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Commercial Property for sale

105-111 & 113-114 Three Shires Oak Road, Smethwick, Birmingham, B67 5BT

Guide Price* £1,100,000

Property Description

Key features

  • For sale by auction on Wednesday 24th October 2018 at Birmingham Auction, Aston Villa FC, Holte Suite, Trinity Road, Birmingham, B6 6HE commencing at 10:30 am.
  • Freehold mixed use investment property
  • Fully let high street retail parade of 5no. retail units, 2no. restaurants/bars with 6no. residential apartments over
  • Gross rent passing of 119,040 p.a.x. (ERV of 131,092 p.a.x.)
  • Excellent asset management potential
  • Offers in excess of 1.1m invited for the freehold interest.

Full description

All pre-auction offers for the property will be considered. If a satisfactory offer is received, and exchange of contracts (by way of auction contract) takes place prior to 24th October 2018, then the property will be immediately withdrawn from the auction.


The retail units are of similar specification and configuration, ranging from approx. 467 sq.ft. to 577 sq.ft. The restaurants/bars are larger ranging from approx. 1,532 sq.ft. to 1,914 sq.ft., are double fronted and have specifications more suited to their use.
To the first floor there are five 1 bedroom apartments and one 2 bedroom apartment, generally providing lounge, kitchen, bedroom(s) and bathroom.

Location

The properties are situated in a prominent position on Three Shires Oak Road in Bearwood, Smethwick. A busy high street retail location less than 0.5 mile from the A456 Hagley Road.

Birmingham City Centre is approximately 4 miles east and West Bromwich Town Centre is 3.5 miles north west. There are a number of train stations within close proximity and a regular bus service into Birmingham City Centre.


Tenure

We understand the properties are held Freehold and are being sold subject to the existing tenancies as highlighted on the Tenancy Schedule.


Tenancy Schedule

See Marketing Pack in Virtual Tour tab.
*The Landlord is currently negotiating new leases with the tenants of 107 & 111 Three Shires Oak Road (terms to be agreed).


Planning

We understand the property has planning consent for its existing uses. Interested parties to rely on their own enquiries with Sandwell Metropolitan Borough Council.


Services

We understand all mains services are available. These services have not been tested and all interested parties should rely upon their own enquiries.


Value Added Tax

All prices quoted are exclusive of VAT.


Auctioneers Note

Please note that there will be a 6 week completion on this Lot and not the usual 28 days.


EPC Rating

105-106 & 105a-106a - See Legal Pack. 107 - B, 107a - C, 108 - C, 108a - D, 109 - C, 109a - D, 110 - D, 110a - D, 111 - E, 111a - C, 113-114 - C.


Viewings

Strictly by arrangement with the Auctioneers


In Partnership with
GVA

The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.


*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, would ordinarily 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. For a full definition of Guide Price and Reserve Price go to www.sdlauctions.co.uk


Energy Performance Certificates

EPCs can be viewed in full on our website www.sdlauctions.co.uk on the sales details page or in the legal pack.


Note

Prospective purchasers 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 credit card deposits.

The sale of each lot is subject to a buyer's fee of 1074 (inc VAT) payable on the fall of the hammer.


Auction Fees

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, www.sdlauctions.co.uk or to find out more about any additional fees associated with this property please contact the auction office.



Nearest stations

  • Smethwick Galton Bridge (1.1 mi)
  • Smethwick Rolfe Street (1.3 mi)
  • Langley Green (1.8 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

  • Smethwick Galton Bridge (1.1 mi)
  • Smethwick Rolfe Street (1.3 mi)
  • Langley Green (1.8 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 AUCTHREESHIRES. 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.

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

*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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