1167 Foleshill Road, Coventry, West Midlands CV6 6EP *Guide Price ...
FOR SALE BY PUBLIC AUCTION
(Subject to Prior Sale and Conditions)
Village Urban Resort, Dolomite Avenue, Canley, Coventry, CV4 9GZ On Thursday 15th September 2016 at 6.30pm
1167 Foleshill Road, Coventry, West Midlands CV6 6EP
*Guide Price: £85,000 - £95,000
Unique location - Vacant commercial / retail premises (subject to consents), adjacent to the Ricoh Arena rear access (bus and taxi access). Approximately 1000 sqft with part single, part two storey accommodation, requiring improvement to fit purpose. Adjacent residential investment property also being offered at September 2016 auction as a separate Lot.
LOCATION An enviable corner location immediately adjacent to the bus and taxi access to the rear of Tesco Extra, Ricoh Arena. The property is located on the Foleshill Road (B4113), a busy main road, with numerous local shops and amenities, and only 1.5 miles (approx) from the M6 motorway.
EPC Current EPC Rating Awaited
ACCOMMODATION The property has excellent potential due to its location in such a prominent position. Once improved to fit purpose, has great potential rental income. Side pedestrian access leading into two open plan areas with W.C. facilities. Access to first floor accommodation requires creation from ground floor. Total floor area, on ground floor and first floor extends to approximately 1000 sqft. OUTSIDE Driveway / parking area. PLANNING The property has previously been used as a workshop. All enquiries regarding possible uses to be made to Coventry City Council. Tel: 02476 831 109 Email: [email protected] There is lapsed planning consent for the demolition of this part of the building plus the adjacent residential property for the construction of 13 flats (App No: FUL/2012/1775), granted on 12/12/2012. NOTE The existing Tyre Business (Cheapest Tyres) located to the rear is not affected and not included in this sale. NOTE The neighbouring residential investment property is also being offered as a separate Lot in the September Auction. TENURE Freehold with vacant possession
PLAN (For identification purposes only and does not form part of the contract}
BUSINESS RATES For enquiries on business rates visit www.voa.gov.uk. PHOTOS (A selection of photos can be found on our web site www.loveitts.co.uk)
Viewings are available by appointment with Loveitts, please call 024 7652 7789
LEGAL INFORMATION
*GUIDE PRICE & RESERVE PRICE
If you wish to view the legal information relating to this property please do not hesitate to contact Loveitts Auction Department or visit our web site www.loveitts.co.uk and register for ‘Auction Passport’ by following the instructions after clicking on the ‘LEGAL DOCUMENTS’ button on the right hand side. The legal information is also available via a HARD COPY which is stored in our office at Coventry and available to view within the office.
Guide Price ranges are provided as an indication of the sellers minimum expectations. They are not necessarily figures that the property will sell for and may change at any time prior to the auction. Each property will be subject to a Reserve Price which is the figure below which the auctioneer cannot sell the property at auction. The Reserve Price will be no higher than the upper end of the Guide Price range.
IMPORTANT NOTICE FOR POTENTIAL PURCHASERS TO COMPLY WITH ANTI MONEY LAUNDERING REGULATIONS, LOVEITTS MUST VERIFY THE IDENTITY OF ALL PURCHASERS. THEREFORE, IF YOU INTEND ON BIDDING PLEASE BRING WITH YOU:
PHOTOGRAPHIC PROOF OF IDENTITY 1. Current signed passport or 2. Current full UK Driving Licence
PLUS PROOF OF ADDRESS 1. Recent utility bill (issued in the last 3 months) or 2. Bank or Building Society statement DEPOSIT PAYMENTS CAN BE MADE BY EITHER: • Personal cheque • Bankers Draft or Building Society cheque • Debit card ONLY SHOULD YOUR BID BE SUCCESSFUL YOU WILL NEED TO PAY 10% DEPOSIT PLUS THE BUYERS PREMIUM.
