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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.
Long Leasehold. The property is held on a 999 year lease from 29th September 2014 (thus approximately 994 years unexpired).
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.
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.
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Administration Charge - Purchasers will be required to pay an administration fee of £900 inc VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.