No bars, no signal predictedOne bar, reliable signal unlikelyTwo bars, may experience problems with connectivityThree bars, likely to have good coverage and receive a data rate to support basic web servicesFull bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
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Office

Auction
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Office
0 bed
0 bath

Property description & features

  • Tenure: Freehold
  • Freehold subject to the following tenancies.
For Sale By Public Auction on 14 December 2023 starting at 09:00 AM - Live-streamed Auction

A Freehold Fully Let Office Investment Property Located Within An Award Winning Regeneration Project Close To Coventry City Centre.
Current Rental Income £32,000 PA



The property comprises a stand alone three storey office building towards the rear of the development. We understand the building was constructed in 2006 as a High Eco value building, with security and fire alarms. The units are fully double glazed, with electric heating systems, Category 5 cabling throughout, a kitchen unit within each suite and shared WC's on each floor. Each unit also benefits from two parking spaces and there is a generous additional visitor parking within the development.
Suites unit 5 & 6 have been sold off on a long leasehold for 150 years.

Location
Electric Wharf is a thriving creative Canalside scheme which is located immediately to the north of Coventry City Centre. Cable Yard is located at the heart of the scheme which itself is at the centre of continuing rejuvenation and regeneration in this established mixed use development. The property is easily accessible from junction 9 of Coventry City ring road and is within easy walking distance of Coventry city centre via the feature footbridge over the canal.

Energy Performance Rating
Unit 1- E (111)
Unit 2- E (107)
Unit 3- E (105)
Unit 4- E (102)

Tenure
Freehold- subject to the following tenancies.

Value Added Tax
We understand VAT is applicable on this transaction. For those who are VAT registered, the intention would be to treat as a TOGC.
Full details will be available within the legal pack.

Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.

Viewing Times
Strictly by appointment with the Auctioneers.

Live-streamed Auction
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction.

Disclaimer
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information or on the Bond Wolfe’s website.

*Definition of Guide Price and Reserve
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneer's expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

Costs at Auction
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,680 inc VAT (£1,400.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.

Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations. The legal packs and further information about buying at auction are available on the Bond Wolfe’s website.

Places of interest

    Our latest auction recorded 203 lots sold from the 213 offered, representing a success rate of 96% and raising £20.3 million in sales, breaking the record for the largest and most successful auction ever held outside of London.   This brings our total sales in the 7 auctions we have held since we launched to over £101 million. We have a record-breaking and award-winning property auctions team with over 300 years’ combined experience in selling residential, commercial and mixed-use property, investments and land/development sites.  We are the only auctioneers in the Midlands to have dedicated experts in each sector and we also have experience in handling more unusual properties such as garage blocks, ground rents, former public houses, churches, police stations and nursing homes. With our ‘traditional values and modern solutions’ approach, you can trust our passionate and dedicated team to look after you and your property, whilst taking advantage of the latest processes and technology.

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    *DISCLAIMER

    Property reference 229077. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Bond Wolfe Auctions - Birmingham.

    OnTheMarket may have applied supplementary data to this property listing, including:

    Broadband availability and predicted speed

    Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:

    Basic: Up to 30 Mbit/s
    Super-fast: Between 30 Mbit/s and 300 Mbit/s
    Ultra-fast: Over 300 Mbit/s

    The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2

    Mobile phone signal availability and predicted strength

    Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:

    Clear: No bars, no signal predicted
    Red: One bar, reliable signal unlikely
    Amber: Two bars, may experience problems with connectivity
    Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
    Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services

    Energy Performance data and Internal floor area

    Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.

    *Call rate information

    Calls to 0843 numbers will be charged at 4p/min from BT landlines. Calls from other networks may vary, and calls from mobiles and outside the UK will be higher. Calls to local numbers beginning with 01, 02 and 03 numbers will incur standard geographic charges from landlines and mobiles.