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Lot 3

(GROSS YIELD 16.9%)
6 Week completion

SITUATION

Located close to the junction with St. Chad's Road within this established retail thoroughfare amongst a variety of multiple and local traders including Costcutter, Barclays, Lloyds Bank, William Hill, Subway, Co-operative Food and Greggs. Longbridge Rail Station is approx. 2 miles to the west.
Rubery lies approximately 10 miles south-west of Birmingham city centre and benefits from good road links via the A38 Birmingham Road which links to the M5 (Junction 4) just a short distance away.

PROPERTY

A mid terrace building comprising a Ground Floor Shop with separate rear access to a Self-Contained Flat planned on the first and second floors. The shop benefits from the use of a communal service area at the rear.

VAT is applicable to this Lot

TENURE

Leasehold for a term of 2,000 years from 23rd August 1984 at a Peppercorn ground rent.

Note 1: The tenant currently pays £6,500 p.a. by way of a personal concession which expires on 25th March 2019 and is not binding on the Purchaser.

*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.

143 New Road, Rubery, Birmingham, West Midlands B45 9JW