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2 bedroom retail property (out of town) for sale

Sladepool Farm Road, Maypole, Birmingham, West Midlands, B14 5EE

Guide Price* £145,000

Property Description

Key features

  • Freehold Commercial/Flat Investment

Full description

Tenure: Freehold

Guide Price = £130,000 - £145,000

Unsold, but is available at £140,000.

Property for auction on 13th October at 11:00 We are acting for the Joint Liquidators and not LPA Receivers as stated in the catalogue.
Please note amendments to the catalogue details as follows:
Retail shop one (Truth of Beauty) there where 2 years unexpired on the lease (not 8 years)
Retail shop two (AK Hair) the rental income is £2,750 per annum
First floor Flat the tenant advises he is paying £360 per calendar month (£4,320 per annum), however we are not in receipt of the tenancy agreement.


Property Description:
An end of terrace two storey investment property comprising of two ground floor retail units with a separate flat to the first floor. The property is of brick construction surmounted by a pitched tile clad roof, benefits from part UPVC double glazed windows and is located in a neighbourhood shopping parade set back from Sladepool Road behind a tarmacadamed forecourt which extends to the side of the property and provides ample customer car parking. The property is situated at the junction of Highters Heath Lane in a predominantly residential area and located approximately six miles to the south of Birmingham City Centre.

Tenancy Information
The Liquidators have been advised by the borrower that the property is currently fully let although at the time of printing, the Liquidators have not been provided with leases/tenancy agreements to validate the information provided. We are therefore unable to warrantee the tenancy information and all interested parties must make their own enquiries prior to bidding:
Retail Shop One: Trading as 'Truth of Beauty' and occupying on a lease of approximately 8 years unexpired at a rent of £240 per calendar month (£2,880 per annum)
Retail Shop Two: Trading as 'AK Hair' and holding over on a lease at a rental of £230 per calendar month (£2,760 per annum)
First Floor Flat: Currently let however tenancy details /rental amount not provided.


Ground Floor
Retail Shop One (Beauticians): Reception and Waiting Area: 13.16sq.mtrs (142sq.ft), Treatment Room: 11.09sq.mtrs (119sq.ft), Storage: 2.64sq.mtrs (28sq.ft)
Retail Shop Two: (Hairdressers): Hairdressing Salon: 24.28sq.mtrs (261sq.ft), Kitchenette: 1.72sq.mtrs (19sq.ft).
To the rear of the premises there is a Storage Room and Toilet shared by both shops

First Floor Flat
At the time of printing the catalogue the accommodation has not been inspected although we understand it to have Lounge, Kitchen, Two Bedrooms and Bathroom

Outside:
Tarmacadamed forecourt, side parking area and rear yard/garden

Legal Documents:
Available at www.cottons.co.uk

Viewings: Via Cottons 0121 247 2233


Energy Performance Certificates (EPCs)

Map & Street View

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Cottons, Auctions on 0121 247 2233.


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