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La Favorita Restaurant, 72 Alfred Street, Sparkhill, Birmingham, B12 8JP

Lot no: 61 Unsold
 

Guide Price in excess of £675,000 plus fees

Unconditional with Fixed FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay the applicable deposit and Buyer’s Fee stated on the property description, both of which are non-refundable. The deposit contributes to the purchase price. The Buyer’s Fee does not contribute to the purchase price. Completion must take place usually within 30 days, unless the Special Conditions of Sale within the legal pack state otherwise.

Wednesday 6th September 2017

10.30am
Key Features
A Rare Opportunity to Acquire an Asian Italian Fusion Freehold Restaurant, complete with all equipment
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Commercial Property

Property Description:

A modern two storey restaurant with over 200 covers, kitchen facilities with equipment and two serveries, set back from the road behind a short forecourt.

Ground Floor

Entrance Porch, Restaurant with approximately 100 covers, Servery, Male, Female and Disabled WCs, Kitchens with preparation area, Asian and Italian cooking areas including Four 6 burner cookers, Hot Top Cooker, Two Twinwell Fryers, a Tandoor, Two Chillers and Two Walk-in Freezers. Patisserie Area with 4 Deck Oven and Stone Bake Pizza Oven. Side Access with Staff WC, Chemical Cupboard/Laundry and Security Office.

First Floor

Stairs from the Ground Floor lead to a Further Restaurant, which has recently been refurbished as a desert bar with approximately 110 covers over tables and 9 Booths. Servery with Two Refridgerator Displays, Ovens, Ice Cream Maker, Dumb Waiter, Office, Male & Female WCs, Rear Staircase and Store.

The restaurant has the benefit of gas fired underfloor heating and 3 phase air conditioning.

Tenure

We understand that the property is Freehold and vacant possession will be given upon completion.

Viewings

Strictly by arrangement with the Auctioneers.



Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees:

The following deposits and non- refundable auctioneer’s fee apply:

• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT

The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.