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Engleton Road, Coventry, West Midlands, CV6 1JF

Guide Price
£425,000

Business rates & charges may apply

Pattinsons, Pattinsons Auction- National Auctioneer
SIZE

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SECTOR

Commercial development for sale

Key features

  • IDEAL DEVELOPMENT OPPORTUNITY
  • THREE RESEDENTIAL UNITS PROPOSED
  • PRIME LOCATION
  • EXCELLENT POTENTIAL
  • APPROX 2900 SQFT
  • COMMERCIAL UNIT
  • PLANNING PERMISSION IN PLACE
  • FRONT AND REAR SPACE
  • SUBSTANTIAL DETACHED PROPERTY

Description

For sale via secure sale online bidding - terms and conditions apply.


**AN EXCEPTIONAL FREEHOLD DEVELOPMENT OPPORTUNITY ** Potential rental income of £50,280pa which equates to a 9.14% yield. A substantial and versatile detached property set on a large plot in a prime location which offers a multitude of uses and is currently set up as a mixed use of commercial and residential units with planning permission in place to convert the existing space into an additional three modern apartments, whilst retaining the commercial section. At present the ground floor comprises of a commercial unit with several storage rooms to the rear and side, the further two floors are residential at present with the second floor being a three bedroom flat with kitchen, lounge & shower room whilst the third floor is studio style flat – both are in need of refurbishment. Externally there is off road parking for several vehicles. Being situated close to the junction of Radford Road & Beake Avenue there is easy access to the city centre, the A444 & motorway network beyond. This interesting building is suitable for a variety of uses or redevelopment and offering great potential it is well worth a viewing.

Ground Floor - The ground floor is being operated as a commercial unit which is benefitting from a private entry, large customer waiting room and shop floor. There are 4 large rooms which are set up as a Staff Room/Kitchen, Eye Test Room, Chiropody Room and office. A further four Store Rooms, Boiler Room and two separate W/C's. There is planning permissions in place to convert this floor into one commercial unit and two modern flats, a two bed and a one bed, both having their own private entrances and the larger having a garden.

First Floor - At present the first floor has been partially renovated to an exceptionally high standard with newly fitted Howdens kitchen, modern shower room, spacious lounge and three generously sized double bedrooms.

Second Floor - Currently used as a Store Room, there is an excellent size room with kitchenette and feature Apex window with an additional eves storage room across the landing. It would be an ideal studio flat with the proper permissions.

External Spaces - Set on a large plot in a prime location the property benefits from tarmacked frontage and a paved rear area.

Tenure - Freehold - The agent has been informed that the property is offered freehold however any interested party should obtain confirmation of this via their own solicitor or legal representative.

Description

A substantial and versatile detached property set on a large plot in a prime location which offers a multitude of uses and is currently set up as a mixed use of commercial and residential units with planning permission in place to convert the existing space into an additional three modern apartments, whilst retaining the commercial section.

Location

Being situated close to the junction of Radford Road & Beake Avenue there is easy access to the city centre, the A444 & motorway network beyond.

EPC

Rating D & C

Tenure

Title number
WK29349 - Freehold

Additional Information

For further information please contact our office directly on , or alternatively via email on . With regards to viewing subject property, this is to be done strictly by appointment.

Auctioneers Additional Comments

Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.

Brochures

Engleton Road, Coventry, West Midlands, CV6 1JF

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Coventry Station1.6 miles
  • Canley Station1.9 miles
  • Coventry Arena Station2.1 miles

About Pattinsons, Pattinsons Auction- National Auctioneer

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Notes

These notes are private, only you can see them.

Disclaimer - Property reference 511851. 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 Pattinsons, Pattinsons Auction- National Auctioneer. 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.

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 Pattinsons, Pattinsons Auction- National Auctioneer on 0191 625 0964.

*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.”

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