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Lot 2

Freehold Ground Rent Investment with Valuable Reversion in approx. 7 years
6 Week Completion

Situation

Occupying a prominent position on the busy junction with the main A4040 Stoney Lane, in this popular town centre, close to branches of Domino's, Lloyds Bank, Reeds Rains, Iceland and a variety of independent retailers and opposite the Yew Tree Retail Park.
Yardley is situated approximately 3½ miles east of Birmingham City Centre and 13 miles west of Coventry, benefiting from good road links via the M42 (Junction 6) and M6 (Junction 4).

Property

A corner building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on the first floor.

Accommodation

Ground Floor Shop
Gross Frontage 29'6”
Return Frontage 17'3”
Internal Width 31'9”
Shop Depth 26'4”
Built Depth 29'4”
WC
First Floor Ancillary
Area Approx. 617 sq ft
2 WCs

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Bank of Scotland Plc (not in occupation - see Note) for a term of 99 years from 29th September 1932 at a fixed ground rent of £14 per annum exclusive.

Valuable Reversion in approx. 7 years.

Note: We understand that the entire property has been sub-let for a term of years from 29th March 2021 until 25th September 2031 to C Bastock (Funeral Directors) Limited at a rent of £21,000 p.a. with a Rent Review on 29th March 2026.

*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.

112 Church Road, Yardley, Birmingham, West Midlands B25 8UX