113 Halesowen Road, Netherton, Dudley, DY2 9PS
A Freehold Mixed Use Investment Property in Dudley
Guide price*
£300,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Mixed Use
Residential Investment
Auction details:
Thursday 9th September 2021 @ 09:00AM
A Freehold Mixed Use Investment Property Current Gross Income: £22,104 pa.
Property Description
The property comprises a three storey mid terrace of brick construction, surmounted by a pitched roof. The property is configured to provide a recently refurbished retail unit on the ground floor used as a barbers, with ancillary kitchen and WC facilities. To the side of the property there is a separate entrance for the residential accommodation, comprising Flat A - a duplex apartment accessed via an external stairway at the rear, the flat is split over the second and third floor and offers a kitchen, bathroom, living room and bedroom. Flat B - a ground floor one bedroom apartment. Flat C - a first floor studio apartment with separate kitchen and shower room. We have not inspected the living accommodation, as such the accommodation should not be relied upon.Location
The property occupies a prominent frontage to the northern side of the A459 Halesowen Road near to its junction with Crossley Street and Northfield Road. The property lies within a busy local parade with a good mix of retail uses within a largely well established residential neighbourhood.Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancies.Tenancy Details
The retail unit is let by way of a lease expiring on 1/12/2024 at a current rent of £7,200 per annum.Flat A let by way of an Assured Shorthold Tenancy, at a rental of £411 per calendar month - £4,932 per annum. Flat B let by way of an Assured Shorthold Tenancy, at a rental of £420 per calendar month - £5,040 per annum. Flat C let by way of an Assured Shorthold Tenancy, at a rental of £411 per calendar month - £4,932 per annum. Copies of the Lease and Tenancy Agreements will be available for inspection upon request.
The total combined income is £22,104 per annum.
Value Added Tax
VAT is not applicable on this transaction.Remote Bidding Auction
This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.Viewings
Strictly by appointment with the Auctioneers.DISCLAIMER
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
LIVE-STREAMED AUCTION
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £2,340 inc VAT (£1,950.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
