12 Church Green East, Redditch, B98 8BP
A Freehold Commercial Investment Premises in Redditch
Guide price*
£460,000+
Plus fees
Unsold. Contact the auctioneer.
Lot information
Commercial Investment
Auction details:
Thursday 18th May 2023 @ 09:00AM
A Freehold Commercial Investment in a sought after location. Current Gross Income: £46,200 per annum
Property Description
A Freehold three storey commercial property currently utilised as a ground floor estate agents and a law firm above. The property benefits from a dual front access directly from Church Green East and a commanding shop front to the ground floor unit.Location
The property occupies a prominent business location within the attractive Church Green Conservation Area in the heart of the Town Centre.The property overlooks St Stephen’s Church across a wide paved and pedestrianised area to the front and is close to Lloyds Bank and Natwest, and walking distance to The Kingfisher Shopping Centre, Council Offices, Library and Colleges.
There are several car parks close by and the property is within walking distance to the Bus Station and Railway Station.
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancies.Tenancy Details
Ground Floor – Let by way of a renewed 3 year lease to AP Morgan Estate Agents at a passing rent of £30,000 per annum.First Floor – Let by way of a renewed 3 year lease to Chapter Law solicitors at a passing rent of £16,200 per annum.
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.Tenant Profile
AP Morgan - Established in 2007 and operates from local estate agent branch offices in Birmingham (covering Bournville, Kings Norton, Selly Oak, Stirchley, Northfield, Longbridge, Weoley Castle and West Heath) as well as branch offices in Bromsgrove, Black Country (covering Stourbridge and Halesowen) and Redditch.Chapter Law - A specialist property law firm dealing with all aspects of property law, including sales purchases, remortgaging, transfers of equity, lease extensions and more.
Viewings
Strictly by appointment with the Auctioneers.Accommodation
| Unit | Sq.m. | Sq.ft. |
|---|---|---|
| AP Morgan | ||
| Ground Floor | 123.09 | 1,325 |
| First Floor (Assigned to GF) | 39.55 | 426 |
| Chapter Law | ||
| First Floor | 85.83 | |
| Second Floor | 52.92 | 570 |
| Total: | 301.39 | 3,244 |
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.