BUYER’S PREMIUM (To be paid along with the 10% deposit) Guide Price up to £20,000 - Buyers Premium £450 (inc VAT) Guide Price £20,001 to £250,000 - Buyers Premium £600 (inc VAT) Guide Price £250,001 - Buyers Premium £840 (inc VAT)
Important Notice to Bidders 1. The attention of prospective purchasers is drawn to the general and special conditions of sale which are available for inspection at the office of the Vendors Solicitors and at the office of the Auctioneers, plus any addendums that are issued prior to or on the night of the auction. 2. Prospective purchasers shall be deemed to have inspected the relevant property. The vendor’s solicitors will provide a contract pack including the usual necessary searches and enquiries with all relevant authorities and other bodies. This is available for inspection at the Auctioneers office, during normal business hours. It is advisable to arrange for a survey of the property prior to the Auction. 3. As soon as the Auctioneers gavel falls on a bid, the successful bidder is under a binding contract to purchase the relevant property. The purchaser is immediately at risk in relation to the property and should therefore have confirmed bank or building society finance arranged (if required) and will also be deemed to have made prior arrangements for any insurance cover that is required. Completion will occur 28 days after exchange, unless otherwise specified. 4. On a property being knocked down, the successful bidder must immediately present to the Auctioneers Clerk his name and address and if appropriate, the name and address of the person or company on whose behalf he has been bidding, also the 2 forms of identification requested concerning the Money Laundering Act 2007 - this information is detailed separately. 5. The successful bidder must sign and exchange contracts with the Vendors Solicitors prior to leaving the room and at the same time pay to the Solicitor a deposit of 10% of the purchase price plus the Buyer’s Premium. In default of any of the above, the Auctioneer shall be entitled as Agent for the Vendors, to treat the failure or default as repudiation and rescind the contract. Thereafter the Auctioneer shall be entitled to re-submit the property for sale and if a successful bidder does not pay a deposit and/or complete the memorandum the Vendor reserves the right to claim any loss he suffers as a result. 6. The Vendor has a right to sell before Auction or withdraw the Lot and neither the Auctioneer nor the Vendor is responsible for any abortive costs, loss or damages incurred by a prospective purchaser in these circumstances. Information as to prior sale or the withdrawal of a Lot can be obtained from the Auctioneers at any time prior to the Auction but vaild only at the time of enquiry. 7. Prospective purchasers are strongly advised to check any sales particulars as to measurements, areas and all other matters to which the properties are expressed to be subject to and have the benefit of. In respect of any contents,fixtures and fittings, expressed to be included within the sale an inspection of the property must be made, and the Legal Information provided by the vendors solicitors must be inspected. All measurements and areas referred to in this catalogue are approximate only. 8. All location plans published in the particulars of sale are to enable prospective purchasers to locate the property only. The plans are photographically reproduced and therefore not to scale and are not intended to depict the interest to be sold but are for identification purposes only. The boundary lines and numbers on the photographs are again only to enable prospective purchasers to locate the property and are not intended to depict the interest to be sold. Purchasers are advised to view the special conditions in respect of the precise interest to be conveyed. 9. Any guide prices or any estimates or values mentioned in negotiations or discussions with the Auctioneers or any of their representatives cannot be relied upon by a prospective purchaser as representing professional valuations for any purpose in accordance with the requirements on guidance notes of relevant professional bodies or other authorities. In all respects prospective purchasers are deemed to have relied upon their own knowledge or the advice of their own professional or other advisors. 10. Guide Price ranges are provided as an indication of the sellers minimum expectations. They are not necessarily figures that the property will sell for and may change at any time prior to the auction. Each property will be subject to a Reserve Price which is the figure below which the auctioneer cannot sell the property below, at auction. The reserve price will be no higher than the upper end of the Guide Price range. 11. Bids may be refused at the Auctioneer’s discretion. The Auctioneers reserve the right to bid on behalf of the Vendor up to the reserve. 12. Inspection of investment properties is courtesy of the tenant. Inspection of properties with vacant possession only by arrangement with the Auctioneers. Interested parties should ring the office to discuss viewing arrangements or book keys before making their journey. 13. Properties sold at auction are not normally cleared of furniture and effects on completion. 14. Property Insurance: Please refer to contract information for confirmation as to the responsibility of insurance of the property in between exchange and completion.
For further guidance to Buying at Auction please visit our website: loveitts.co.uk.
