New Talbot Place, Black Lake, West Bromwich, Sandwell, B70 0PL
A Fully-Let New Build Residential Investment Opportunity
Features
- Brand new recently completed residential development
- Freehold block of 9 self contained apartments with car parking & gymnasium
- Prominent location close to local amenities & public transport
- Fully let on AST’s producing £114,600 per annum
- Total gross internal area – 6,511 sq ft (604.60 sq m)
- Comprising 8 x 2 bed, and 1 x 1 bed apartments
- Freehold
- Guide Price: £1,600,000
Description
The property comprises a new development of 9 self-contained apartments finished to a high standard with an onsite gymnasium. In total the apartments extend to 6,511 sq ft (604.60 sq m) over ground, first and second floors. The property is fully let on individual assured shorthold tenancies and residents have the benefit of car parking, cycle store & use of the on site gymnasium (once completed). The apartments range from 551 sq. ft. to 830 sq. ft.
Location
The property is situated at the junction of Hill Top/Blake Lake and Brecknock Road. Hill Top is a main route between Wednesbury to the north and West Bromwich to the south. The development site is located approximately 1.2 miles to the northwest of West Bromwich town centre on Black Lake Road, which connects West Bromwich and Wednesbury to the north. To the south, Black Lake joins the A41 dual carriageway with links to the M5 motorway to the east and Wolverhampton to the northwest. West Bromwich is within the jurisdiction of Sandwell, approximately 5.8 miles to the north-west of Birmingham, 6.2 miles to the south-east of Wolverhampton and 12.9 miles to the south-west of Lichfield. The area has good road communications, with the subject property being located approximately 2.0 miles to the north-west of J1 of the M5. The property is approximately 1.7 miles north of Sandwell and Dudley railway station. Sandwell and Dudley railway station connects to Birmingham with a travel time of approximately 16 mins, Wolverhampton with a travel time of approximately 22 mins and Lichfield with a travel time of approximately 55 mins. The surrounding area is predominantly residential. There are a number of schools within close proximity including Hateley Heath Primary, Harvills Hawthorn Primary and St John Bosco RC primary Schools.Accommodation
Please see breakdown within the detailed brochure.Tenure
Freehold, subject to the existing tenancy.Tenancy
Please see breakdown within the detailed brochure.Price
Offers based on £1,600,000 are invited for the Freehold interest. A purchase at this level reflects a gross yield of 7.1% and a capital value of £246 psf.Planning
TOWN & COUNTRY PLANNING -The current use of the property falls under Class C3 (Residential) of the Town and Country Planning (Use Classes) (Amendment) Regulation 2020.
Services
We understand that the premises have the benefit of mains water, electricity, drainage and gas. However, no tests or checks have been carried out with regard to these services.Additional Information
COUNCIL TAX -All apartments fall within council tax band A ( Sandwell MBC).
