Whynot Service Station, Reddicap Heath Road, Sutton Coldfield, Birmingham, B75 7ET
Freehold motor trade investment property in Sutton Coldfield
Guide price*
£1,850,000+
Plus fees
Lot information
Commercial Investment
Auction details:
Thursday 11th July 2024 @ 08:30AM
A prominent well let freehold motor trade investment property with petrol filling station with convenience store, MOT centre, valeting bay, residential and parcel lockers Current rental income £174,520 PA
Property Description
The property comprises a prominent and well established neighborhood petrol filling station and convenience store, together with MOT centre, valeting bay, residential and parcel collection lockers. The petrol filling station comprises a modern canopied forecourt having 4 square pump layout and generous frontage with access and egress from and to Reddicap Heath Road.There is a forecourt shop/off license with tiled floor, suspended ceilings, stock room, office and WC. The MOT centre comprises entrance lobby, reception/waiting area, customer WC, main MOT/workshop bay with rolling road and four post vehicle lift. There is an internal vehicle valeting bay. On the first floor there is a further stock room for the petrol filling station and office for the MOT/repair centre. There is a separate area providing a communal landing, shared lounge, kitchen/dining area, two communal shower rooms and two bedrooms. On the second floor there are four further bedrooms. Outside there is a range of Inpost lockers and further private lockers, surfaced rear car parking area for approximately 15 cars.Location
The property occupies a prominent frontage to the northern side of Reddicap Heath Road between it's junction with Lillington Close and Springfield Road within a well established residential neighborhood within the popular and affluent town of Sutton Coldfield.The property is considered to occupy an excellent trading position for it's existing use and may be considered suitable for future development subject to any necessary planning permission.
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the following tenancies.Value Added Tax
We understand VAT is not chargeable on this transaction.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.Viewings
Strictly by appointment with the Auctioneers.Accommodation / Tenancy Details
| Address | Lessee | Accommodation | SQ.M. (SQ.FT.) | Lease Details | Current Rent PA | Next Review/Reversion |
|---|---|---|---|---|---|---|
| Unit | Tenant | Lease Term | Start Date | End Date | Rent Review | Rent Per Annum |
| Petrol Forecourt & Convenience Store | KV Convenience Limited | 15 years | 18/04/2022 | 17/04/2037 | 5 yearly rent review upwards only | £101,400 |
| Vehicle Repair Workshop | VRS Auto Limited | 15 years | 16/04/2022 | 15/04/2037 | 5 yearly rent review upwards only | £20,160 |
| Vehicle Valeting Bay | Reddicap Car Care Limited | 15 years | 18/09/2022 | 15/04/2037 | 5 yearly rent review upwards only | £20,160 |
| Living Accommodation | Care and Alliance Limited | 15 years | 18/04/2022 | 17/04/2037 | 5 yearly rent review upwards only | £24,000 |
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 £1,920 inc VAT (£1,600.00 + 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.
