3-13 New Street, Erdington, Birmingham, B23 6SD
Mixed use investment in Erdington
Guide price*
£475,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Land/Development
Mixed Use
Auction details:
Thursday 24th October 2024 @ 08:30AM
A freehold mixed use investment opportunity, comprising a parade of 6 two storey properties and a large surfaced secured car park, considered to have development potential, subject to the appropriate planning permission. Current rental income £29,280 PA estimated full rental income £70,000 PA
Property Description
The property comprises a two storey terrace of traditional brick construction which offers a mix of commercial and residential uses and benefits from a large surfaced and gated car park to the rear, accessed directly from the main Sutton New Road. The car park offers a further potential income stream but also potential development for a variety of uses, subject to obtaining the necessary planning permission.Location
The property occupies a prominent position fronting the northern side of New Street and having a further prominence to the main A5127 Sutton New Road close to the main Erdington High Street.Erdington is a popular established suburb, lying approximately 5 miles north east of Birmingham City Centre and borders with Sutton Coldfield.
Accommodation
3 New StreetGround Floor: Retail Area, Kitchen and WC.
First Floor: Beauty Treatment Rooms and Stores.
5 New Street
Ground Floor: Retail Area and Staff Room.
5a New Street
First Floor: Landing, Two Offices, Kitchen/Staff Area and WC.
7 New Street
Ground Floor: Hall Entrance, Two Reception Rooms, Kitchen.
First Floor: Landing, Two Double Bedrooms, Bathroom.
Outside: Enclosed Garden and Brick Store.
9 New Street
Ground Floor: Large Open Plan Retail Area with Side Stores, Kitchen, WC and generous Rear Store Room.
9a New Street
First Floor: Flat, Hall Entrance, Reception Room, Bedroom, Kitchen, Bathroom.
11 New Street
Ground Floor: Entrance Hallway, Three Offices, Kitchen, Separate WC.
First Floor (Interconnected with part over number 13): Five Offices, Kitchen and WC.
13 New Street
Ground Floor: Hallway, Two Offices, Kitchen, WC.
Outside: Generous Surfaced Secure Car Park with Direct Access from Sutton New Road.
Energy Performance Rating
3 New Street: E5 New Street: B
5a New Street: D
7 New Street: D
9 New Street: E
9a New Street: D
11/13 New Street: C
Council Tax Band
7 New Street: B9a New Street: A
Tenure
Freehold – Subject to various tenancies and having part vacant possession.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.Tenancy Details
| Unit | Term | Rent | Tenant | Comments |
|---|---|---|---|---|
| Unit | Use | Tenant | Term | Rent |
| 3 New Street | Retail- Hairdressing and Beauty | Individual | 6 years with effect from 06/06/2022 | £11,000 PA |
| 5 New Street | Vacant | |||
| 5a New Street | Vacant | |||
| 7 New Street | Terraced House | Individuals | Assured Shorthold Tenancy with effect from 05/07/2020 | £6,960 PA |
| 9 New Street | Vacant | |||
| 9a New Street | First Floor Flat | Individuals | Assured Shorthold Tenancy | £5,820 PA |
| 11 New Street (include first floor 13) | Vacant Offices | |||
| 13 New Street (Ground Floor) |
Offices | BSE Womens Housing CIC and SAP Birmingham | With effect from 17/06/2020 | £5,500 PA |
| Total[ | £29,280 PA |
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 £2,160 inc VAT (£1,800.00 + 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.
