147 Lozells Road, Lozells, Birmingham, B19 2TP
Retail/office investment property in Lozells
Guide price*
£315,000
Plus fees
Sold for £300,000
Lot information
Commercial Investment
Auction details:
Wednesday 11th December 2024 @ 08:30AM
A freehold well let retail/office investment property, occupying a prominent main road position within a popular parade. Current rental income: £17,000 per annum
Property Description
A three storey mid terraced property standing within a parade of similar properties. The accommodation comprises on the ground floor an entrance lobby, main banking hall with glazed counter and customer waiting area, Office, Kitchen, WC and Lobby with stairs to upper floors. On the first floor there are two offices. On the second floor there are two further offices. Outside there is a small rear yard. The accommodation is well presented and is occupied by a well established money transfer company.Location
The property occupies a prominent position fronting the B4144, Lozells Road between its junctions with Archibald Road and Frances Road, within a popular local shopping parade in the well established suburb of Lozells and is approximately 3 miles north of Birmingham City Centre.Energy Performance Rating
See legal packTenure
Freehold – Subject to a full repairing and insuring lease to BRAC Saajan Exchange Limited (a subsidary of BRAC Bank Limited) for a term of 10 years with effect from 01/03/2023 at an initial rent of £17,000 per annum and with a provision for rent review on 01/02/2028.A copy of the lease documentation will be available for inspection 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.