Loveitts, 29 Warwick Row, Coventry, CV1 1DY
Tel: 024 7652 7789 E: [email protected] www.loveitts.co.uk
(Subject to Prior Sale and Conditions)
Village Urban Resort, Dolomite Avenue, Canley, Coventry, CV4 9GZ On Thursday 15th September 2016 at 6.30pm
1167 Foleshill Road, Coventry, West Midlands CV6 6EP
*Guide Price: £85,000 - £95,000
Unique location - Vacant commercial / retail premises (subject to consents), adjacent to the Ricoh Arena rear access (bus and taxi access). Approximately 1000 sqft with part single, part two storey accommodation, requiring improvement to fit purpose. Adjacent residential investment property also being offered at September 2016 auction as a separate Lot.
LOCATION An enviable corner location immediately adjacent to the bus and taxi access to the rear of Tesco Extra, Ricoh Arena. The property is located on the Foleshill Road (B4113), a busy main road, with numerous local shops and amenities, and only 1.5 miles (approx) from the M6 motorway.
EPC Current EPC Rating Awaited
ACCOMMODATION The property has excellent potential due to its location in such a prominent position. Once improved to fit purpose, has great potential rental income. Side pedestrian access leading into two open plan areas with W.C. facilities. Access to first floor accommodation requires creation from ground floor. Total floor area, on ground floor and first floor extends to approximately 1000 sqft. OUTSIDE Driveway / parking area. PLANNING The property has previously been used as a workshop. All enquiries regarding possible uses to be made to Coventry City Council. Tel: 02476 831 109 Email: [email protected] There is lapsed planning consent for the demolition of this part of the building plus the adjacent residential property for the construction of 13 flats (App No: FUL/2012/1775), granted on 12/12/2012. NOTE The existing Tyre Business (Cheapest Tyres) located to the rear is not affected and not included in this sale. NOTE The neighbouring residential investment property is also being offered as a separate Lot in the September Auction. TENURE Freehold with vacant possession
PLAN (For identification purposes only and does not form part of the contract}
BUSINESS RATES For enquiries on business rates visit www.voa.gov.uk. PHOTOS (A selection of photos can be found on our web site www.loveitts.co.uk)
Viewings are available by appointment with Loveitts, please call 024 7652 7789
LEGAL INFORMATION
*GUIDE PRICE & RESERVE PRICE
If you wish to view the legal information relating to this property please do not hesitate to contact Loveitts Auction Department or visit our web site www.loveitts.co.uk and register for ‘Auction Passport’ by following the instructions after clicking on the ‘LEGAL DOCUMENTS’ button on the right hand side. The legal information is also available via a HARD COPY which is stored in our office at Coventry and available to view within the office.
Guide Price ranges are provided as an indication of the sellers minimum expectations. They are not necessarily figures that the property will sell for and may change at any time prior to the auction. Each property will be subject to a Reserve Price which is the figure below which the auctioneer cannot sell the property at auction. The Reserve Price will be no higher than the upper end of the Guide Price range.
IMPORTANT NOTICE FOR POTENTIAL PURCHASERS TO COMPLY WITH ANTI MONEY LAUNDERING REGULATIONS, LOVEITTS MUST VERIFY THE IDENTITY OF ALL PURCHASERS. THEREFORE, IF YOU INTEND ON BIDDING PLEASE BRING WITH YOU:
PHOTOGRAPHIC PROOF OF IDENTITY 1. Current signed passport or 2. Current full UK Driving Licence
PLUS PROOF OF ADDRESS 1. Recent utility bill (issued in the last 3 months) or 2. Bank or Building Society statement DEPOSIT PAYMENTS CAN BE MADE BY EITHER: • Personal cheque • Bankers Draft or Building Society cheque • Debit card ONLY SHOULD YOUR BID BE SUCCESSFUL YOU WILL NEED TO PAY 10% DEPOSIT PLUS THE BUYERS PREMIUM.
