£250,000

Property for sale

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Auction
Freehold

Guide price

£250,000

Property for sale

Albert House, Wednesbury, West Midlands WS10

1 bath

Local area information

Property location

Nearby amenities

  • St Joseph's Catholic Primary School, Darlaston 0.3 miles
  • Woods Bank Academy 0.4 miles
  • Bescot Stadium 2 miles
  • Walsall 2.2 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

  • Freehold
  • Freehold
For Sale by Under the hammer online auction 19th - 21st December 2023. Guide Price £250,000. A mixed-use investment consisting of two commercial units and two additional flats. Viewings via agent.

A Freehold Mixed use investment property with potential of £28,020 per annum consisting of (Two Commercial Retail Units) and (Two Flats with separate access) the property is completely occupied and the breakdown is as followed.

Shop A - vacant - Commercial - (for lease details please see legal pack)

Barber Shop (Shop B) - £600pcm - Commercial - (for lease details please see legal pack)

Studio Flat (ground floor) - £390.00pcm - Rolling AST - potential rent increase available.

One Bedroom Flat - £520.00pcm - Rolling AST - potential rent increase available.

To the rear of the building there is also a converted shipping container, this was previously rented at £325pcm.

Current Income Per Annum: £18,1200PA (with scope to increase the rent to the market value of £28,020PA)

The property is located in a prime position of Wednesbury, having parking available at the front with thriving businesss close by, the property further benefits from a large rear garden which could potentially be suitable for further out buildings or further development opportunities. (subject to planning).

Please be aware that all the residential properties are subject to rent increases as the flats are all on Rolling AST agreements. All residential properties have separate access leading into each apartment via the rear of the building.

The property has potential for a development to the rear as this is now a new build housing estate (subject to planning).

Please note that the completion date for this property will not be effected by the Christmas period.
Bidding


For bidding please visit: Underthehammer. Com

*start prices & reserve prices

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Start Price. The Start Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest.
EPC


EPCs can be viewed in full on our website underthehammer. Com on the sales details page or in the legal pack.
Unconditional auction details


Contracts are exchanged immediate at the end of the auction and a 5% deposit will be taken from the highest bidder. This deposit will contribute towards the purchase price.

Completion will be 8 weeks. (56 days)

Every buyer must first create an account at underthehammer. Com Remote bidding facilities are also available, contact the auction office for further details.

Full terms & legal documentation

Available at underthehammer. Com

More information

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  1. Zoopla
  2. Commercial for sale
  3. West Midlands
  4. Wednesbury
  5. Darlaston
  6. The Green

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