113 Halesowen Road, Netherton, Dudley, DY2 9PY

Freehold Investment Opportunity For Sale

Property details

Type
Tenure Freehold – Subject to the existing tenancies.
Price Offers Invited £300,000
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Features
  • A Freehold Mixed Use Investment
  • Refurbished retail unit and 3 self-contained flats Current Gross Income: £22,104 pa.
  • Freehold – offers over £300,000
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.
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.

Price
Offers overs £300,000.
Tenancy
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 p.a .
VAT
VAT is not applicable on this transaction.
EPC
Available upon request.
Legal Costs
Each party are to be responsible for their own legal costs incurred in this transaction.
Anti Money Laundering
In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.