Offering a good opportunity to purchase a mixed use property comprising a single fronted ground floor retail unit within a storey building. Above the retail unit is a two bedroom flat with a long staying tenant in situ. Internally the property is in good order and has been well maintained by the existing owner.
The subjects are located on Chester Road in a prime position just a short distance from Tyburn Road and
Kingsbury Road in Birmingham. Several other retail units can be found nearby all located in a row of ten retail units on the busy Chester Road.
The premises extend to approximately 849 sq.ft. (78.8 square metres) comprising of a Large showroom with tiled walls (6.026m X 9.32m) small office with a Kitchenette and w/c both tucked behind the Showroom discretely.
There is also a small storage area which leads unto a large parking or Loading area with ample space for not fewer than 4 vehicles.
Previous Rental on retail unit was £10,500:00 with a rateable value of £6,600.
The subjects also includes a two bedroom flat with a current AST yielding £5700 annually.
This property is ONLY available for purchasers who are NOT in a chain
This property is ONLY available for purchasers who are NOT in a chain.
**This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately but grant 56 days to exchange and complete. This additional time to exchange on the property means interested parties can proceed with traditional residential finance.
Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable deposit of 1% (minimum of £2,500), which secures the transaction and takes the property off the market.
The buyer will be required to sign a purchasers agreement to confirm acceptance of terms prior to solicitors being instructed. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change.
Terms and conditions apply to the Modern Method of Auction and can can be viewed in full here.
Buyers - How it works
The Online National Residential Agency modern auctions enable buyers to make and monitor offers online 24 hours a day from any internet connected device. We ensure that buyers get a fantastic service and have the best possible opportunity to buy the property they want at a discounted price, quickly.
We market all properties at attractive 'Offers Over' prices to encourage a viewings and to achieve quick sale within 28 days. We send regular weekly SMS messages to remind buyers of the current highest offers and the Best and Final date therefore ensuring buyers have every opportunity to make and increase their bid at any time and not to miss out on a great property.
PLEASE NOTE: The end date is not fixed and if an acceptable offer is made beforehand then it may be accepted and the property withdrawn from sale so it is advised to make your offer as soon as possible.
- MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
- These particulars do not constitute part or all of an offer or contract.
- Any measurements indicated are supplied for guidance only and as such must be considered incorrect.
- Potential buyers are advised to recheck the measurements before committing to any expense.
- National Residential has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyer's interests to check the working condition of any appliances.
*By making an enquiry on this property you acknowledge that this property is strictly offers in excess of the marketing price provided. The market appraisal of this property has indicated a value in excess of our marketing price. As a consequence, and similar to any other vendor, the vendor is aiming to achieve as much as possible in excess of this marketing price provided.
**Please note this property is subject to an undisclosed Reserve Price which is generally no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Terms and conditions apply.
Properties With A Short Leasehold
Where a property is being sold with a short lease, the property can be purchased with either a short lease or with an extended lease, subject to buyer preferences and the offer price made. The starting bid will be set 10% below the cash price required to purchase with a short lease. Mortgage buyers who require a purchase with an extended lease must make a higher bid as this must also include the additional premium required to pay for the lease to be extended before completion. The cost of the lease premium can vary depending on the length the lease is to be extended and on negotiation with the purchaser and freeholder and whether the lease is to be extended by mutual agreement with the Freeholder or via the Statutory Route. Therefore, buyers must contact a member of the sales team to discuss this is greater detail.