Chaddesley House, 196A,B,C & D, Wolverhampton Street, together with, 11A,B,C Parsons Street, Dudley, DY1 1DZ

Freehold Grade II Listed mixed use investment property in Dudley

Guide price*

£480,000+

Plus fees

Sold prior to auction, for an undisclosed amount

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Lot 85 Commercial Investment
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Auction details:

Thursday 19th May 2022 @ 09:00AM

Live-streamed Auction

An Attractive, Prominent Freehold Mixed Use Town Centre Investment With Secure Surfaced Car Parking. Current Rental Income £46,140 PA

Property Description

The property comprises an attractive Grade II listed end of terrace mixed use investment property consisting on the ground floor of offices, retail and living accommodation with further flats over the first and second floors. The property benefits from an attractive decked roof terrace and secure surfaced car parking for approximately 15 cars with automatic metal vehicular gates.

Location

The property is predominantly located fronting the B4176 Wolverhampton Street with a return frontage to the B4177 Parsons Street within the heart of Dudley town centre.
Within the immediate vicinity there is a mix of residential, commercial and professional uses.

Energy Performance Rating

See legal pack.

Council Tax Band

All Flats - A

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
Unit Use Rent Per Annum Tenancy
196 Wolverhampton Street
Unit 196A Commercial/Offices £7,800 per annum Let by way of a five year lease with effect from 5th March 2022
196B Two bedroom flat £6,120 per annum Let by way of an AST
196C Once bedroom flat £5,880 per annum Let by way of an AST
Unit 196D Two bedroom flat £5,940 per annum Let by way of an AST
11 Parson Street
Unit 11A Commercial/Shop £7,200 per annum Let by way of a five year lease with effect from September 2021
Unit 11B Commercial/Offices £6,600 per annum Let by way of a five year lease with effect from 5th March 2022
Unit 11C Two bedroom flat £6,600 per annum Let by way of an AST
Total £46,140 per annum
We have not had sight of any documentation relating to the various tenancies however these will be available within the legal pack. There are approximately 15 parking spaces within the car park which is secure and gated and there is considered to be the opportunity to lease these separately to neighbouring businesses and individuals.
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 all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. 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 £1,680 inc VAT (£1,400.00 + 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 is available to download free of charge under the ‘lot information’.  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.

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