Summary - 11 PENTOS DRIVE BIRMINGHAM B11 3TA
1 bed 1 bath Commercial Property
Low-entry commercial income lot for cash or specialist buyers close to city amenities.
Freehold ground rent interest on two-storey office, warehouse and yard
This lot is a freehold commercial ground rent investment secured on a two-storey office building, warehouse and yard in Sparkhill. The property generates a fixed ground rent of £200 per annum, doubling every 25 years, with the existing business on site unaffected by the sale.
The title is subject to a 99-year lease from 14 April 1987 with approximately 61 years unexpired. That limited unexpired term is a material drawback: many mortgage lenders will refuse to lend against the leasehold interest, so buyers should be prepared to fund purchase from cash or specialist finance. The sale is by public auction with unconditional exchange on the fall of the hammer.
Buyers must allow for additional known purchase costs: the purchaser will pay the Council’s professional fees of £3,000 and an administration fee of £2,340 (inc VAT) on completion; other costs may be detailed in the legal pack. External viewings only; check the legal pack for full lease terms and special conditions before bidding.
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