March 2022: Wednesday 02 March 2022 - 9:00am
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    Key features

    • Investment let at £36,120 pa (12.04% on Guide Price) + further commercial unit currently vacant
    • Shop let to tenant trading as Vapour Shop
    • Shop let from April 2019 until October 2025
    • Opportunity to increase rent with letting of further commercial unit
    • Includes four studio and one bed flats which are fully let
    • VAT-Free Investment

    Description

    The property comprises a three storey building arranged as a ground floor shop, with further commercial unit also on ground floor (currently vacant and ready to be let). There are two studio and two one bed flats arranged on ground, first and second floors.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please note that the areas have been taken from VOA and the property has not been inspected by Savills.


    Approximate Floor Areas

    Ground - Retail 46.90 sq m (505 sq ft)

    First - not measured

    Second - not measured

    Total Commercial Area - 46.90 sq m (505 sq ft)


    Tenancy

    Ground Floor Shop - Let to an Erdington Shop Ltd Ltd trading as Vapour Shop for 6.5 years from 20/04/2019 until 19/09/2025 at £10,200pa

    Ground Floor Commercial Unit - Vacant

    Ground Floor Studio Flat - £6,600 (£550 pcm) on a 6 month AST from 16/11/2017 (holding over)

    First Floor One Bed Flat - £6,600pa (£550 pcm) on a 6 month AST from 19/09/2020 (holding over)

    First Flood Studio Flat - £5,760 pa (£480 pcm) on a 6 month AST from 28/10/2019 (holding over)

    Second Floor One Bed Flat - £6,960pa (£580 pcm) on a 6 month AST from 07/01/2022

    Total - £36,120 pa


    Rent

    £36,120 pa
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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Erdington is a popular suburb of Birmingham approximately 4 miles north east of the City Centre. The property is situated in a prominent position on the south side of York Road, which joins High Street and Sutton New Road, with nearby occupiers including Iceland, Farmfoods, Betfred, Cancer Research, various banks and a number of independent shops, cafes and restaurants.

      Transport

      <4 miles north-east of Birmingham City Centre

      <0.5 miles from Erdington Train Station

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums