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Commercial Property for sale

Vets 4 Pets, Lichfield Road, Shelfield, Walsall, WS4 1QQ

Sold STC £300,000

Property Description

Key features

  • A Modern Purpose Built Veterinary Practice Investment Current Rental Income: £22,000 pa
  • We understand that the property is Freehold subject to a full repairing and insuring Lease for 25 years with effect from the 19th November 2010, to Shelfield Vets 4 Pets Limited guaranteed by Vets...

Full description

Tenure: Freehold

For Sale By Auction on 8th December 2016

A Modern Purpose Built Veterinary Practice Investment
Current Rental Income: £22,000 pa

Tenure
We understand that the property is Freehold subject to a full repairing and insuring Lease for 25 years with effect from the 19th November 2010, to Shelfield Vets 4 Pets Limited guaranteed by Vets 4 Pets Veterinary Group Limited.
The current rent passing is £22,000 per annum with upward only rent reviews every 5 years. We are advised that the first rent review was not implemented and that there is a tenants option to break on the 15th anniversary of Lease commencement.
Further details and a copy of the Lease will be available for inspection within the Legal Pack.

Property Description
The property comprises a modern purpose built detached, single storey veterinary practice, comprising a reception and waiting area, three consulting rooms, pharmacy, laboratory, utility, two treatment rooms, a dog ward, a cat ward, staff room, office and WC's. To the rear there is a surfaced car park for approximately nine cars.

Location
The property is situated within a well established residential area occupying a prominent corner position fronting the busy Lichfield Road at its junction with Spring Road.
The property is considered to occupy an excellent trading position for its existing use as a modern local veterinary practice.

* Definition of Guide Prices
The guide price is an indication of the seller’s reserve price and is given to assist prospective purchasers. It is usual, but not always the case, that a provisional reserve is agreed between the seller and the auctioneer at the start of marketing. The guide price can be adjusted by the seller at any time up to the day of the auction in light of the interest shown during the marketing period. The guide price can be shown in the form of a minimum and maximum price range within which an acceptable price (reserve) would fall. Please note the reserve price will not exceed the top end of the guide price but the actual sale price can exceed the guide price. On occasions the sale price does exceed the guide price significantly.

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 SDL Bigwood Auctions, Birmingham on 0121 233 5046.


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