West House, Lombard Street West, West Bromwich, West Midlands B70 8EG
VACANT OFFICE BLOCK WITH PLANNING GRANTED FOR DEVELOPMENT
This property currently comprises of a 1950s detached office building planned over ground to fourth floor level with undercroft parking. This site has been granted planning permission under reference DC/13/56516 for a mixed use scheme comprising a ground floor commercial unit, undercroft car parking for 22 spaces and 6 floors of residential accommodation above allowing for a total of 60 apartments. The property is therefore being sold with the full benefit of this planning consent and will be of interest to developers. The site is located on the South Side of Lombard Street West between High Street and Edward Street, approximately 50 metres north of Edward Street Hospital. High Street connects to the A41 Expressway which in turn connects to junction 1 of the M5 motorway. The town centre has undergone recent redevelopment including the New Square Retail Park that is also close at hand. Good transport facilities exist in the locality between close to West Bromwich Central Bus Station and Metro station. We understand that VAT is not applicable to this Lot.
Current building: Ground floor: rooms 1&2: 46.50m2 RV £4,200, rooms 3-6: 73.70m2 RV £6,200, rooms 7-11: 80.30m2 RV £6,800 First Floor: rooms 101-103: 67.40m2 RV £5,729, rooms 104-106: 53.60m2 RV £4,547, rooms 107-118 206.90m2 RV £17,590 Second Floor: rooms 201-204: 85.80m2 RV £7,200, rooms 205-209: 88.70m2 RV £7,500, rooms 210-216: 126m2 RV £10,250, rooms 217-218: 29.80m2 RV £3,050 Third Floor: rooms 301-207: 110.60m2 RV £9,400, rooms 308-318: 203m2 + 5 parking spaces RV £18,750 Fourth Floor: 388.40m2 RV £33,000 Car Park: 34m2 RV £6,800
The planning granted allows for the following: Ground Floor: retail unit approx 1765 sq ft First and Second Floors: 5 x studio apartments approx 450 sq ft each, 2 x one bedroom apartments approx 577 sq ft each, 13 x 2 bedroom duplex apartment approx 828 sq ft Third and Fourth Floors: 4 x studio apartments approx 450 sq ft each, 2 x one bedroom apartments approx 577 sq ft each, 14 x 2 bedroom duplex apartments approx 828 sq ft each Fifth and Sixth Floors: 4 x studio apartments approx 450 sq ft each, 2 x one bedroom apartments approx 577 sq ft each, 14 x 2 bedroom duplex apartments approx 828 sq ft each Therefore in total the planning comprises 1 commercial unit, 13 x studio apartments, 6 x one bedroom apartments and 41 x 2 bedroom duplex apartments
LOCAL AUTHORITY & TAX RATING
Sandwell Metropolitan Borough Counil 0845 358 2200
By appointment through the Auctioneers
*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Please note that the following additional fees will apply to the purchase of your property:
1. Buyers Premium of £600 inclusive of VAT
2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to you prior to auction. You will be expected to sign this document as well as the Sales Memorandum at the time of purchase.
3. Stamp Duty - rates easily available on-line
4. Your solicitor fees and any survey fees
5. Insurance - it is your responsibility from the date of exchange to insure the property purchased.