Pub
The property comprises a substantial two-storey brick-built end of terrace building occupying a highly prominent position along Worcester Street and Pitt Street Wolverhampton.
We feel that the accommodation could lend its self well to a change of use into HMO or a mixed commercial/residential development in the future, subject to obtaining appropriate planning consent.
The accommodation is configured to provide ground floor bar and seating, along with male and female wcs and kitchen facilities.
The first-floor accommodation has not been inspected by the Auctioneers but is believed to comprise a kitchen, lounge, bathroom and three bedrooms.
The property is located in Wolverhampton city centre and benefits from a prime position fronting Worcester Street and Pitt Street. The local area comprises a mixture of offices, local and national retailers along with some residential accommodation with a number of large regeneration projects taking place within the vicinity.
We understand that the property is freehold and will be sold with a five year lease commencing on 07/01/19 to 07/01/2024 with a rent passing of £26,400 per annum inclusive of VAT.
The ground floor premises can be inspected in trading hours. The upstairs can be viewed by appointment with the Auctioneers.
We understand VAT will be chargeable on this transaction.
The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.
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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