COVID-19 – Important Auction Information
For Sale By Auction | 18:00, 08 October 2020 | Lot 13

20 Spring Head, Wednesbury, West Midlands, WS10 9AD

*Guide | £85,000 PLUS (plus fees)

  • Commercial Property
  • Tenure: Freehold

Call the team on 0121 289 3838 for more information

Auction Date

Thu 08/10/2020

Auction Time

18:00

Auction Venue

Live Stream Auction

Mixed Use Investment

Situated in the heart of Wednesbury town centre this end of terrace, this mixed use investment provides an annual income of £8,240. Split into two units Ground Floor commercial and First Floor residential, the property comprises the following

Tenure

Freehold

Ground Floor

Ground Floor Retail Unit let on a new 3 year lease from September 2020 at a rent of £350 pcm, it is noted that the current tenant has been in occupancy for the previous 3 years. Retail Area 3.43m 7.6m with Storage area beyond and access to W.C and small Kitchen. A door leads to the rear.

First Floor

Self Contained Flat accessed via walkway from Riddings Lane, let an Assured Shorthold tenancy at £340.00 pcm, comprises Hallway, Kitchern 3.7m x 1.86m, Lounge 3.46m x 3.4m Staircase to second floor providing Landing with access to Bedroom 3.47m x 3m, Bathroom with white suite comprising panelled Bath, wash hand basin and W.C.

Outside

Gated access to rear courtyard from Riddings Lane.

Buyers Premium

A Buyers Premium of £600 ( £500 plus vat) will be charged in addition to our Administration Fee

Viewing

Limited viewing by appointment with the Auctioneers on 0121 289 3838

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Sandwell Metropolitan Borough Council

Solicitors

Mr Jeremy Lawrence, Pearman Smith, 35 Lichfield Street, Walsall, WS1 1TJ, Tel: 01922 624164

Additional Fees

Administration Charge - £1200 inc VAT payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.