Wood Street, Willenhall

Suitable for Investors & Developers
Approximately 13,000 square feet
Large Workshop / Industrial Space
Ground Floor Shopfront / Office
Residential Development Potential STPP
Part of the property is currently occupied by a tenant under a five-year lease at a rent of £1,600 per calendar month

SUITABLE FOR INVESTORS / DEVELOPERS
Being Sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £365,000.

An exciting opportunity to acquire a substantial and versatile commercial premises with associated land, offering excellent potential for a variety of future uses, subject to the necessary planning permissions.

The property extends to approximately 13,000 sq ft in total, comprising approximately 6,500 sq ft on the ground floor and a further 6,500 sq ft on the first floor.

Under the proposed future layout, the building could be divided into five separate sections.

Part of the property is currently occupied by a tenant under a five-year lease at a rent of £1,600 per calendar month. The tenancy relates solely to an approximately 2,000 sq ft section situated at the rear of the first floor.

The tenant benefits from exclusive use of this area, together with a separate private entrance and staircase. The leased accommodation also includes three washrooms.

The property currently comprises a ground-floor shopfront/office with a large display window, together with roller-shutter access leading into a substantial traditional workshop/industrial area. A further roller-shutter door provides access to the external yard, while the first floor offers additional office accommodation.

The existing buildings could be renovated and retained for commercial use, potentially suiting a range of businesses requiring workshop, storage, office or trade premises. Alternatively, the site may offer development potential for residential dwellings, subject to obtaining the appropriate planning consent.

Viewing is highly recommended to fully appreciate the size, versatility and potential this unique property and site have to offer.

Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as ‘The Auctioneer’.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

The advertised price is commonly referred to as a ‘Starting Bid’ or ‘Guide Price’ and is accompanied by a ‘Reserve Price’. The ‘Reserve Price’ is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the ‘Guide Price’ / ‘Starting Bid’.
These prices are subject to change.

An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee up to 7.2% inc VAT (subject to a minimum which could be up to £7,200 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.

Tenure: Freehold