Restaurant for sale

- Main Street, Solihull, B90

Guide Price* £500,000

Property Description

Key features

  • Long leasehold restaurant premises
  • Benefits from a recent refurbishment
  • Prominent glass frontage
  • Potential to split back into two separate units (stpc)
  • EPC Rating: D

Full description

For sale by auction on Wednesday 18th December 2019
At Birmingham Auction, Aston Villa FC, Holte Suite, Trinity Road, Birmingham, B6 6HE
Commencing at 11:30 am

A long leasehold vacant double fronted commercial unit currently trading as the Persia Restaurant benefiting from a recent refurbishment.

The property currently comprises a restaurant benefiting from a licence to sell alcohol and occupies the ground floor of a three-storey mixed use building benefiting from prominent glass frontages along Main Street and Gorcott Lane, with two separate access points. The property was originally two units and we feel it could potentially be split back into two separate commercial units, subject to planning consent, providing the new owner with more flexibility or a greater rental income.


Accommodation:

The accommodation is currently laid out with a more formal dining area of approximately 486 sq. ft. (45 sq. m.) with a separate bar area of approximately 950 sq. ft. (88 sq. m.) along with separate male, female and disabled wcs. The restaurant has 60 covers.

The kitchen is split into two parts with a serving hatch and extraction system and was fitted out to a high standard upon inspection. There is a separate office area along with staff wc and a refrigeration ‘cellar’ servicing the bar.

Externally to the rear is a shared car park along with local on street parking available.


Location:

The property is centrally located within Dickens Heath with a frontage along Main Street and Gorcott Lane, benefiting from a high footfall within an area of commercial and residential accommodation. Dickens Heath is a village offering a contemporary life style offering bespoke homes and apartments, restaurants, offices, shops, medical surgeries as well as a local library, Village hall and Village green to provide a community lifestyle. Dickens heath is within 5 minutes of the M42 Motorway, being 10 Minutes from Solihull and half an hour from Birmingham city centre.


Value Added Tax:

We understand that VAT will not be chargeable on this transaction, however, interested parties are advised to refer to the legal pack for clarification.


Tenure:

We understand the property is on long lease of 999 years and we would advise interested parties to refer to the legal pack for clarification. The unit is currently trading as a restaurant, however will be sold with vacant possession and any interested parties are advised to satisfy themselves as to what equipment will remain within the premises.


Viewings:

The restaurant and bar are open during public trading hours. Should you wish to view any other areas then this is strictly by appointment with the Auctioneers on .


Tenure
Leasehold

Viewing Details

Viewings can be booked online at sdlauctions.co.uk/property-auctions/ on the lot details, or by contacting our office.


Legal Pack

The legal pack will be available to download from our website (under the Lot Information section) prior to the auction and the buyer shall be deemed to have knowledge of same whether inspected or not. Any questions relating to the legal pack must be raised prior to the auction. Prospective buyers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The buyer will also be deemed to have read and understood the Buyers Terms printed within the sale catalogue and available under the Lot Information section of our website.


*Guide Prices and Reserve Prices

Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. A full definition of the Guide Price and the Reserve Price can be found in the Buyers Terms.


Energy Performance Certificates

EPCs can be viewed in full in the legal pack or from the lot information section of our website.


Auction Type: Unconditional with Fixed Fee

Contracts are exchanged on the fall of the hammer and a 10% deposit will be taken from the highest bidder. This deposit will contribute towards the purchase price.

Prospective buyers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or cheque deposits. Remote bidding facilities are also available, please see sdlauctions.co.uk/buy-property/telephone-proxy-internet-bidding/


Auction Fees

The sale of this lot is subject to a buyer’s administration fee of £1074 including VAT (unless otherwise stated in the catalogue description), payable on the fall of the hammer.

The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack, which can be downloaded from our website from the lot information section, or to find out more about any additional fees associated with this property please contact the auction office.

Full terms and conditions are available on the SDL Auctions website - sdlauctions.co.uk/wp-content/uploads/2019/04/SDL-Auctions_buyer-terms.pdf



Nearest stations

  • Whitlock's End (0.8 mi)
  • Wythall (1.3 mi)
  • Shirley (1.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

SDL Auctions Bigwood, Birmingham

155 Great Charles Street Queensway Birmingham B3 3LP

0121 396 0363 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Whitlock's End (0.8 mi)
  • Wythall (1.3 mi)
  • Shirley (1.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

SDL Auctions Bigwood, Birmingham

155 Great Charles Street Queensway Birmingham B3 3LP

0121 396 0363 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference bw_birmingham_1446723_15480. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by SDL Auctions Bigwood, Birmingham. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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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 Auctions Bigwood, Birmingham on 0121 233 5046.


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