Commercial Property
The properties comprise a fully let high street retail parade of 5 no. retail units, 2 no. restaurants/bars with 6 no. residential apartments over (one 2 bed and five 1 beds) and communal gardens to the rear.
The retail units are of similar specification and configuration, ranging from approx. 467 sq.ft. to 577 sq.ft. The restaurants/bars are larger ranging from approx. 1,532 sq.ft. to 1,914 sq.ft., are double fronted and have specifications more suited to their use.
To the first floor there are five 1 bedroom apartments and one 2 bedroom apartment, generally providing lounge, kitchen, bedroom(s) and bathroom.
The properties are situated in a prominent position on Three Shires Oak Road in Bearwood, Smethwick. A busy high street retail location less than 0.5 mile from the A456 Hagley Road.
Birmingham City Centre is approximately 4 miles east and West Bromwich Town Centre is 3.5 miles north west. There are a number of train stations within close proximity and a regular bus service into Birmingham City Centre.
We understand the properties are held Freehold and are being sold subject to the existing tenancies as highlighted on the Tenancy Schedule.
See Marketing Pack on gva.app.box.com/s/0n3e1onzcfehuj7feq2yp5oyzlesapho
*The Landlord is currently negotiating new leases with the tenants of 107 & 111 Three Shires Oak Road (terms to be agreed)
We understand the property has planning consent for its existing uses. Interested parties to rely on their own enquiries with Sandwell Metropolitan Borough Council.
We understand all mains services are available. These services have not been tested and all interested parties should rely upon their own enquiries.
All prices quoted are exclusive of VAT.
Please note that there will be a 6 week completion on this Lot and not the usual 28 days.
Strictly by arrangement with the Auctioneers.
GVA
Freehold. Commercial investment.
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.
