EXISTING BUSINESS UNAFFECTED
A fantastic freehold investment opportunity comprising of a ground floor shop/office (let to Andrews estate agents) with a very well-presented 3-bedroom flat above. The ground floor office is let on a new 10 year lease at £18,000 per annum and the flat above is currently vacant but was previously let at £1,200 pcm. The property is situated in a highly prominent position on the Bath Road in Longwell Green and is capable of producing £32,400 per annum once the flat has been let. Easy access is provided to a range of local amenities and the A4174 Ring Road.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 4 August 2022 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
Strictly by Appointment with Maggs and Allen.
4 AUGUST AUCTION - FREEHOLD MIXED-USE INVESTMENT - SHOP/OFFICE & IMMACULATE 3-BEDROOM FLAT
A quality mixed-use investment comprising of a ground floor estate agents office with a self-contained and recently refurbished 3-bedroom flat on the first floor. The ground floor office is let on a new 10 year lease at £18,000 per annum and the flat above is currently vacant but was previously let at £1,200 pcm.
The property is situated in a prominent high street location on Bath Road in Longwell Green. Other notable occupiers in the vicinity include Tesco Express, Aldi and Harvester Restaurant. Excellent transport links are provided to the A4174 Ring Road and motorway network.
Please refer to floorplan for approximate room measurements and internal layout.
GROUND FLOOR -
Comprising of a well-presented estate agent's office providing a main sales area, office/meeting room, kitchen and toilet facilities.
FIRST FLOOR -
Comprising of a recently renovated first floor flat providing a large lounge/diner, three bedrooms, a modern kitchen and shower room.
RENTAL DETAILS -
Ground Floor Shop/Office - Let to Andrews Estate Agents on a new 10 year lease at £18,000 per annum.
First Floor Flat (2-Bedroom) - Currently vacant (Previously let at £1,200 pcm).
POTENTIAL TOTAL INCOME: £32,400 per annum
ENERGY PERFORMANCE CERTIFICATE -
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,200 plus VAT (£1,440 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a cheque/bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,440 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.