Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 13

BY ORDER OF TRUSTEES
6 Week completion

SITUATION

Occupying a prime trading position adjacent to McDonald's and Ladbrokes in the heart of the pedestrianized town centre which includes an outdoor market (trading 6 days a week) and amongst other such multiples as Argos, Paddy Power, New Look, Santander, The Money Shop, Nationwide, Halifax and only 100 yards from the entrances to the Kings Square & Queens Square Shopping Centre's.
West Bromwich is a busy commercial centre located on the main A41, enjoying easy access to the M5 (J1) and the M6 (J8) some 5 miles north-west of Birmingham and 8 miles south-east of Wolverhampton.

PROPERTY

A mid terrace building comprising a Ground Floor Restaurant/Café with Cellar and separate front access to Ancillary Storage at first floor level.
In addition, the property benefits from vehicular access through metal gates from Paradise Street at the rear leading to an open yard area with parking for up to 6 cars as well as 2 small brick-built Store Buildings. The site depth is 187 ft.

ACCOMMODATION

Ground Floor Café/Restaurant (98 covers)
Gross Frontage 33'2"
Internal Width 28'1"
Restaurant Depth 54'9"
Built Depth 76'7"
Restaurant Area Approx. 1,435 sq ft
Kitchen Area Approx. 250 sq ft
3 Ladies WCs & 1 Gents WC
Cellar
Area Approx. 700 sq ft (max height 5'5")
First Floor Store/Staff
Area Approx. 390 sq ft
4 Rooms, Bathroom/WC

Total Area Approx. 2,775 sq ft

External Store Buildings - Not Inspected

VAT is applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Moore Café Ltd (with Guarantor) t/a Great Western Café for a term of 10 years from 27th October 2015 at a current rent of £30,000 per annum exclusive.

Rent Review and Tenant's Break 2020

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

242 Duchess Parade, High Street, West Bromwich, West Midlands B70 7QG