Commercial Property
A Freehold flush fronted Sandwich Shop premises with residential flat above situated in the centre of the busy shopping centre at Rowley Regis.
Hot Food Takeaway and Cafe with Seating Area, Servery, Kitchen, Store Room and WC.
Accessed from a separate side entry with stairs to the first floor flat, with Lounge, Kitchen, One Bedroom and Bathroom.
The property has the benefit of electric heating and the majority of the windows are UPVC double glazed units.
We understand that the property is Freehold and being sold subject to the existing tenancies.
Ground Floor Cafe & Takeaway - Let on a 6 year renewable Lease from the 1st January 2013 at £12,000 per annum.
First Floor Flat - Let on an Assured Shorthold Tenancy for 6 months from the 3rd December 2017 at £300 per calendar month - £3,600 per annum.
Total annual income: £15,600 per annum.
Prospective purchasers should note that the Auctioneers have not had the opportunity to inspect the property prior to going to Auction and therefore the accommodation details should not be relied upon.
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.
