No longer on the market
This property is no longer on the market
MapRestaurant
Auction
Restaurant
Features and description
- 15/09/2022
- A Freehold Extensively Extended And Well Established Restaurant Investment Property Together With Living Accommodation On The First Floor Current Rental Income £28,000 PA
- Freehold. Subject to a lease for a term of 15 years commencing on the 1st September 2022 at an initial rent of £12,000 per annum and having 3 yearly rent reviews. The first floor living...
For Sale By Public Auction on 15 September 2022 starting at 09:30 AM - Live-streamed auction, you must pre-register to bid via our website with remote bidding online, by telephone or proxy
A Freehold Extensively Extended And Well Established Restaurant Investment Property Together With Living Accommodation On The First Floor
Current Rental Income £28,000 PA
The property comprises a two storey end of terrace with an extensive single storey extension to the rear, which has been trading as the Yew Tree Indian Restaurant since first opening in 1979.
The property comprises on the ground floor a well presented 60 cover restaurant with bar area, customer WC's, large well equipped commercial kitchen, stores/stock room, staff WC.
On the first floor there is self contained living accommodation comprising a lounge with kitchen area off, two double bedrooms both having en suite shower room, and WC facilities.
Location
The properties lies to the western side of the main A4040 Stoney Lane within the well established and popular east Birmingham suburb of Yardley near it's borders with Solihull, and a short distance north of the Swan Island and Yew Tree retail park.
The property benefits from an excellent trading location for it's existing use with both immediate catchment area for trade and passing trade and has been established for an excess of 40 years.
Energy Performance Rating
See legal pack.
Tenure
Freehold. Subject to a lease for a term of 15 years commencing on the 1st September 2022 at an initial rent of £12,000 per annum and having 3 yearly rent reviews.
The first floor living accommodation is let by way of two assured shorthold tenancies at £8,000 per annum each.
Full documentation in respect of the lettings will be available within the legal pack.
Value Added Tax
For clarification in respect of whether or not VAT will be chargeable on the purchase price please refer to the Legal Pack.
Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.
Viewing Times
Strictly by appointment with the Auctioneers.
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 all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information or on the Bond Wolfe’s website.
*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 Auctioneer's 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 £1,680 inc VAT (£1,400.00 + 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.
A Freehold Extensively Extended And Well Established Restaurant Investment Property Together With Living Accommodation On The First Floor
Current Rental Income £28,000 PA
The property comprises a two storey end of terrace with an extensive single storey extension to the rear, which has been trading as the Yew Tree Indian Restaurant since first opening in 1979.
The property comprises on the ground floor a well presented 60 cover restaurant with bar area, customer WC's, large well equipped commercial kitchen, stores/stock room, staff WC.
On the first floor there is self contained living accommodation comprising a lounge with kitchen area off, two double bedrooms both having en suite shower room, and WC facilities.
Location
The properties lies to the western side of the main A4040 Stoney Lane within the well established and popular east Birmingham suburb of Yardley near it's borders with Solihull, and a short distance north of the Swan Island and Yew Tree retail park.
The property benefits from an excellent trading location for it's existing use with both immediate catchment area for trade and passing trade and has been established for an excess of 40 years.
Energy Performance Rating
See legal pack.
Tenure
Freehold. Subject to a lease for a term of 15 years commencing on the 1st September 2022 at an initial rent of £12,000 per annum and having 3 yearly rent reviews.
The first floor living accommodation is let by way of two assured shorthold tenancies at £8,000 per annum each.
Full documentation in respect of the lettings will be available within the legal pack.
Value Added Tax
For clarification in respect of whether or not VAT will be chargeable on the purchase price please refer to the Legal Pack.
Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.
Viewing Times
Strictly by appointment with the Auctioneers.
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 all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information or on the Bond Wolfe’s website.
*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 Auctioneer's 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 £1,680 inc VAT (£1,400.00 + 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.
About this agent
Bond Wolfe Auctions - Birmingham
1st Floor 75-77 Colmore
Birmingham, West Midlands
B3 2AP
0121 721 1015Our latest auction recorded 203 lots sold from the 213 offered, representing a success rate of 96% and raising £20.3 million in sales, breaking the record for the largest and most successful auction ever held outside of London. This brings our total sales in the 7 auctions we have held since we launched to over £101 million. We have a record-breaking and award-winning property auctions team with over 300 years’ combined experience in selling residential, commercial and mixed-use property, investments and land/development sites. We are the only auctioneers in the Midlands to have dedicated experts in each sector and we also have experience in handling more unusual properties such as garage blocks, ground rents, former public houses, churches, police stations and nursing homes. With our ‘traditional values and modern solutions’ approach, you can trust our passionate and dedicated team to look after you and your property, whilst taking advantage of the latest processes and technology.