Mixed Use in Birmingham

13 York Road, Erdington, Birmingham B23 6TE
  • Lot No: 62
  • Property Type: Mixed Use
  • Contract Type: Unconditional with Fixed Fee

Guide Price* £290,000+ plus fees

Result Sold at Auction £319,000

Property Description

Investment opportunity with potential to produce £38,000 per annum equating to a yield of over 12% based upon the Guide Figure. A mixed use property being located adjacent to Erdington High Street, Birmingham leading to high footfall for commercial space and constant room rental demand. Showcased by shop lease held from 2013 and two out of four flats rented through same tenants from 2017. Erdington Railway station less than 0.4miles. The property has been converted into 5 units with ASTs confirming £36080 pa, with potential to rent out additional commercial space generating extra £2000 pa. All electric charges and bills are born by each tenant directly through prepaid meters. Keeping Gross Yield intact which is a positive consideration. Comprising of a retail shop to the front with a ground floor flat and separate conservatory to the rear. On the first floor there are two flats with another flat being located on the second floor. Please see the legal pack for confirmation of the tenancy agreements and the rental income.

Ground Floor:

Retail Shop Flat Conservatory


First Floor:

Two self contained flats


Second Floor:

Self contained flat


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 June 2022

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

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Map

13 York Road, Erdington, Birmingham B23 6TE