2-4 Hawkhurst Road, Maypole, Birmingham, B14 5HS
Freehold retail investment opportunity with flat above in Maypole
Guide price*
£255,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Thursday 14th December 2023 @ 09:00AM
A Freehold Retail Investment Property Let to Lloyds Bank Plc, with spacious flat over, within a busy local shopping district Current Gross Income: £21,500 pa.
Property Description
The property comprises a prominent predominately two storey detached building of brick construction with a pitched roof over the main building and flat roof over the single storey areas. The property is configured to provide a modern banking hall, with glazed partition meeting rooms off, stores, safe room, kitchen/staff room, WCs and an ATM room. On the first floor there is a spacious self-contained flat comprising landing, living room, double bedroom, single bedroom, kitchen, bathroom and separate WC. Outside there is parking for 2 cars. The flat currently forms part of Lloyds Banks demise, but offers an excellent future refurbishment opportunity.Location
The property occupies a highly prominent position at the junction of Hawkhurst Road and the main A435 Alcester Road South, one of the main arterial routes linking the suburbs of Maypole, Kings Heath and Moseley with Birmingham City Centre and provides access to the Midlands motorway network via junction 3 of M42 motorway a short south of the property.Situated within a busy and well established shopping district within a popular residential suburb, neighbouring occupiers include local independent traders and nationals, Iceland, Boots, Betfred, Greggs, Just for Pets, Aldi, Ladbrokes and a large Sainsburys Superstore.
The property is considered to occupy an excellent trading position for its existing use and also a variety of alternative uses, subject to obtaining any necessary planning permission.
Energy Performance Rating
C & E.Tenure
Freehold – Subject to an FRI Lease for a term of 3 years to Lloyds Bank Plc with effect from 25th March 2022, at a rent of £21,500 per annum. We understand that Lloyds have been in occupation for in excess of 20 years.A copy of the Lease documentation will be available 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.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.
