2, 2a & 2b Halesowen Road, Halesowen, Dudley, B62 9AA

Mixed use investment property in Halesowen

Guide price*

£250,000+

Plus fees

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Lot 161 Commercial Investment Mixed Use
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Auction details:

Thursday 16th May 2024 @ 08:30AM

A Freehold Mixed Use Investment Property Comprising Retail Unit, Three Bedroom Flat And Rear Modern Single Storey Unit Current Rental Income £24,600 PA

Property Description

The property comprises a two storey former post office which provides on the ground floor a self contained retail unit fitted out as a modern gents barbers with ancillary office/store, kitchen, staff area and WC. 2a comprises spacious living accommodation with a front entrance from the pavement and having a hallway, kitchen and dining area on the ground floor, and on the first floor lounge, shower room, bathroom and three bedrooms. There is an enclosed rear garden. To the rear of the main building is 2b, a modern single storey built unit accessed off Long Lane comprising of two rooms, with a bathroom and kitchen and is currently occupied by a charity.

Location

The property occupies a prominent position fronting the northern side of the main A458 Halesowen Road near it's junction with the A4034 Long Lane, on the borders of Halesowen, Quinton and Blackheath.
The property stands within a well established local retail parade opposite the Stag and Three Horseshoes Public House.
The A458 is a main arterial route and is busy throughout the day, as such the property is considered to occupy a good trading position with an excellent immediate catchment area for trade together with a high level of potential passing trade.

Energy Performance Rating

See legal pack.

Council Tax Band

Flat- A

Tenure

Freehold – Subject to the existing tenancies.
2- Retail Unit: Let by way of a 5 year lease with effect from 21/10/2022 at a rental of £850pcm (£10,200 per annum)
2a- Flat: Let by way of an assured shorthold tenancy at a rental of £600pcm (£7,200 per annum).
2b- Commercial Unit: Let by way of a rolling 12 month licence with effect from 01/01/2024 to the charity Feed The Nation at a rental of £600pcm (£7,200 per annum).

Value Added Tax

See legal pack.

Auctioneer's Note

We have not had sight of any lease/tenancy documentation, copies will be available within the legal pack and all interested parties must seek their own verification by reference to this.
We are further advised the residential tenant will be vacating shortly. We feel this presents an ideal time to undertake some redecoration and the opportunity for a rental uplift.
Please note offers may be considered prior to the Auction Sale.

Viewings

Strictly by appointment with the Auctioneers.
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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