Commercial Property in Northfield

Northfield Market, 855-857 Bristol Road South, Northfield, West Midlands B31 2PA
  • Lot No: 155
  • Property Type: Commercial Property
  • Contract Type: Unconditional with Fixed Fee

Guide Price* £1,100,000+ plus fees

Result Sold at Auction £1,300,000

Property Description

DRAFT DETAILS The property comprises a two-storey concrete and brick framed, partly rendered with steel sheeting surmounted by a flat roof, and benefitting from a rear yard area (not inspected) with gross floor area of approximately 16,648 sq. ft. The main Market Hall is accessed via dedicated entrances fronting Bristol Road South with stalls on the outer perimeter and the centre of the building. Public WCs and staff facilities are located to the rear of the unit along with access to a rear car park area. There is also a commercial unit on the ground floor trading as Delight Sleep with a Caribbean restaurant on the first floor both benefitting from separate entrances along with a Boxing Gym. All the units were trading upon inspection in June 2021 with a vibrant mix of trades including a cafe, hairstylists, barbers, nails and beauty, large cafe, key cutting, shoe repair, engraving service, tailoring, haberdashery, phone repairs and accessories, vapes, tattoos and piercing, hair and beauty, mens clothing, florist, Caribbean grocery, handmade bath bombs, gifts, handmade cards etc. Many of the tenants have been present for many years and enjoy repeat trade with a real community feel.

Tenure

The premises are sold with the tenants in situ, and we have been advised of the following income and approximate unit sizes by the vendors agent. We advise interested parties to also inspect the legal pack for more specific information as to tenant details. There is a reported income of £209,508 per annum gross.


Location

The Market is located between 855 and 857 Bristol Road South, Northfield. It is approximately 8 miles from Birmingham City Centre access via the Bristol Road. Bus links in and out of the area to Birmingham are frequent. The University of Birmingham Selly oak campus is approximately 4 miles away.<br>The Northfield Shopping area is a vibrant mix of National and local retailers with Boots, Aldi, B and M, JD Sports, Home Bargains and many others all within walking distance of the site.


Value Added Tax

We are advised that VAT will not be chargeable on this transaction.


Viewings

The market trades office hours. The Separate commercial units are open 7 days a week. Further enquiries via the Auctioneers.


Tenure

Freehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee. Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees: The following deposits and non- refundable auctioneer’s fee apply: • 10% deposit (subject to a minimum of £5,000) • Buyer’s Fee of £1,500 inc. VAT The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding. Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties). Guide Price & Reserve Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Auction Details

Date 30th September 2021

Venue National Property Auction
The National Property Auction will be conducted behind closed doors. The auction will be live-streamed online with remote bidding only. Registration for bidding will close at 12pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

Northfield Market, 855-857 Bristol Road South, Northfield, West Midlands B31 2PA