Serviced Office
A superb opportunity to acquire two storey Serviced Office Centre. Currently generating approx £70,000 per annum gross with potential for asset management to increase to circa £130,000 per annum.
Faraday Business Centre is located on Windsor Road forming part of the Enfield Industrial Estate close to Redditch Town Centre and close to the established residential areas of Batchley and Brockhill which continues to expand to the north and east.
Nearby occupiers include Pochins, Screwfix, Mettis aerospace and range of independents including Tool and plant Hire, motorcycle dealership and bed centre.
The Property comprises a approximately 7,000 sq.ft. NIA serviced Office Centre set over two floors providing a good complement of Single and General Offices which can easily be combined for occupiers requirements.
The Premises were comprehensively refurbished approximately 5 years ago to include separate Male and Female WCs, shared Kitchenette and Breakout areas together with an impressive Reception. Substantial investment was made into the IT infrastructure and the offices are fitted with quality furniture though out.
Outside, ample parking is provided in front and to the side of the Premises.
We have not measured the premises but relied upon floor areas provided by our Client.
The Property is currently Let on a variety of flexible Licences/Tenancy Agreements, including a number of established tenancies, generating a current gross income of £71,084 pa. A Tenancy schedule and sample tenancy agreement will be made available within the legal pack.
There is potential to create additional Letting space and to secure Tenants for the void areas, including possible trade counters, which could potentially increase the Gross Rental Income by up to £55,000 pa.
All mains services save for Gas are believed to be connected and available.
The Property is currently well managed by our Clients and we understand that running costs are very low, full details can be provided.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
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 auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £1,500 inc. VAT
The Buyers 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 Price
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.
