Mixed Use
The property comprises a brick built three storey mid terrace building surmounted by a pitched roof along with a dormer window.
The commercial accommodation is accessed via Slade Road and benefits from a roller shutter. The accommodation comprises a former office with trading area of approximately 350 sq feet (32 square meters) along with kitchen, wc facilities and rear courtyard access.
The first and second floor compilation is accessed via a separate entrance fronting Slade Road and has recently been refurbished. The accommodation comprises four double bedrooms, two bathrooms, a living room and kitchen.
The property is located along Slade, Erdington within a parade of mainly mixed-use buildings. The general area is predominantly residential dwellings with a high demand for rented accommodation due to its close proximity to Birmingham city centre being less than 3 miles away. The property benefits from good transport links via bus and train.
We understand the property is Freehold subject to the following tenancies:
Ground Floor Commercial Unit: Vacant possession upon completion.
First and second floor residential accommodation: Let on an Assured Shorthold Tenancy Agreement for a term of 6 months commencing 31/08/19 producing £750 pcm (£9,000 per annum).
We understand that VAT will not be chargeable on this transaction.
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.
