19-21 Mill Street, Brierley Hill, DY5 2RG

Commercial investment & residential HMO in Brierley Hill

Guide price*

£225,000+

Plus fees

Withdrawn

Lot 109 Mixed Use
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Auction details:

Thursday 9th May 2019 @ 10:30AM

A Freehold Commercial & Residential HMO Investment Current Gross Income: £31,160pa.

Property Description

A double investment property on a main thoroughfare of Brierley Hill comprising two shop premises, seven HMO letting rooms with shared facilities and one bedroomed cottage. Brierley Hill is close to the Merry Hill Shopping Centre and will benefit in the future from an extension of the Metro system.

Accommodation

No. 19
Ground Floor: TShirt Shop, Lobby, Kitchen and Store Room.
First Floor: - Landing, Shower Room and WC, Cleaner's Cupboard, Rooms 1 and 2.
Second Floor: - Room 3.
No. 21
Ground Floor: Entrance Hall to Antiques Shop, Stairs to letting rooms and rear access. Shared Shower Room, WC and Kitchen.
First Floor: Landing, Rooms 1 and 2.
Second Floor: Landing, Rooms 3 and 4.
Cottage:
Ground Floor: Lounge, Kitchen, Shower Room and WC.
First Floor: Bedroom.
Outside: Rear Yard, Brick Build Store.
The property has electric heating and the majority of the windows are UPVC double glazed units.

Energy Performance Rating

See legal pack.

Tenure

Freehold – Subject to the existing tenancies.

Tenancy Details

No. 19: Shop let at £4,160 per annum.
No. 21: Shop let at £3,120 per annum.
Letting Rooms
No. 19

Room 1 - Let on an Assured Shorthold Tenancy at a rental of £2,600 per annum.
Room 2 - Let on an Assured Shorthold Tenancy at a rental of £2,600 per annum.
Room 3 - Let on an Assured Shorthold Tenancy at a rental of £3,120 per annum.
No. 21
Room 1 - Let on an Assured Shorthold Tenancy at a rental of £3,120 per annum.
Room 2 - Let on an Assured Shorthold Tenancy at a rental of £3,120 per annum.
Room 3 - Let on an Assured Shorthold Tenancy at a rental of £2,600 per annum.
Room 4 - Let on an Assured Shorthold Tenancy at a rental of £3,120per annum.
Cottage: Let on an Assured Shorthold Tenancy at a rental of £3,600 per annum.
Total Gross Income: £31,160 per annum
Full Lease details will be available within the legal pack.

Auctioneers Note

We are informed that the property has a current HMO Licence, a copy of which will be available within the legal pack.

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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