2 bedroom Mixed Use in Birmingham

102 High Street, Erdington, Birmingham B23 6RS
  • Lot No: 18
  • Property Type: Mixed Use
  • Contract Type: Unconditional with Fixed Fee

Guide Price* £200,000+ plus fees

Result Sold at Auction £292,000

Property Description

A mixed-use investment opportunity benefitting from a prime location along High Street, Erdington, 3 Miles North of Birmingham City Centre offered fully let producing £25,200pa (plus vat on the commercial rent) The ground floor is occupied (and has been for the past 20 years) by the British Heart Foundation who pay £14,400pa rent plus vat. The current tenants have 4 years left of a 5 year lease. The first floor accommodation comprises a substantial storage area which could potentially be converted into a residential unit owing to its access from the rear of the building (subject to planning consent). The second floor comprises a two-bedroom apartment with access from the rear of the property and recently refurbished to a very high standard. The apartment is let on a 12 month Assured Shorthold Tenancy contract from 06/09/2023 at £900 pcm. The building is electable for VAT - Interested parties are advised to inspect the legal pack for more information.

Draft Sales Details

These sales details are awaiting vendor approval.


Note

Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.


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 28th September 2023

Venue National Property Auction
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.

Lot Information

Contact Us

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

Map

102 High Street, Erdington, Birmingham B23 6RS