Warehouse
The property comprises a traditional steel framed warehouse believed to have been built in the late 1940's/1950's. The buildings is part brick and rendered and part profile steel clad. The roof is pitched and is in a north right style. There is a large vehicular roller shutter door to the front elevation together with four smaller loading bays. Internally there is a solid concrete floor, three phase electricity and a gas supply with a partitioned office area. The accommodation to the front of the building extends to approximately 22,000 sq.ft. (2,043 sq.m.), there is a large surfaced car park/yard area which provides ample customer and staff car parking together with good circulation space.
The property occupies a prominent position fronting East Street at its junction with Paynes Lane within a well established and densely developed area, a short distance from Coventry city centre. Within the vicinity there are well established terraced residential properties with a mix of 1970's or 80's housing to the north west. There is a school to the south of the property on the opposite side of East Street whilst within the immediate vicinity the development is predominantly of an industrial nature much of which is of similar age to the subject property.
The property is well served with public transport links with bus services along Paynes Lane itself and with a Railway Station within Coventry city centre, a short distance from the property.
The property benefits from good access to the Midlands motorway network via junction 3 of the M6 motorway which lies approximately 3.5 miles north of the property and is accessed via the A444.
We understand that the property is Freehold and vacant possession will be given upon completion.
We understand that VAT will be chargeable on this transaction. Further details will be available within the legal pack.
Strictly by arrangement with 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.
