27-29 Poplar Road, Kings Heath, Birmingham, B14 7AA
An attractive former restaurant with 2 bedroom flat over in Kings Heath
Guide price*
£345,000+
Plus fees
Unsold
Lot information
Commercial Vacant
Residential Investment
Auction details:
Thursday 14th September 2023 @ 09:00AM
An Attractive Freehold Former Restaurant, with potential to split into two units, considered suitable for a variety of alternative uses, subject to planning permission, with two flat investments above and within a popular trading position, close to the main High Street
Property Description
The property comprises a former restaurant, having approximately 80 covers, with two self contained flats above. The premises are currently configured to provide a main entrance with waiting/bar area, two main dining areas, small private dining booth, with a fully equipped commercial kitchen, stores, ladies, gents and disabled WCs. The property has been long established as a restaurant, however it is considered suitable for a variety of other retail uses, subject to obtaining any necessary planning consents. And could be split to provide two retail units. On the first floor and approached via a covered side entry are flat 29a which is split over two floors, having lounge, kitchen, bedroom and bathroom and flat 27a a studio, comprising lounge/bedroom, kitchen, bathroom and separate WC.Location
The property lies to the northern side of Poplar Road, a well established side road just off the main A435 Alcester Road in the heart of Kings Heath. Within the immediate vicinity there is a good mix of independent traders and restaurants, together with desirable residential development.Kings Heath is a poplar suburb lying approximately 4 miles south of Birmingham City Centre and neighbours Moseley.
Energy Performance Rating
C.Council Tax Band
A.Tenure
The property is Freehold.The ground floor restaurant is available with vacant possession upon completion.
Flat 27a is let by way of an Assured Shorthold Tenancy, at a current rent of £425 per calendar month - £5,100 per annum.
Flat 29A is let by way of an Assured Shorthold Tenancy, at a current rent of £850 per calendar month - £10,200 per annum.
Value Added Tax
We understand VAT is not applicable on this transaction.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.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.
