Commercial Property
The property comprises a spacious former pub premises, once known as the Five Ways, which has been converted by the current owner to create an open plan retail/showroom area on the ground floor and five self-contained flats over the first and second floors.
We have not undertaken a measured survey of the retail area, but are advised that it extends to approximately 2,453 sq.ft. and benefits from ancillary storage, kitchen and WCs. On the first floor there are four flats which briefly comprise the following:-
Flat 1: Large Breakfast Kitchen, Shower Room, Double Bedroom.
Flat 2: Living Room, Double Bedroom, Kitchen and Shower Room.
Flat 3: Living Room, Bedroom, Shower Room and Kitchen.
Flat 4: Breakfast Living Room, Double Bedroom, Shower Room.
On the second floor there is a further flat which briefly comprise the following:-
Flat 5: Living Room, Shower Room, Kitchen and Two Bedrooms.
The property is prominently located at the end of Cradley Heath High Street at its junction with Lower High Street, Graingers Lane and St Anne's Road. The area is a well established mix of retail and commercial users, together with residential accommodation.
We understand that the property is Freehold, subject to the tenancies below:-
VAT may be chargeable on this transaction. All interested parties should refer to the Special Conditions of Sale within the legal pack.
Strictly by arrangement with the Auctioneers.
Freehold.
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.
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