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A Recently Developed Spacious Investment Opportunity Comprising the First & Second Floors of a Substantial Corner Building Arranged as 7 Ensuite HMO Rooms on the First Floor and 5 Self Contained Studio Apartments on the Second Floor. Currently Producing a Combined Income of £53,940 Per Annum with Two Units Vacant. Estimated Rental Value when Fully Let is £64,140 Per Annum.
Tenure
Long Leasehold. The property is held on a 999 year lease from 29th September 2014 (thus approximately 994 years unexpired).
Location
The property occupies a prominent corner position in Dudley Town Centre at the junction of Castle Street and New Street. The development is a minute walk from Dudley Central Bus Station. Rail links are provided by Dudley Port and Sandwell and Dudley stations. The open spaces of Coronation Gardens & Dudley Zoological Gardens are within easy reach.
Accommodation
First Floor Seven Ensuite Bedrooms, Communal Reception, Kitchen & Dining Rooms Room 1 Let for £475 pcm Room 2 Let for £400 pcm Room 3 Let for £425 pcm Room 4 Vacant (ERV £400 pcm) Room 5 Let for £470 pcm Room 6 Let for £450 pcm Room 7 Let for £475 pcm Second Floor Five Self Contained Studio Apartments Studio 1 Let for £475 pcm Studio 2 Let for £475 pcm Studio 3 Let for £425 pcm Studio 4 Let for £425 pcm Studio 5 Vacant (ERV £450 pcm)
Current Rent Reserved
Combined Current Rent £4,495 per calendar month with two units currently vacant.
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
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 - Purchasers will be required to pay an administration fee of £1,500 inc VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.