Land at Primrose Wharf, Cradley Road, Netherton, Dudley, DY2 9RH

Interested parties should contact Knight Frank Auctions for further information.

Description
On the instructions of a Charity.

The property comprises a secure fenced storage yard in an established urban industrial location with a mix of concrete and hardcore surface on a gently sloping site. Being a former Wharf, there is a Canal basin with access under the towpath bridge from the Canal, together with a variety of temporary buildings providing offices, trade counter and WC facilities.

The site area is approximately 1.21 acres (0.49 hectares).

We understand that all main services except gas are available to the site.

Tenancy
The property is let to Billingham's Garden & Building Supplies Ltd for a term of 15 years from 25th December 2019 (thus expiring 24th December 2034).
The lease was assigned to DIY BFS Dudley Ltd, by way of a Licence dated 16th December 2024.
The tenant has an option to determine the lease at any time on or after 25th December 2022 upon giving the landlord at least 6 months' prior notice.
Passing rent is £26,500 per annum.
5 yearly rent reviews.
Refer to the legal pack for further information.

Location
The property is located in Netherton, Dudley approximately 7 miles west of Birmingham and benefits from good road connection being approximately 3 miles west of Junction 2 of the M5. Connectivity is therefore good, with the M5 connecting south west and linking to the M6 heading north to Manchester. The property is located approximately 1 mile north of Cradley Heath Railway Station which connects to Wolverhampton with a travel time of approximately 29 minutes and Birmingham with a travel time of approximately 42 minutes.

The property has a road frontage to Cradley Road (B4173) and also abuts the Dudley No.2 Canal. The area to the north of the Canal is predominantly industrial, whilst to the south is predominantly residential. To the west of the property is a recreation ground.

Occupancy
Tenanted

Tenure
Freehold

The buyers fee is including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.

Auction Details
The sale of this property will take place on the stated date by way of and is being sold as Unconditional.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to the Common Auction Conditions and Extra General Conditions.

Auctioneer Fees and Deposit
The following deposits and non-refundable auctioneer fees apply:

• 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price.
• Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT.

The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.

Each property sold is subject to a Reserve Price. The Reserve Price 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. A full definition can be found within the Buyers Terms.