Bank House, 35-41 Bott Lane, Walsall, WS1 2JQ
Commercial Investment Opportunity in Walsall
Guide price*
£325,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Wednesday 11th December 2019 @ 10:30AM
A Commercial Freehold Investment Opportunity
Property Description
The propperty comprises a mixed use commercial premises, incorporating two storey offices and warehouse/workshop space. The property is of traditional cavity brick construction with a ridged and pitched profile steel roof to the majority. Externally the property benefits from tarmac surfaced car parking off Bott Lane, with delivery and loading access provided to the roller shutter doors both from Bott Lane and Bank Street.Tenure
Freehold – Subject to the existing tenancy.Value Added Tax
We understand that VAT will be chargeable on this transaction, however may be treated as a Transfer of a Going Concern (TOGC).Viewings
Strictly by appointment. Please contact James Mattin on 0121 525 0600.Accommodation & Tenancy
The total gross internal area of building is approximately 6,155 sq.ft. (572 sq.m.). The property is currently split into four units as follows:-| Unit | Accommodation | Area | Lease Details | Rent |
|---|---|---|---|---|
| Unit 1 | Ground Floor - Office/Studio | 310 sq.ft. (28.80 sq.m.) approx. | Let to vintage Venue Styling on a new 3 year Lease. | £2,400 pax. |
| Unit 2 | Ground & First Floor - Office/Workshop | 3,347 sq.ft. (310.95 sq.m.) approx. | Let to UKP Accessories Ltd on a renewed Lease for a term of 5 years from 26th September 2019. There are tenant breaks at the third and fourth anniversaries. | £15,400 plus VAT pax. |
| Unit 3 & 4 | Garage/Workshop and Warehouse with Mezzanine Floor | 2498 sq.ft. (232.07 sq.m.) approx. | Let to Extra Personnel Ltd until 17th July 2020. | £9,100 pax. |
| Total | 6,155 sq.ft. (571.82 sq.m.) approx. | £26,000 pax. |
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.
