Maypole Street Wombourne, Wolverhampton Auction Guide Price £170,000

**FOR SALE BY MODERN METHOD OF AUCTION - AUCTION ENDING 15TH MARCH AT 11.30AM**
FREEHOLD INVESTMENT FOR SALE (Present business unaffected)
Prominently positioned part commercial, part residential two-storey terraced property situated within a busy trading position in the centre of this bustling South Staffordshire village. The ground floor shop comprises a light and airy open plan retail area with rear storage and toilet and yard beyond. It is currently let to Compton Care on a 10 year lease from 2017 at a current rental of £11,000 per annum (upward rent review pending). The first floor one bedroom residential flat is accessed via a separate ground floor entrance and is let on a periodic Assured Shorthold Tenancy at a rental of £6000 per annum rising to £6,900 per annum from 1st April 2024. Total current rent passing £17,000 per annum.

TENURE: Freehold - EPC: Band 'B' (shop) Band 'C' (flat) - RATEABLE VALUE: £8,200 (shop) - COUNCIL TAX: Band 'A' (flat)

This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.