BUYER’S PREMIUM (To be paid along with the 10% deposit) Guide Price up to £20,000 - Buyers Premium £450 (inc VAT) Guide Price £20,001 to £250,000 - Buyers Premium £600 (inc VAT) Guide Price £250,001 - Buyers Premium £840 (inc VAT)
Important Notice to Bidders 1. The attention of prospective purchasers is drawn to the general and special conditions of sale which are available for inspection at the office of the Vendors Solicitors and at the office of the Auctioneers, plus any addendums that are issued prior to or on the night of the auction. 2. Prospective purchasers shall be deemed to have inspected the relevant property. The vendor’s solicitors will provide a contract pack including the usual necessary searches and enquiries with all relevant authorities and other bodies. This is available for inspection at the Auctioneers office, during normal business hours. It is advisable to arrange for a survey of the property prior to the Auction. 3. As soon as the Auctioneers gavel falls on a bid, the successful bidder is under a binding contract to purchase the relevant property. The purchaser is immediately at risk in relation to the property and should therefore have confirmed bank or building society finance arranged (if required) and will also be deemed to have made prior arrangements for any insurance cover that is required. Completion will occur 28 days after exchange, unless otherwise specified. 4. On a property being knocked down, the successful bidder must immediately present to the Auctioneers Clerk his name and address and if appropriate, the name and address of the person or company on whose behalf he has been bidding, also the 2 forms of identification requested concerning the Money Laundering Act 2007 - this information is detailed separately. 5. The successful bidder must sign and exchange contracts with the Vendors Solicitors prior to leaving the room and at the same time pay to the Solicitor a deposit of 10% of the purchase price plus the Buyer’s Premium. In default of any of the above, the Auctioneer shall be entitled as Agent for the Vendors, to treat the failure or default as repudiation and rescind the contract. Thereafter the Auctioneer shall be entitled to re-submit the property for sale and if a successful bidder does not pay a deposit and/or complete the memorandum the Vendor reserves the right to claim any loss he suffers as a result. 6. The Vendor has a right to sell before Auction or withdraw the Lot and neither the Auctioneer nor the Vendor is responsible for any abortive costs, loss or damages incurred by a prospective purchaser in these circumstances. Information as to prior sale or the withdrawal of a Lot can be obtained from the Auctioneers at any time prior to the Auction but vaild only at the time of enquiry. 7. Prospective purchasers are strongly advised to check any sales particulars as to measurements, areas and all other matters to which the properties are expressed to be subject to and have the benefit of. In respect of any contents,fixtures and fittings, expressed to be included within the sale an inspection of the property must be made, and the Legal Information provided by the vendors solicitors must be inspected. All measurements and areas referred to in this catalogue are approximate only. 8. All location plans published in the particulars of sale are to enable prospective purchasers to locate the property only. The plans are photographically reproduced and therefore not to scale and are not intended to depict the interest to be sold but are for identification purposes only. The boundary lines and numbers on the photographs are again only to enable prospective purchasers to locate the property and are not intended to depict the interest to be sold. Purchasers are advised to view the special conditions in respect of the precise interest to be conveyed. 9. Any guide prices or any estimates or values mentioned in negotiations or discussions with the Auctioneers or any of their representatives cannot be relied upon by a prospective purchaser as representing professional valuations for any purpose in accordance with the requirements on guidance notes of relevant professional bodies or other authorities. In all respects prospective purchasers are deemed to have relied upon their own knowledge or the advice of their own professional or other advisors. 10. Guide Price ranges are provided as an indication of the sellers minimum expectations. They are not necessarily figures that the property will sell for and may change at any time prior to the auction. Each property will be subject to a Reserve Price which is the figure below which the auctioneer cannot sell the property below, at auction. The reserve price will be no higher than the upper end of the Guide Price range. 11. Bids may be refused at the Auctioneer’s discretion. The Auctioneers reserve the right to bid on behalf of the Vendor up to the reserve. 12. Inspection of investment properties is courtesy of the tenant. Inspection of properties with vacant possession only by arrangement with the Auctioneers. Interested parties should ring the office to discuss viewing arrangements or book keys before making their journey. 13. Properties sold at auction are not normally cleared of furniture and effects on completion. 14. Property Insurance: Please refer to contract information for confirmation as to the responsibility of insurance of the property in between exchange and completion.
For further guidance to Buying at Auction please visit our website: loveitts.co.uk.
Loveitts, 29 Warwick Row, Coventry, CV1 1DY
Tel: 024 7652 7789 E: [email protected] www.loveitts.co.uk
