Island Works, 122 Holyhead Road, Birmingham, B21 0BS
Freehold industrial/office investment in Birmingham
Guide price*
£900,000
Plus fees
Withdrawn Prior
Lot information
Commercial Investment
Auction details:
Wednesday 9th December 2020 @ 09:00AM
Live-streamed Auction
A Freehold Industrial/Office Investment set in 0.68 acres (approx) and let to a long term established tenant, producing £75,000 PA.
Property Description
The property comprises a substantial two storey office building fronting Holyhead Road with a frontage of some 150 feet. Immediately beyond is extensive warehousing that reaches and connects with the A4040 Island Road behind. To the front there is courtyard and undercroft parking whilst to the rear there is goods access points from Island Road. In total, the site area extends to 0.68 acres or thereabouts.Location
The property occupies a prominent location fronting the main A41 Holyhead Road and backing onto the A4040 Island Road with rear goods access. It sits adjacent to Wickes DIY store and Handsworth Service Station and close to The Range homeware store and other local amenities. There is good public transport and access to Birmingham City Centre which is located some 3 miles South East of the property. The property has strong access to the local road and motorway network with Junction 1 of the M5 approximately 1 mile away.Energy Performance Rating
D.Tenure
Freehold – Subject to the existing tenancy.Tenancy Details
The property is let in its entirety to Rudd Macnamara limited for a term of 10 years from 3/7/2018 expiring 2/07/2028 at a passing rent of £75,000 per annum exclusive. There is an open market rent review and option to determine at the 5th anniversary.Rudd Macnamara are a print and industrial graphics manufacturer trading since its inception in 1890.
Value Added Tax
We understand that VAT is not applicable on this transaction.Auctioneers Note
Please note offers may be considered prior to the Auction Sale.Remote Bidding Auction
This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.Viewings
Strictly by appointment with the Auctioneers.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.
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. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
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 £1,920 inc VAT (£1,600.00 + 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. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. 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.
