106-110 Edmund Street, Birmingham, B3 2ES
Freehold public house investment in Birmingham
Guide price*
£995,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Thursday 14th September 2023 @ 09:00AM
A Freehold Prime City Centre Public House Investment Let To Greene King Neighbourhood Estate Pubs Limited Current Rental Income £78,750PA
Property Description
The property comprises an attractive landmark, four storey corner building, constructed in 1895 and comprises a public house on the ground floor and basement with 17 self contained apartments on the upper floors accessed via a separate entrance, which have been sold on a long leasehold at a peppercorn ground rent.Location
The property occupies a highly prominent corner position at the junction of Edmund Street and Newhall Street within the heart of the Birmingham Business District just off Colmore Row.Within the vicinity there are high profile professional services, retail, bars, cafes and restaurants together with St Philips Cathedral, The Grand Hotel, Birmingham Town Hall and Council House and Snow Hill Railway Station.
Energy Performance Rating
DTenure
Freehold – Subject to the existing tenancies.Value Added Tax
We understand that VAT is applicable on this transaction. For those who are VAT registered the intention would be to treat as a TOGC, full details will be available within the legal pack.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.Accommodation / Tenancy Details
| Demise | Area (sq.ft.) | Tenant | Term | Rent PA | ERV | Comments |
|---|---|---|---|---|---|---|
| Floor | Use | Floor Areas Approx | Tenant | Term | Rents Per Annum | Comments |
| Ground & Basement | Public House | Ground Floor- 244.61sqm (2,633sqft) Basement- 161.74sqm (1,741sqft) |
Greene King Neighbourhood Estates Pubs Limited Guaranteed by Greene King PLC with an Authorised Guarantee Agreement from Whitbread PLC T/A The Florence |
With effect from 29th September 1996 until 28th September 2046 | £78,750 | The lease provides for 5 yearly upwards only rent reviews the next falling on the 19th September 2026 |
| First/Second/Third | Residential | Not measured | Unique Management Limited | 150 years from 29th July 2009 | Peppercorn | The lease expires on 28th July 2159 |
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.
