318 Glascote Road, Tamworth, Staffordshire, B77 2AX
Mixed use property in Tamworth
Guide price*
£240,000
Plus fees
Lot information
Mixed Use
Auction details:
Wednesday 11th December 2024 @ 08:30AM
A freehold mixed use investment property comprising of a hot food takeaway and two one bedroom self contained flats Current rental income £23,100 PA
Property Description
A prominent detached two storey property of brick and tile construction, which is configured to provide a modern hot food takeaway with ancillaries and two self contained one bedroom flats each having a lounge, kitchen and bathroom. Outside and standing on the forecourt are some parcel collection lockers.Location
The property occupies a prominent frontage to the southern side of the B5000 Glasscote Road opposite it's junction with Argyle Street, within a popular and well established predominantly residential neighborhood, approximately one and a half miles east of Tamworth town centre.Energy Performance Rating
BTenure
Freehold – Subject to the existing tenancies.Tenancy Details
Ground FloorRetail Unit: Let by way of a 15 year lease with effect from 13/09/2023 at a current rent of £8,400 per annum. There is provision for a rent review every 5 years.
Flat 1: Let by way of an assured shorthold tenancy at a current rental of £600pcm (£7,200 per annum).
Flat 2: Let by way of an assured shorthold tenancy at a current rental of £550pcm (£6,600 per annum).
Storage Lockers: Let to InPost Lockers at a current rent of £225 per quarter (£900 per annum).
We have not had full sight of the lease and tenancy documentation copies will be available within the legal pack.
Value Added Tax
For clarification in respect of whether or not VAT will be chargeable on the purchase price please refer to the Legal Pack.Viewings
Strictly by appointment with the Auctioneers, whilst we endeavor to obtain access for interested parties it should be noted that the property is an investment and access is at the tenants discretion and therefore cannot be guaranteed.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.
