Retail property (high street)

LOCATION
Located within a busy parade of shops, ideally situated opposite Yardley Wood Train Station.

DESCRIPTION
Auctioneer Comments
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.8% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the
preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you

FULLY LET FREEHOLD INVESTMENT, The property comprise a ground floor retail unit and 2 bedroom flat above generating the following income, main shop and rear store with WC and small kitchen area, currently rented out at £8,400 PA gross with lease running till March 2026, there is also a 2 bed first floor flat generating £7,500 Pa gross, held on an AST granted September 2021.

ACCOMMODATION
Ground floor retail shop, front sales area 33'0" x 15'4" rear store and kitchen area 24'11" x 9'4", separate WC.
Flat above, access gained via the rear. Reception Room 15'3" max x 14', Bedroom 14'1" max x 8'4", Bathroom 7'1" x 6'5", Attic Bedroom 7'1" x 6'5"

TERMS
The ground floor shop is rented until March 2026 at £8,400 PA and the first floor flat is rented from September 2021 at £7,500 PA, further details are available on request.

OUTGOINGS
Current rateable value (1 April 2017 to present) £4,050, however may be small business exempt, subject to status.

PARKING NOTES
On street parking to the front of the property.

OTHER
NB: THIS IS AN INVESTMENT PURCHASE, WITH THE PREMISES FULLY LET

VIEWING
Viewing strictly via the agent, call 0121- 820 4113