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Lot 28

6 Week Completion

Situation

Located at the junction with Bromley Lane and Lapwood Avenue within this established parade which includes a Spar Supermarket serving the surrounding residential area.
Kingswinford lies close to the A491 approximately 4 miles west of Dudley and 12 miles west of Birmingham city centre with easy access to the M5 (Junction 2).

Property

A mid terraced building comprising a Ground Floor Take-Away (A5 Use) with separate rear access via a communal balcony to a Self-Contained Flat on the first floor. In addition, the property includes a Garage and use of a front shoppers' car park and rear service area.

Accommodation

Ground Floor Take-Away
Gross Frontage 17'11”
Internal Width 17'0”
Shop Depth 18'1”
Built Depth 43'3”
WC
First Floor Flat
2 Bedrooms, Living Room, Kitchen, Dining Room/Office, Bathroom/ WC
(GIA Approx. 655 sq ft)
Plus Garage

VAT is applicable on 80% of the purchase price of this Lot

Tenure
Leasehold for a term of 2,000 years from 25th March 1988 at a Peppercorn ground rent.

Tenancy

The entire property is let on a full repairing and insuring lease to T. C. Cheung as a Chinese Take-Away for a term of 20 years from 24th June 2011 at a current rent of £10,650 per annum exclusive.

Rent Reviews June 2016 (not yet actioned) and 5 yearly.

Note: There is a £5,325 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

Unit 5 Crestwood Park Shopping Centre, Bromley Lane, Kingswinford, West Midlands DY6 8RP