1 Mill Street, Brierley Hill, DY5 2RG
Former banqueting suite with five flats above in Brierley Hill
Wednesday 11th December 2019 @ 10:30AM
Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE
Please note that Flat 4 is currently let out at £400 pcm - £4,800 pa and Flat 5 is currently vacant - updated 04/12/19 @ 15.18
A Prominent Freehold Investment/Residential Development Opportunity comprising a former banqueting suite with five flats above within a town centre location. Considered suitable for conversion of the existing accommodation or complete demolition and redevelopment subject to the appropriate planning
Property DescriptionA prominent part three storey former public house of brick construction surmounted by a part pitched/part flat roof. The property is currently configured to provide a former banqueting suite on the ground floor with ancillary kitchen/preparation area, gents and ladies WC's. On the first and second floors are five self-contained flats comprising 3 one bedroom and 2 two bedroom. There is also a useful basement and staff car parking to the rear for approximately four cars.
LocationThe property occupies a prominent corner position fronting Mill Street with a return frontage along Cottage Street and opposite the Moor Shopping Centre within the heart of Brierley Hill town centre, with a densely developed immediate catchment area for potential trade.
Brierley Hill lies approximately 3 miles south of Dudley town centre and 2 miles north of Stourbridge. The Merry Hill Shopping Centre and Lye Railway Station are within close proximity.
Energy Performance RatingSee Legal Pack.
TenureFreehold – Vacant possession will be given of the ground floor and flats 2 and 4 upon completion.
The following are currently let by way of Assured Shorthold Tenancies:-
Flat 1: £450 pcm (£5,400 pa.)
Flat 3: £465 pcm £5,580 pa.)
Flat 5: £510 pcm (£6,120 pa.)
We have not had sight of any Lease documentation, copies will be available within the legal pack.
Value Added TaxPlease refer to the Legal Pack.
ViewingsStrictly by appointment with the Auctioneers.
|Ground Floor||253.67 sq.m.||2,731 sq.ft.|
|Kitchen/Prepartion Area||62.24 sq.m.||670 sq.ft.|
|Basement||99.72 sq.m.||1,073 sq.ft.|
|Total (approx.):||315.91 sq.m.||3,804 sq.ft.|
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.
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.