Dolmans Yard, Corner of Broad Street/Earl Street, Bilston, WV14 0BU
Commercial Investment with Residential Flat in Bilston
Guide price*
£320,000+
Plus fees
Unsold, please refer to Auctioneer
Lot information
Commercial Investment
Mixed Use
Auction details:
Wednesday 23rd October 2019 @ 10:30AM
A Freehold Commercial Investment with Residential Flat Current Gross Income: £40,310 pa.
Property Description
A mainly commercial investment comprising a shop premises with flat over and additional workshop units and yard.Accommodation
Ground Floor: Shop Unit currently used for the sale of hardware and hydrauponics with a self contained flat above. An additional 12 units some interconnecting.First Floor: Self contained unit.
Energy Performance Rating
Units 1 & 2 - C, Units 3 - C, Unit 4 - C, Unit B -E, Units C, D & E - C, Unit F - C, Units G & H - C, Unit J - E, Unit K - E.Tenure
Freehold – Subject to the existing tenancies.Planning
The property may be suitable for residential development subject to obtaining the necessary planning consents from Wolverhampton City Council planning department.Tenancy Details
The flat is let on an Assured Shorthold Tenancy, at a rental figure of £106 per week - £5,512 per annum.The shop premises is let at a rental figure of £675 per calendar month - £8,100 per annum.
Unit 4 (Pest Control) let at a rental figure of £250 per calendar month - £3,000 per annum.
Units H, G, C & E (Mini World) let at a rental figure of £730 per calendar month - £8,760 per annum.
Unit B (Bilston DIY) let at a rental figure of £180 per calendar month - £2,160 per annum.
Unit A let at a rental figure of £180 per calendar month - £2,160 per annum.
Unit F let at rental figure of £54.89 per calendar month - £658.68 per annum.
Unit K let at a rental figure of £140 per calendar month - £1,680 per annum.
Chiropody Unit let at a rental figure of £150 per calendar month - £1,800 per annum.
Unit 1 (Budget SO) let at rental figure of £380 per calendar month - £4,560 per annum.
Jim's Transport let at rental figure of £160 per calendar month - £1,920 per annum.
Total Rental Income: £40,310 per annum.
Auctioneers Note
Please note the Auctioneers have not had sight of the tenancy agreement at the time of going to print and the tenancy details should not be relied upon.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 £2,160 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.
