Acorn House, 108 Brettell Lane, Amblecote, Stourbridge, DY8 4BS

Freehold mixed use investment property in Stourbridge

Guide price*

£300,000+

Plus fees

Sold for £325,000

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Lot 115 Commercial Investment Residential Investment
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Auction details:

Thursday 14th September 2023 @ 09:00AM

Live-streamed Auction

A FREEHOLD WELL PRESENTED MIXED USE INVESTMENT PROPERTY, COMPRISING TWO RETAIL UNITS AND THREE SELF CONTAINED FLATS WITH A REAR CAR PARK Current Rental Income: £34,540 pa.

Property Description

The property comprises a spacious mid terraced building, configured to provide two retail units and three self contained flats with a surfaced car park to the rear. 108 Brettell Lane is a children's hair salon, trading as 'Its not Just a Hair Cut', having open plan retail area, kitchen and WC. 108a is a beauty salon trading as 'Hidden Beauty' having on the ground floor a waiting area, two treatment rooms, kitchen and WC. There are further treatment rooms on the lower ground and first floors. Flat 1 located on the first floor comprises two bedrooms, lounge, kitchen and bathroom. Flat 2 located and on the first and second floors comprises lounge, kitchen, bedroom and bathroom. Flat 3 located on the ground floor with access from the car park comprises lounge and kitchen area, bathroom and a mezzanine bedroom. The retail units and living accommodation are well presented throughout with modern fittings and decor.

Location

The premises occupy a prominent position fronting the A461 Brettell Lane and forms part of a busy local shopping area diagonally opposite a Lidl Food Store.
Brettell Lane runs directly off the A491 a busy local route linking Stourbridge with Wolverhampton and serving the neighbouring suburbs of Kingswinford and Wordsley.

Energy Performance Rating

108 - C, 108a - B, Flat 1 - E, Flat 2 - E & Flat 3 - D.

Council Tax Band

A.

Tenure

Freehold – Subject to the existing tenancies.

Value Added Tax

We understand VAT is not applicable 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.

Tenancy

Term Rental
UNIT TERM RENT
108 Let for a term of 5 years with effect from 23rd January 2023. £8,500 pa.
108a Let for a term of 3 years with effect from 1st April 2023 £6,720 pa.
Flat 1: Let by way of an Assured Shorthold Tenancy. £7,020 pa.
Flat 2: Let by way of an Assured Shorthold Tenancy. £6,900 pa.
Flat 3: Let by way of an Assured Shorthold Tenancy. £5,400 pa.
Total £34,540 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.

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