Mixed Use Investment
Situated in the heart of Wednesbury town centre this end of terrace, this mixed use investment provides an annual income of £8,240. Split into two units Ground Floor commercial and First Floor residential, the property comprises the following
Tenure
Freehold
Ground Floor
Ground Floor Retail Unit let on a new 3 year lease from September 2020 at a rent of £350 pcm, it is noted that the current tenant has been in occupancy for the previous 3 years. Retail Area 3.43m 7.6m with Storage area beyond and access to W.C and small Kitchen. A door leads to the rear.
First Floor
Self Contained Flat accessed via walkway from Riddings Lane, let an Assured Shorthold tenancy at £340.00 pcm, comprises Hallway, Kitchern 3.7m x 1.86m, Lounge 3.46m x 3.4m Staircase to second floor providing Landing with access to Bedroom 3.47m x 3m, Bathroom with white suite comprising panelled Bath, wash hand basin and W.C.
Outside
Gated access to rear courtyard from Riddings Lane.
Buyers Premium
A Buyers Premium of £600 ( £500 plus vat) will be charged in addition to our Administration Fee
Viewing
Limited viewing by appointment with the Auctioneers on 0121 289 3838
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Local Authority
Sandwell Metropolitan Borough Council
Solicitors
Mr Jeremy Lawrence, Pearman Smith, 35 Lichfield Street, Walsall, WS1 1TJ, Tel: 01922 624164
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Administration Charge - £1200 inc VAT payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.