Retail premises for sale

1 High Street, Wednesfield, Wolverhampton, West Midlands WV11

For Sale By Public Auction on 05 February starting at 08:30 am - A well established town centre retail investment property. Current rental income £8,780 pa.

The property comprises a two storey end terrace property comprising a long established and well presented Gents outfitters and formal suit hire business.
The accommodation is configured to provide two main retail areas on the ground floor, cellar storage and two good sized stock rooms on the first floor, with kitchenette area and WC.
The tenant has been in occupation for approximately 25 years and the accommodation is well presented throughout.

Location
The property stands within a parade of similar properties occupying a prominent position fronting the High Street at it's junction with Alfred Squire Road and Rookery Street within Wednesfield Town Centre, within the vicinity there is a mix of local traders, a large Sainsburys Superstore, and other commercial uses.
Wednesfield lies approximately 2 miles from Wolverhampton City Centre and 10 miles from Birmingham.

Energy Performance Rating
See legal pack.

Tenure
Freehold Subject to a lease for the term of 5 years with effect from 18th January 2016, the tenant is currently holding over at a current rent of £8,780 pa, as such this offers the new owner an asset management opportunity.

Value Added Tax
We understand VAT is not applicable on this transaction.

Pre-auction Offers
Please note that offers in excess of the guide price may be considered prior to the Auction Sale.Viewing Times
Strictly by appointment with the Auctioneers. Please complete the request a viewing' form or contact the office.

Live-streamed Auction
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction.

Disclaimer
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

Viewings
All viewings are undertaken at your own risk. It is recommended that you take a torch, as not all properties have electricity, and that appropriate clothing is worn. Bond Wolfe under no circumstances shall be liable and will not accept any responsibility for any indirect incidental, consequential, special, or exemplary damages, injury and/or death arising in connection with your access to any property, caused as a result of the property’s state of repair or your use/decision to use your own equipment or any furniture, equipment or appliances in the property.

*Definition of Guide Price and Reserve
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

Costs at Auction
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer's gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £2,340 inc VAT (£1,950.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.

Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations. The legal packs and further information about buying at auction are available on the Bond Wolfe's website.