.Location
The property is located on the well established and popular Middlemore Industrial estate, off Middlemore Road which leads to the main A41 Birmingham Road. The property is conveniently located with easy access to the national motorway network at junction 1 of the M5 motorway, approximately 1/2 a mile distant.Accommodation
Workshop and Offices: 2,951sqft (274.8sqm)Energy Performance Rating
GTenure
We understand that the property is long leasehold for a term of 150 years with effect from March 1986, having approximately 114 years unexpired. The property is currently occupied by way of a rolling licence at licence fee of £1,000pcm (£12,000 per annum). The licence agreement specifies that it can be brought to and end by three months notice in writing given by either party.We have not had sight of any lease or licence accommodation, all interested parties must obtain their own verification of title by reference to the legal pack.
Value Added Tax
We understand VAT will not be chargeable on this transaction.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.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.
