117-119 Northfield Road, Netherton, Dudley, West Midlands, DY2 9JQ

Commercial Investment For Sale

Property details

Type Investment
Price £85,000
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Features
  • Prominent location in popular residential area
  • Freehold mini parade property
  • Investment sale comprising two separate tenancies
  • Fully let producing an annual rent of £7,140 pax
  • Offers based on £85,000, equating to 8.25%
Location
The property is located on the busy Northfield Road in Netherton, Dudley. Nearby there is a good mix of retail uses within a well established residential neighborhood.
Description

The property comprises two separate ground floor retail units with service access to the rear.

Accommodation
117-118: 428 square feet (trading as a barbers)
119: 262 square feet (trading as a sandwich shop)
Price
Offers in the region of £85,000 are sought for the freehold interest. A purchase at this level would equate to a net initial yield of 8.25% (after purchasers costs of 4.89%), based on a passing rent of £7,140 per annum.
Tenancy
117/118: Let to Geraldine's Hair Salon for a term of 5 years from 14/05/22, expiring 17/05/27.

119: Let to Smarty's Sandwiches and Cakes for a term of 2 years from 01/06/22, expiring 03/06/22.
EPC
Available upon request.
Legal Costs
Each party is 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 any funding will be required from the successful purchaser.