729A Bristol Road South, Northfield, Birmingham, B31 2NG
A prominent freehold retail investment in Northfield
Guide price*
£200,000+
Plus fees
Sold for £210,000
Lot information
Commercial Investment
Auction details:
Thursday 8th February 2024 @ 08:30AM
A Prominent Freehold Retail Investment Within A Popular And Well Established Suburban Shopping District Current Rental Income £23,000 PA Rising To £24,000 PA In February 2025
Property Description
The property comprises a prominent two storey mid terrace retail unit, standing within a parade of similar properties, currently trading as Mr Souvlaki, a traditional Greek restaurant. The accommodation extends to approximately 1,034 sq. ft (96.1 sq.m). We have not undertaken a measured survey of the premises and interested parties should seek their own verification as to floor areas and dimensions.Location
The property occupies a prominent position to the northern side of Bristol Road South within the heart of the main shopping district of Northfield.Within the vicinity is the long established Northfield Shopping Centre, McDonalds, Subway, Costa Coffee, Cash Converters and Heron Foods, with a mix of local independent operators.
Northfield is a well established south Birmingham residential suburb standing either side of the main A38 which links Birmingham City Centre, 6 miles to the north and Bromsgrove approximately 8 miles to the south.
Energy Performance Rating
See legal pack.Tenure
Freehold- let by way of a full repairing and insuring lease for a term of 10 years with effect from the 1st February 2022 at a current rent of £23,000 per annum rising to £24,000 per annum on 1st February 2025.We have not had sight of the lease documentation, however a copy will be available within the legal pack.
Value Added Tax
VAT is chargeable on this transaction for those who are VAT registered, it is anticipated that the sale will be treated as TOGC, further details will be available in the legal pack.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.
