219-221 Stratford Road, Shirley, Solihull, B90 3AH
A mixed retail and office investment in Shirley
Guide price*
£260,000+
Plus fees
Sold for £367,000
Lot information
Commercial Investment
Auction details:
Thursday 30th March 2023 @ 09:00AM
A FREEHOLD MIXED RETAIL AND OFFICE INVESTMENT PROPERTY WITHIN POPULAR SUBURB AND FRONTING BUSY ‘A’ ROAD CURRENT GROSS INCOME £26,500 PER ANNUM
Property Description
The property comprises a three storey mid terrace of brick and tile construction, which is configured to provide a well presented self contained ground floor retail unit, with ancillary, stores, kitchen and WC, currently trading as an independent coffee shop, Bora Coffee, whilst the first and second floor provide self contained offices occupied by Homehelp Solihull.Location
The property occupies a prominent position within a parade of similar properties, fronting the main A34, Stratford Road in the heart of the popular suburb of Shirley. Within the vicinity there is a vibrant mix of local retailers, together with national operators including Specsavers, Card Factory,Holland & Barrett, Santander, Nat West and Boots. Other uses within the vicinity include, bars,pubs restaurants and Asda and Aldi food stores.The A34 serves as a main arterial route linking Birmingham City centre with Solihull and beyond to the nearby junction 4 of the M42 motorway. The property is considered to occupy an excellent immediate catchment area for trade together with a high volume of potential passing trade throughout the day.
Accommodation
Ground Floor: Main Retail Area with modern trade counter having approximately 30 covers, Kitchen, Stores and WC.First Floor: Accessed via a Shared Staircase leading to, Lobby/Reception Area, Main Office, Kitchen
Second Floor: Office, Two Stores, WC.
Energy Performance Rating
D & E.Tenure
Freehold – Subject to the existing tenancies.Tenancy Details
Ground Floor: Let by way of a 5 year lease to Bora Coffee Limited with effect from 22nd November 2021 at a current rent of £18,500 per annum.First & Second Floors: Let by way of a 5 year lease to Homehelp Solihull with effect from 8th October 2019, at a current rent of £8,000 per annum. We are advised that the tenant has been in occupation for 19 years.
For further details, please refer to the Leases within the legal pack.
Value Added Tax
We understand VAT is not applicable 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
External viewings only.
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.
