Commercial Property
A part let retail investment opportunity comprising one vacant unit and two let units sat within a two storey end of terrace building located along Wolverhampton Road, in the Heart of Cannock Town Centre. Current rent passing £9,000 per annum.
The ground floor comprises:
Number 1 - 3 Wolverhampton Road: A vacant retail unit which was until recently occupied by DB Roberts and partners. The unit extends 57 sq. m. (613 sq. ft.) and benefits from WC, Kitchen and a prime location with passing foot and vehicular traffic.
Number 5 Wolverhampton Road: A well-established barber shop currently paying £9,000 pa rent trading as Sneaky Pete.
First Floor 1 - 3 Wolverhampton Road was occupied by a beauty salon and is now vacant and extends above 1 - 3 Wolverhampton road. The unit benefits from laminate flooring, WC kitchenette and access directly from Wolverhampton Road.
Cannock is a popular town located to the North of Wolverhampton and Birmingham and is located 1 mile from the M6 Toll and 3 miles from the M6 and M54 motorways. The town centre is a vibrant mix of both local and national retailers with Subway, Reeds Rains and CEX exchange all close by.
Interested parties are advised to inspect the legal pack for more information.
These sales details are awaiting vendor approval.
Freehold. Part let/part vacant.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
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 fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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.
