77 & 77a Mason Road, Erdington, Birmingham, B24 9EH
A double fronted mixed use investment in Erdington
Guide price*
£120,000+
Plus fees
Sold for £158,000
Lot information
Commercial Investment
Mixed Use
Residential Investment
Auction details:
Thursday 14th December 2023 @ 09:00AM
A Freehold Mixed Use Investment Within A Neighborhood Parade Current Rental Income £15,000 PA
Property Description
The property comprises a two storey double fronted end of terrace of brick construction with pitched roof. Currently configured to provide on the ground floor a commercial unit used for Church and training activities, comprising foyer, meeting room, office, kitchen, WC's, basement and garden. On the first floor there is a self contained flat. The property is considered suitable for a variety of alternative uses subject to obtaining any necessary planning permission. We would advise that we have not been able to undertake an internal inspection of the premises.Location
The property lies within a neighborhood parade fronting the southern side of Mason Road within a very well established predominantly residential area, yet conveniently located to the main retail offering along High Street, Erdington.Mason road is a local route and links High Street with Edwards Road.
Energy Performance Rating
DCouncil Tax Band
77a- BTenure
Freehold- Subject to the following.Tenancy Details
77 Commercial Unit: Let by way of a 3 year lease with effect from 6th July 2022 at a rent of £9,000 per annum.77a Flat: Let by way of an assured shorthold tenancy with effect from 10th January 2023 continuing on a year to year basis until the landlord or the tenant terminates the tenancy. Current rent £500pcm (£6,000 per annum).
Auctioneer's Note
Please note no offers will be considered prior to the Auction Sale.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 £2,340 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.
