Commercial Development in CV6
Engleton Road, Coventry, West Midlands, CV6 1JF
Online auction
- IDEAL DEVELOPMENT OPPORTUNITY
- Vacant Possession
- THREE RESEDENTIAL UNITS PROPOSED
- PRIME LOCATION
- EXCELLENT POTENTIAL
- APPROX 2900 SQFT
- COMMERCIAL UNIT
- PLANNING PERMISSION IN PLACE
- FRONT AND REAR SPACE
- SUBSTANTIAL DETACHED PROPERTY
Commercial Development in CV6
For sale via secure sale online bidding - terms and conditions apply.
**AN EXCEPTIONAL FREEHOLD DEVELOPMENT OPPORTUNITY ** Potential rental income of £50,280pa which equates to a 9.14% yield. A substantial and versatile detached property set on a large plot in a prime location which offers a multitude of uses and is currently set up as a mixed use of commercial and residential units with planning permission in place to convert the existing space into an additional three modern apartments, whilst retaining the commercial section. At present the ground floor comprises of a commercial unit with several storage rooms to the rear and side, the further two floors are residential at present with the second floor being a three bedroom flat with kitchen, lounge & shower room whilst the third floor is studio style flat – both are in need of refurbishment. Externally there is off road parking for several vehicles. Being situated close to the junction of Radford Road & Beake Avenue there is easy access to the city centre, the A444 & motorway network beyond. This interesting building is suitable for a variety of uses or redevelopment and offering great potential it is well worth a viewing.
Ground Floor - The ground floor is being operated as a commercial unit which is benefitting from a private entry, large customer waiting room and shop floor. There are 4 large rooms which are set up as a Staff Room/Kitchen, Eye Test Room, Chiropody Room and office. A further four Store Rooms, Boiler Room and two separate W/C's. There is planning permissions in place to convert this floor into one commercial unit and two modern flats, a two bed and a one bed, both having their own private entrances and the larger having a garden.
First Floor - At present the first floor has been partially renovated to an exceptionally high standard with newly fitted Howdens kitchen, modern shower room, spacious lounge and three generously sized double bedrooms.
Second Floor - Currently used as a Store Room, there is an excellent size room with kitchenette and feature Apex window with an additional eves storage room across the landing. It would be an ideal studio flat with the proper permissions.
External Spaces - Set on a large plot in a prime location the property benefits from tarmacked frontage and a paved rear area.
Tenure - Freehold - The agent has been informed that the property is offered freehold however any interested party should obtain confirmation of this via their own solicitor or legal representative.
Summary
- Property Type: Commercial Development
- Tenure: Freehold
- Parking: Off Street
Description
A substantial and versatile detached property set on a large plot in a prime location which offers a multitude of uses and is currently set up as a mixed use of commercial and residential units with planning permission in place to convert the existing space into an additional three modern apartments, whilst retaining the commercial section.
Location
Being situated close to the junction of Radford Road & Beake Avenue there is easy access to the city centre, the A444 & motorway network beyond.
EPC
Rating D & C
Tenure
Title number
WK29349 - Freehold
Additional Information
For further information please contact our office directly on 0191 737 1154, or alternatively via email on commercial@pattinson.co.uk. With regards to viewing subject property, this is to be done strictly by appointment.
Floor Plan
This property is being sold subject to unconditional reservation fee auction terms and conditions.
Timescales
Contracts will exchange immediately. There are 28 days in which to complete the purchase.
Legal Pack
A legal pack is available to download. Special conditions may apply.
We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.
Deposit
In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.
The deposit is non-refundable.
Buyer Fees
This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.
A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.
More Information
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
ONLINE AUCTION NOTICE
I hereby acknowledge and confirm the following:
My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.
If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.
Any amount payable at the close of the auction must be paid within 1 hour.
Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.
Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.
Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.
The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.
It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.
The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.
Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid
Please note this bidding process applies specifically to online auctions.
More Information is available:
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
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