Flat 1-11 Kingston House, Moor Street, Brierley Hill, DY5 3EA, & 91-95 High Street, Brierley Hill, DY5 3AU
Freehold mixed use town centre property in Brierley Hill
Guide price*
£690,000+
Plus fees
Withdrawn
Lot information
Commercial Investment
Residential Investment
Auction details:
Wednesday 21st July 2021 @ 08:30AM
A Prominent Freehold Mixed Town Centre Commercial and Residential Investment Opportunity comprising eleven recently converted one and two bedroom apartments and three retail units Potential Full Rental Income: £78,738 pa
Property Description
The property comprises a prominent part three storey corner building, providing three retail units and eleven recently converted well presented self-contained apartments, with 3 x two bedrooms and 8 x 1 bedroom. The apartments benefit from UPVC double glazing, wall mounted electric heaters, modern kitchen and bathroom facilities, telephone entry system, carpeting and floor coverings. On the gable wall there is an advertising hording.Location
The property occupies a corner position in the heart of Brierley Hill town centre with a frontage to High Street providing access to the three retail units and a return frontage to Moor Street giving access to Kingston House comprising the eleven apartments.The property is conveniently located for local shopping and other amenities including the neighbouring Moor Centre which includes Poundland, Iceland, Superdrug and Card Factory, whilst the Merryhill Shopping Centre and Waterfront Developments are within close proximity.
Brierley Hill will benefit from the expanding Metro System with current proposals indicating enhancement of the High Street and the immediate vicinity.
Brierley Hill is situated approximately 2.5 miles south of central Dudley and 2 miles north of Stourbridge.
Energy Performance Rating
See legal pack.Tenure
Freehold – subject to the schedule below. It should be noted that 95 High Street and Flats 9 & 10 Kingston House have been sold subject to Leases for 125 years, expiring in 2146 and 2144 respectively, with the ground rent payable to the Freeholder.All other flats are available with vacant possession upon completion. Full details relating to tenure will be available within the legal pack.
Value Added Tax
We understand that VAT will not be chargeable on this transaction.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.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.Accommodation
| Address | Accommodation | Tenant/Lease Details | Rent/ERV |
|---|---|---|---|
| High Street | |||
| 91 High Street | 829 sq.ft. | Let by way of a lease for 3 years with effect from 31st May 2021. | £10,000 pa |
| 93 High Street | 527 sq.ft. | Let by way of a 6 year lease with effect from 1st November 2018. A rent review is due on the 31st October 2021. | £7,000 pa |
| 95 High Street | 700 sq.ft. | The property has been sold leasehold subject to a lease for 125 years with effect from 16th April 2021. | Ground Rent of £65 pa |
| Advertising Hoarding | - | Let for a term of 1 year from 29th July 2009 (currently holding over). | £975 pa |
| Kingston House | |||
| Flat 1 | 2 bedrooms | Vacant | £7,800 pa (£650 pcm) |
| Flat 2 | 1 bedroom | Vacant | £6,300 pa (£525 pcm) |
| Flat 3 | 1 bedroom | Vacant | £6,000 pa (£500 pcm) |
| Flat 4 | 1 bedroom | Vacant | £6,300 pa (£525 pcm) |
| Flat 5 | 2 bedrooms | Vacant | £7,800 pa (£650 pcm) |
| Flat 6 | 1 bedroom | Vacant | £6,000 pa (£500 pcm) |
| Flat 7 | 2 bedrooms | Vacant | £7,800 pa (£650 pcm) |
| Flat 8 | 1 bedroom | Vacant | £6,000 pa (£500 pcm) |
| Flat 9 | 1 bedroom | The property has been sold leasehold subject to a lease for 125 years, expiring on 31st December 2144. | Ground Rent of £81.50 |
| Flat 10 | 1 bedroom | The property has been sold leasehold subject to a lease for 125 years, expiring on 31st December 2144. | Ground Rent of £81.50 |
| Flat 11 | 1 bedroom | Vacant | £6,600 pa (£550 pcm) |
| Total Estimated Rental Value: | £78,738 pa | ||
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 £1,920 inc VAT (£1,600.00 + 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.
